Moving house is exciting (we certainly get a kick out of it) - but it can also be stressful and chaotic. There is plenty to consider and organise, and while you’re busy spinning all those plates - it can be easy to overlook or forget about moving insurance.
Arranging insurance cover for your move, be it your home or office, is one of the most sensible and practical arrangements you can make as part of your preparation.
In this article, we share everything and anything you might need to know about removals insurance, who’s responsible for arranging the cover and how much moving insurance costs.
First Things First, What Is Moving Insurance?
Like all kinds of insurance, moving cover will reassure you with peace of mind and financial protection should anything unfortunate happen to your home or your belongings whilst you are relocating.
Broadly speaking, there are two kinds of moving insurance:
- Full Cover – this covers your belongings for all risk of loss or damage while you are moving house.
- Restricted Cover – which only protects your belongings in specific circumstances such as fire or flood, or if the removal truck were involved in an accident.
As with most types of insurance, you can customise your moving policy to reflect your needs, the value of your belongings and any risks associated with your move.
Most providers will allow you to opt for cover of the full replacement cost of your belongings. Otherwise, you can opt to have your belongings insured for their market value, which takes depreciation, age, and condition of your items into account.
Some full cover policies will also offer you temporary accommodation for up to 30 days if your belongings are lost or delayed and you are unable to practically live without them. This is particularly useful if you are moving interstate or overseas.
It’s important to note that not all damage which occurs during moving house will be covered by insurance, which is why it’s best to take all precautions and use a reliable, safe and professional removals team.
Who’s Responsible For Arranging Moving Insurance - Me Or My Removalist Team?
All professional removalist companies should have several different types of insurance, including Public Liability, Carriers Liability and Motor Vehicles Third Party Liability.
And while all good removalists will be insured, sometimes accidents might happen which are not the fault of the moving team.
For example, a friend or family member might accidentally damage your home or property while moving boxes in or out of your house. In which case, your removal team will be unable to provide cover for the damages and you might lose out if you don’t have removals insurance.
Another thing to consider, is if your belongings are particularly expensive or rare, they may fall outside the limit of cover your removalist has.
With this in mind, it's always a good idea to source additional cover of your own to prop up any moving insurance offered by your removalists. There are a few places you can look to do this, but a good place to start is with your existing insurance provider.
At Moveall, we hold Carriers Transit Insurance, $20 Million Public Liability & 3rd Party Property Insurance policies, so you are covered from start to finish when you move with us.
I Already Have Home And Contents Insurance - Do I Need Moving Cover Too?
Quite often people assume their possessions will be covered by their home contents insurance while they're moving, but this isn’t always the case.
Some home and content policies that do cover your belongings while in transit, will usually have conditions attached such as stipulating you use a specific removalist or only moving within certain dates/weather conditions, which isn’t always realistic.
Some insurers might offer removal insurance as a bolt-on to your existing cover and others don’t offer it at all. It’s worth checking your home and contents policy to see exactly what is and isn’t covered before making a decision.
How Much Does Removalist Insurance Cost?
Like all things in life, this will vary depending on a number of factors, including:
- The type and value of your goods (rare, precious, valuable etc.)
- How far you’re moving
- The level of cover you want (full or restrictive)
- Whether or not your belongings will be held in storage, and if so, for how long
It’s best to generate your own quote using the specifications of your belongings and your move with your chosen insurance provider. If you need help finding an insurance provider, marketplaces like Compare The Market can be a great place to get started.
If you’re unsure where to begin, Get In Touch with our team at Moveall for some expert advice and recommendations on how to arrange removal insurance. Our friendly and helpful team are available Monday - Friday, 9am - 5pm (Australian Central Time).