You’ve taken a new job across the country! Congratulations!
To save money on the move, you decide to rent a truck from a well known rental company. As you’re driving through Saratoga Springs, the car in front of you stops suddenly. You rear end it causing considerable damage.
Are you covered?
Moving Truck Rental Insurance
If you initialed and signed yes to the insurance questions on the rental form then you’re covered. That’s because you purchased optional damage waivers and supplemental insurance from the truck rental company.
It’s good to check with your insurance agent, though. Some auto policies do cover a rental truck. And your renters or homeowners will probably cover your belongings while transit.
Again, check with your agent prior to the move to make sure you’re covered especially since you’re driving a vehicle you’re probably unfamiliar with.
No matter what, you’re probably best off buying the rental company’s insurance. It’s inexpensive and you’re definitely covered. You don’t want to add to the stress of moving and starting a new job by worrying about a truck accident.
Contact Fragomeni Insurance & Financial Services for a thorough review of this situation. We will give you peace of mind about your insurance coverage.
Now That You’re Moved In, What About Insurance?
When you move to another state your auto and homeowner’s and insurance will change. Insurance companies apply different rates to different states. Plus state laws may differ.
- Auto Insurance- You can contact your current agent for a referral in your new state or find an agent on your own. But most likely, you’ll need to get another agent (unless your agent is licensed in your new state).
- If you move within your state, report your change of address to your agent. Since where you live impacts the rates, it may make a difference in your insurance costs.
- Homeowners Insurance- If you own a home, you’ll have to keep your insurance in force until the house changes ownership.
For your new home you’ll have to supply proof of insurance prior to purchase. Even if you rent, you may need to provide proof of renters insurance as part of the lease.
You might want to consider getting umbrella insurance as another layer of coverage in the event you’re a victim of our litigious society. The umbrella coverage kicks in after your homeowner insurance policy limit is reached.
If your new home is part of an association, you might want to consider loss assessment coverage. This coverage pays for a loss the association might assess its homeowners for (For example, if the association gets sued and the judgment is greater than the association’s policy limits, they might ask the homeowners to kick in that overage).
Finally, if you store belongings in a commercial storage unit, check your homeowners or renter’s insurance to see if they’re covered. If not, you may have to purchase a storage unit policy.
One Insurance Source
Talk with Fragomeni Insurance & Financial Services if you’re moving to the Saratoga Springs area. We’ll make sure you get the right auto and homeowner’s coverage for your new surroundings. As a leading independent agent, we have many highly rated companies to choose from.
By making sure you receive all of your allowed premium discounts, we’ll obtain best value and coverages for your situation.