{"id":10212,"date":"2024-04-22T19:46:46","date_gmt":"2024-04-22T19:46:46","guid":{"rendered":"https:\/\/www.freeway.com\/knowledge-center\/?p=10212"},"modified":"2024-04-19T19:47:43","modified_gmt":"2024-04-19T19:47:43","slug":"how-moving-affects-your-auto-and-homeowners-insurance-policies","status":"publish","type":"post","link":"https:\/\/www.freeway.com\/knowledge-center\/auto\/how-moving-affects-your-auto-and-homeowners-insurance-policies\/","title":{"rendered":"How Moving Affects Your Auto and Homeowners Insurance Policies"},"content":{"rendered":"\n
Moving is a massive undertaking with tons of moving parts \u2014 you need to pack, switch over your utilities, and get used to your new neighborhood. But what are the impacts of moving on insurance? You probably already know you\u2019ll need a new homeowners insurance<\/a> policy for your new home, but you may be surprised to learn that moving to a new area can impact your auto insurance policy<\/a> as well. <\/p>\n\n\n\n Plus, what happens if your two policies are bundled for extra savings? By exploring the location-based nuances of your plans, you can ensure a smooth move while staying fully covered. <\/p>\n\n\n\n There are several ways insurance is affected by a move, including premium costs and coverage details. Knowing what to do about your coverage before moving is critical for maintaining the right level of coverage at an affordable price once you’re in your new home. <\/p>\n\n\n\n Notifying your insurer of a move and updating your policies is essential for maintaining adequate coverage. Your current auto plan may not apply in your new area, leaving you, in essence, breaking the law by driving without insurance. You won\u2019t be able to make future claims either. <\/p>\n\n\n\n If you own your home, your current policy won’t apply to your new house. Each home has a unique combination of factors that determine its policy rate, so you’ll need a brand-new policy for your new house. If your new home has a higher value than your previous home, your premium cost will reflect that increase. You may also want to expand your plan to cover new risks associated with your area. <\/p>\n\n\n\n Because you will need a new plan for your new home, whether renters insurance<\/a> or homeowners, your bundled policy will no longer exist. If you move to a new state, your current insurer may not even be licensed to operate there, meaning starting anew with a different carrier and brand-new policies. <\/p>\n\n\n\nIntroduction to Relocation Insurance Realities<\/strong> <\/h2>\n\n\n\n
The Importance of Updating Your Insurance Policies When Moving<\/strong> <\/h3>\n\n\n\n
What about Bundled Policies When You Move?<\/strong> <\/h3>\n\n\n\n