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The Role of Moving Insurance in Safeguarding Relocation

By · February 19, 2024
The Role of Moving Insurance in Safeguarding Relocation

Moving houses comes with a lot of planning, stress, coordination and costs. The last thing you want is to finally get your precious belongings to your new home and find some of them damaged or lost, having to spend even more money to replace them. That’s where moving insurance comes in!

Whether you’re moving homes or relocating your office, getting moving insurance is an essential step in executing a successful relocation, ensuring the protection of your belongings and your peace of mind. Because it’s so important, you want to make sure you do it right, choosing the perfect moving insurance to suit your move and budget.

To help you navigate the complexities of moving insurance, here’s the complete guide to finding the right moving home insurance, including the crucial role it plays in safeguarding your relocation.

What is Moving Insurance?

Moving insurance is a specialised type of insurance coverage designed to protect your belongings during the relocation process. It provides financial protection against potential damage or loss that may occur during transit.

While most reputable moving companies take extensive precautions to ensure the safe transport of your possessions, unexpected problems can still arise. Moving insurance acts as a safety net, offering peace of mind in the face of uncertainties beyond your control.

How Does Moving Home Insurance Work?

Moving insurance typically works in a tiered structure, offering various levels of coverage to suit different needs and budgets. Moving companies and insurance companies will either offer one type of moving insurance or provide you with an option of different types of coverage to choose the best one for you.

This means it’s important to assess all the insurance options available with the moving company or insurance provider you choose to work with to make sure it provides the moving home insurance you require.

The two primary types of moving insurance are:

  1. Goods In Transit Insurance: This is the basic cover option, insuring your goods against fire, collision, overturning, hijacking, damages due to incident and theft by forced entry.

  2. All-Risk Insurance: This provides more comprehensive coverage that includes breakages, damages and loss of goods. While it’s the more expensive option, it’s often the better choice, especially if you have high-value and fragile items.

How Much Does Moving Home Insurance Cost?

The cost of your moving insurance will depend on a few factors:

  • Your type of insurance cover

  • The total value of your goods

  • Distance of relocation

  • Potential risks of the route

Most moving insurance policy rates are determined as a percentage of the total value of your goods, ranging on average from 1.5%-3.5%. Many moving companies include the moving insurance in their moving quote so you don’t have to worry about adding it on afterwards. If you end up having to make a claim, you may also have to pay a claim fee which will depend on your choice of insurer.

With the cost of your moving insurance and your payout in the case of a claim heavily depending on the initial valuation of your goods, it’s vital to ensure that your goods are valued accurately. Otherwise, you may end up paying more than you need to or not receiving the payout you deserve.

Why Do I Need Moving Home Insurance?

With all the major costs of moving home, some may wonder if spending more money on moving insurance is even worth it. So if you are still on the fence, here are some of the main benefits of moving home insurance, proving why it’s so essential.

1. Protecting Your Valuables

Moving home insurance is essential to safeguard your valuables against potential damage or loss during transit. No matter how careful the movers are, accidents can happen, and having insurance in place provides financial protection.

Plus, some things outside both your and the mover’s realm of control, such as flooding from rain, theft, fires, vandalism and rioting. While you can always hope that your belongings have a safe and smooth journey, you also have to prepare for the worst. Moving insurance ensures all your bases are covered.

2. Peace of Mind

The stress of moving is already a significant burden. Knowing that your belongings are covered by insurance can offer peace of mind, allowing you to focus on the other important aspects of your relocation.

3. Reduce Financial Risks

Without moving insurance, you may find yourself facing unexpected expenses to replace or repair damaged items. Moving insurance helps lessen these financial risks, ensuring that you don't bear the full burden of any unforeseen circumstances.

Where to Get Moving Home Insurance?

Where to find moving home insurance

You have quite a few options when looking for the right moving insurance, depending on your specific move and moving budget. Here are the best places to look to find your moving home insurance:

  1. Through the Moving Company: Most reputable moving companies offer insurance options as part of their services. It may even be included in your moving quote. It's crucial to carefully review the coverage offered and consider additional options if needed.

  2. Independent Moving Insurance Companies: For a more customised approach, you can explore independent insurance providers specialising in moving insurance. This allows you to tailor coverage to your specific needs and may offer more flexibility in choosing coverage levels.

