When you’re in the middle of a move, there are a lot of things to remember. It’s easy for important things to slip through the cracks, like contacting your insurance agent. Your insurance coverage needs to be updated when you move, especially your auto insurance.
Notify Your Agent as Soon as Possible
Ideally, as soon as you have a move-in date and new address, you can contact your insurance agent. This allows us to get things ready for you, whether you’ll need a brand new policy or just a simple address change. If you move suddenly, contact us as soon as you can. If your auto insurance lists an incorrect address, and you need to file a claim, it could be denied.
Your Rate May Change
A lot of factors determine your auto insurance rate, including where you live and where your vehicle is parked (on the street, in a driveway, etc.). In some cases, your rate may go down depending on the type of move you’re making. If the move increases your rates dramatically, your insurance agent can work to find you new coverage that fits your budget.
Living and Working in Different States
It’s not unusual for someone to work in the Charlotte area and commute from another location like Rock Hill, South Carolina. If you’re in a situation like this, you might wonder if you need to two policies — one for each state. Not at all. Your policy needs to be written in the state where your car is parked overnight — where you live.
If a new policy needs to be written because of your move, usually due to a move out of state, we’ll need something to verify your new address. We ask for this because the new address for the policy doesn’t match your credit report. This can be a pay stub, your driver’s license, a W2, or a utility bill.
Moving and Life Insurance
Any major life change can impact your life insurance. When you move, you may need to update your policy limit to reflect a bigger house or a larger mortgage payment or the life change that precipitated the move (marriage, divorce, retirement, etc).
Remember, the purpose of life insurance is to help your family financially in the event of your death. If your housing costs have changed dramatically with this move, you want your coverage to allow the mortgage to be paid off or for your family to be able to pay the monthly payment.
When you get ready to move, make sure contacting your insurance agent is on your checklist. The sooner you can share your new address with us, the sooner we can make sure you have the insurance coverage you need. And once it’s done, it’ll be one less thing you have to worry about. Contact Charlotte Insurance today to update your coverage or for a free quote.