I’m moving. Can I transfer my renters insurance to a new address?

You’ve signed a lease for a new apartment. You’ve changed your address, packed the boxes and scheduled the moving truck, but what happens with your renters insurance policy? Can you transfer renters insurance, or will you have to start over and apply for a new policy? Fortunately, the answer is easier than you might think, and it may only require a simple conversation with your insurance agent.

Most homeowners have insurance to protect their property, but if you rent, having renters insurance is a wise decision. Renters insurance helps protect your belongings in the event of theft, fire or a weather emergency. It could also provide you coverage in case someone is accidentally injured in your rented space. In that event, renters insurance might help pay medical expenses and even legal fees if you’re sued.

Once you sign up for renters insurance and pay any initial fees, there’s nothing to do to maintain your policy except to continue paying your premium on time. Renters insurance tends to be one of the most affordable insurance options available, costing under $20 per month in many cases.

But what if you move? Does your renters insurance transfer with you?

The short answer is yes, if you’re moving to another rental. (If you’re buying a home, talk to your agent about canceling your renters insurance and identifying coverage that fits your needs.) Still, there are a few steps to take before you move to ensure there’s not a hiccup in your coverage.

The first step in transferring your renters insurance is to let your insurance agent know you’re moving. Change your renters insurance address and update your contact information so that your policy can remain current and in good standing. Your agent will let you know whether your policy will carry over to your new place.

You can then review the cost. There may be a change in your monthly insurance premium based on where you’re moving. This is also a good time to review your coverage to make sure all of your valuables are accounted for and covered. Have you purchased or received any significant jewelry or art? How about electronics? Let your agent know about any changes since the last time you spoke and make those adjustments to your policy.

What happens if your belongings are damaged during your move?

Renters insurance might cover damage, but it might not. If you have items that are valuable or breakable and want to consider additional coverage, it’s best to talk to your agent. You can also ask your moving company what kind of insurance coverage they carry that would cover damage to your belongings. Rental truck companies may offer coverage options, too. 

Whether you’re moving into a new apartment or you want to explore insurance options for your current rental, TruStage™ offers renters insurance you’ll appreciate.