People move all the time and for all sorts of reasons. In that process, you need to make sure you get services transferred. One of the things you should keep in mind is whether you’re moving within a state or between states. We commonly are asked,
Can I move a renters insurance policy to a new state? I just got transferred for work and they’re helping me find an apartment in the new state, but I’m on my own for insurance.
So, can you move a California renters insurance policy and turn it into a Colorado renters insurance policy? Let’s find out…
Can I Move A Renters Insurance Policy To A New State?
In this ever more mobile society, it’s becoming more common for us to hear questions about moving renters insurance. You can move a renters insurance policy across town, but can you move it to a new state?
Can I Move A Renters Insurance Policy To A New State?
Can I Move A Renters Insurance Policy To A New State
Insurance is regulated at the state level, but policies are written for national use. How are state laws reconciled with a standardized insurance policy designed to be used everywhere? Through something called an HO-300 endorsement, or “special provisions.” Every renters insurance policy issued within a particular state will have the appropriate special provisions endorsement for that state. As an example, here’s some of what the California endorsement does:
- Redefines “spouse” to include registered domestic partner of the named insured.
- Defines the word “wildfire”.
- Clarifies the definition of “actual cash value”.
- Restricts Ordinance/Law coverage from covering ordinances which have changed as a direct result of an earthquake.
- Clarifies the definition of “earth movement,” which is especially important for California policies.
- Carves back coverage for fires, explosions, glass breakage, and theft resulting directly from earthquakes, even if the policy does not have earthquake coverage. Does renters insurance cover earthquakes? Only if the coverage is endorsed on. But if the earthquake causes a fire, coverage for that fire loss is available even if the fire was caused by earth movement.
- Amends cancellation notice provisions
- Provides coverage to government employees and members of the military for government property in their possession and control under the personal property coverage of the policy.
There’s actually quite a bit more to the endorsement, but those are some of the high points. Each state has a similar endorsement making varied changes to that policy. A California renters insurance policy can’t be moved to Colorado because of that, and because the rules for rating variables and prices vary greatly across the country. For instance, California renters insurance doesn’t use insurance scores.
However, what you can do is work with a nationwide renters insurance provider like Effective Coverage. A national provider can rewrite your policy in your new state, transfer funds to the new policy, and answer all your questions about the differences between the policies. Generally the coverage on the new policy mirrors the coverage on the old one, subject to state provisions. To find out more, contact Effective Coverage at (800)892-4308 or click above for a free online renters insurance quote in your state, wherever it may be.