We like to save money where we can when moving house because moving can be a costly exercise. Many people don’t take out moving insurance for this reason, but it can end up costing you much more than what you’d save if you don’t have it. Here’s a guide to moving insurance and why you should consider having it the next time you move.
What is moving insurance?
Moving insurance works the same way as travel insurance. You take out travel insurance to cover yourself for any mishaps that occur, such as losing your suitcase. When you move house, you’re also travelling, but with all your belongings. Moving insurance covers you for any mishaps that occur while your belongings are in transit.
Contents insurance vs moving insurance
Many people make the mistake of assuming their contents insurance covers their belongings while they’re in storage or transit. In fact, contents insurance varies from one policy to another. You should always check your policy as many policies don’t cover moving house. Contact your insurer if you’re uncertain and remember to get your home and contents policy transferred to your new home.
What does moving insurance cover?
Moving insurance is designed to cover you for accidental damage or loss of your belongings. There are different policies which range from limited to comprehensive cover. In the event of an accident or loss, you’re compensated with repair costs, or replacement of comparable value if beyond repair, or a payout to the market value of the item.
Moving insurance provides peace of mind
Moving is considered to be one of the most stressful events in life, so why add to your stress levels by paying for repairs or replacing damaged items. Despite the best care taken with handling and transporting your belongings, there is always a risk of accidental damage. Having moving insurance gives you the assurance you’ll be compensated for any damage.
What are the risks of damage?
Many household items are not designed to be moved about. In particular, furniture and appliances must be transported very carefully to avoid damage. If you’re moving between cities or states, your belongings could be in transit for days. If they’re put into storage, there’s also the risk of mould, mildew and pests. There is also moving insurance for electrical and mechanical derangement. This is where an appliance arrives in perfect visible condition, but doesn’t work when turned on.
DIY moves
You’re highly unlikely to get moving insurance if you DIY move. You may only be able to get limited cover if you hire movers, but pack your own boxes. If you want cover from mishaps, hiring professional movers, getting your items professionally packed and backing it up with moving insurance is the best solution.
How much does moving insurance cost?
Quotes are much easier to obtain these days with no need to get a valuation. You can get a quote online through our website, along with more information about the types of cover available.
