Protecting Your Personal Property When Moving (NAPSA)—Whenyou're about to make that big move—leaving one housefor another—it's wise to minimize the risks you can incur moving your personalproperty. “Having yourlogistics planned —how you're physically going to handle the move—is only part of thebattle,” says Jack Hungelmann, holder of the Chartered Property Casualty Underwriter (CPCU) professional designation and authorof “Insurance for Dummies.” “You also need coverage INSURING for damage to— YOUR SUCCESS or theft of—your belongingsin transit.” If you hire a moving company, its standard contract often limits its liability for damageto your propertyto 50 or 60 cents per pound. So if your new 400-pound, $3,000 piano is dam- aged, recovery might be only $200—amless you upgraded. For an additional cost, you can have coverage shifted from cents per pound to “full value” for individual pieces or for yourentire load. “But there are hazards here, too,” says Hungelmann. “That's because‘full value’ often means current value or depreciated value—which can be less than actual replacementcost. And even obtaining ‘full value’ coverage for breakage might also require that the movers do the packing, whichis a significant additional charge.” So if you're moving from a home that you own, it’s a good When you move, you need cov- erage for damage to—or theft of—your belongings in transit, advises Jack Hungelmann, CPCU, author of “Insurance for Dummies.” idea to keep your homeowners insurancein force until the move is complete. That way, you'll be protected byits personal property “in transit” feature, which is typically included in such policies. Even so, losses for items replaced mightbesettled for their depreciated valueunless you purchased a “full replacement cost” option. Coverage for breakage of nonfragile items might also require inclusion of the optional Special Perils endorsement. Breakage of high-valued fragile items can only be covered by individually scheduling them on your homeownerspolicy. If you're moving from a rented apartment or other dwelling, have a renter’s policy in force to give yourself similar “in transit” protection for your property. Retain your renter’s coverage until the endofyourlease to keep yourliability coverage effective—even if you moveout earlier—incase anyoneis injured at your former residence while it’s vacant. Moving canbe less stressful when you're properly insured for the risks involved. To learn more,contact an agent or broker with the CPCU designation or visit insurancehelp.cpcu society.org and click on “Find An Agent/Broker.”
