If you have already informed the United States Postal Service of an upcoming move, you’ve made the first important step. However, to be safe, there are other parties that should be made aware of the move in order to keep all legally binding contracts and insurance policies up to date.
It is important for you to let your insurance carrier(s) know your address is changing. For example, if you have one or more vehicles your car insurance company might be able to save you money on your car insurance premiums if you relocate somewhere that insurers believe presents a lower risk of likely claims than the area you’re leaving. Sometimes these savings can be substantial.
Alternatively, you might relocate to a place where insurers generally charge more to insure vehicles. For example, most cities charge a higher rate for car insurance than suburban areas. Why is this? Well, in cities cars are more likely to take a beating. Street parking, potholes, and frequent stop-and-go traffic can all put wear and tear on a vehicle. When budgeting for a move, it’s important to keep this added cost in mind. This won’t come as welcome news, for sure. But the importance of notifying your insurer of this COA cannot be overstated. Should you change locations without informing your car insurance company you did so, you may have unknowingly forfeited the insurance protection you thought you had. In the event of damage to your vehicle (or others) which leads to a claim with your insurer, you don’t want to learn they have denied your claim on the grounds that by not informing them of a change of address, you possibly violated the terms of the policy. This could lead to an “uninsured” loss, meaning you are required to remedy any chargeable damages leveled against you out-of-pocket. Your insurance company’s protection is valuable, particularly if they need to legally represent you. Don’t forego this valuable protection because you failed to inform them of your COA. This is very likely far more important than others may realize – until it’s needed. Do not leave yourself unprotected.
Regarding your driver’s license and vehicle registration, contact your state Department of Motor Vehicles to register a change of insurance. This is not only important for you but if you operate a vehicle it’s required by law.
Another seemingly obvious party that would need to be made aware of an upcoming move is a homeowner’s insurance agency. If you are using bank-financed mortgages for your home, you will be required to have homeowner’s insurance (address included!) If you are renting, many landlords now require tenants to produce written documentation of renters’ insurance as a condition of the lease. Regardless of lease requirements, this is always a good idea for renters, too.
Lastly, an important agency to inform is your local voter’s registration office. To vote in your new neighborhood, you’ll need to contact your local borough or municipality for instructions on how to register or submit a change of address.
