If you’re moving into a new home, you should consider renting a moving van and getting the keys to your new dig.
Among the many things to think about when replacing a home is how it affects your home insurance and auto insurance coverage.
How Your Car Insurance Plan Can Be Affected By Moving
Among the factors that insurance companies consider when pricing your car package is where you live. Some cities have more vehicles per head than others. That means a much greater chance of an accident and, consequently, the price of insurance coverage will also increase.
But a new address can also work in your favor if you vacate a large metropolitan center to a smaller sized community or suburban area because the chances of an accident happening are probably much less.
There are various other factors to consider. One of them is the crime rate in your new area. If you have extensive coverage as part of your overall plan, you are covered if your vehicle is tampered with, tampered with, or taken away. The crime rate in the area can result in a higher premium if you move to a place with a high crime rate, especially if vehicles are a regular target.
Also, if you leave the house where you normally park on the street to a house or building where you can park in the garage, you may see a reduced premium because the risk of direct vehicle exposure is much less.
Another potential risk factor is how close you are to the intersection with the number of rush hours, where the chance of an accident may be greater. Keep in mind, however, that each insurance company calculates prices in a different way. The insurance provider that offers the best rates at your old address may not offer the best rates at your new address.
Weather can also be an element. Certain events such as floods or strong winds and tornadoes can damage your vehicle, but they are covered if you have a broad coverage. Therefore, if you move to an area prone to bad weather, you may have to pay more.
How Your Home Insurance Plan Could Be Affected By Moving
Consider your new place. From roof systems to basements to outdoor living areas and garages, many things affect the rate you have to pay to protect your home and belongings, including:
- Area
- Age of your house
- Your distance to ending hydrants and terminals
- Roof system problems
- Plumbing and heating
What about the actual steps? Whether you decide to rent a van and move your own stuff or hire a moving company, are your belongings protected while in the vehicle?
Your home insurance coverage may cover your individual property during relocation, but any loss you incur must be related to the perils listed in your plan for an effective claim to be made if you must. In addition, your home plan may cover your old and new homes for thirty days. However, let your insurance provider know that you are moving – make sure you tell them about 30 to 60 days before the day you plan to move.
Take a few minutes to look through home insurance and auto insurance before you take the plunge and head off to your new dig. By exploring your options, you may find the coverage you need at a lower price than what you currently have. Also, keep in mind that many insurance providers will give you a discount rate on your entire insurance cost if you purchase home and auto insurance from one provider.
