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.
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.
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:
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.
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.
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.
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.
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.
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.
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.
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:
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
You 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.
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