  3. Current Household Insurance: If you already have household or home contents insurance on your belongings, then you may be able to extend your cover to protect your belongings while in transit. While some insurers may require an extra charge, others may have it already included in your existing coverage, meaning no extra costs.

Moving Insurance FAQs

We understand that moving insurance brings up quite a few questions. Here are the answers to some of the main FAQs regarding moving home insurance.

Is moving insurance worth it?

Yes, moving insurance is worth it for the peace of mind and financial protection it provides. You often end up saving money in the long run, as moving insurance tends to be a lot cheaper than if you were to replace any of your items that get damaged while in transit.

What does moving home insurance cover?

Your moving insurance coverage will depend on the type of insurance you choose. Goods In Transit insurance covers the basics, such as fire, theft and damages caused by a collision. All-Risk insurance, however, is recommended for those with high-value items, extending your cover to include any damage and loss of items that occurs during the moving process.

How to find international moving insurance?

Usually, the larger moving companies with international relocation options will provide international moving insurance options. While getting moving insurance through your international relocation company is often a lot easier and more trustworthy, you can also opt for a third-party insurance provider. Just make sure to find an insurance provider that is reputable with expertise in global relocations.

Does homeowners insurance cover moving damage?

Homeowners insurance may offer limited coverage for moving-related damages, but it's essential to check out the policy specifics. In many cases, house contents insurance doesn’t provide comprehensive protection for the unique risks associated with relocation, but can provide cheaper or even free extra cover of the basics.

How to check if a moving company is insured?

Always verify a moving company's insurance credentials before hiring them. Request proof of insurance and ensure that it meets your requirements. Reputable moving companies are transparent about their insurance coverage and readily provide the necessary information.

Do I need moving insurance for a self-move?

Yes, even if you're conducting a self-move, investing in moving insurance is advisable. Accidents can happen regardless of who is handling the logistics, and having insurance ensures that your possessions are protected throughout the entire process.

Wise Move: Find the Best Moving Companies with Comprehensive Moving Home Insurance

Find moving company insurance with Wise MoveYou can save yourself a lot of hassle by making the wise move and opting for moving company insurance through your moving company. Instead of spending hours scouring the internet for moving companies that also provide the insurance you require, you can instantly connect with the top local movers that offer the perfect insurance options that suit your move and your budget with Wise Move’s moving company platform.

All you have to do is post your moving request with the details of your move, specifying the type of insurance coverage you would like and all the relevant moving companies will respond. You then have the convenience of comparing reviews and quotes of each moving company to find the perfect one to suit your moving, insurance needs and budget. And all it takes is a few clicks!

Get your moving quote from Wise Move today and find the perfect moving insurance for you to safeguard your relocation.

What do our customers say?

Read reviews of Wise Move to learn stories from our customers.
R 6,000
John Broadwood & Son piano
Kempton Park
Duncan Pl, Greytown
Reviewed 10 hours ago
Very professional, well-priced, efficient and direct. A smooth move on the day agreed upon. Staff were friendly, efficient (2 guys moved a 260kg piano like it was an inflatable piano). Highly recommended!
R 2,840
Cape Town
Cape Town
Reviewed 11 hours ago
Friendly fast and extremely good ill recommend their service to everyone and anyone as our delivery address made this move extremely challenging they arrived with all the correct equipment and got job done so easily
R 1,420
Cape Town
Hout Bay, Cape Town
Reviewed 2 days ago
They were so great! Definitely recommend
R 1,700
Samrand Business Park, Pretoria
Pine Slopes AH, Sandton
Reviewed 2 days ago
Very professional and punctual service. They picked up the desk in time and delivered it quickly and also helped to carry it up the stairs. I am very happy with the service and will do business with them again
R 2,000
2 bedroom flat move
Greenstone Hill, Lethabong
Mondeor, Johannesburg South
Reviewed 2 days ago
I am thrilled to finally recommend Wise Move and their exceptional team! Although it's been several months since my move in October 2023, I couldn't let more time pass without expressing my gratitude for the outstanding job Andrew and his crew did. Despite my delayed review, their dedication, expertise, and friendly demeanor made the entire experience stress-free and seamless. If you're looking for a reliable and top-notch moving service, look no further than Wise Move. I wholeheartedly recommend them and will definitely use their services again in the future. Well done, Andrew and team!
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