How Much Insurance Should You Have for a Move?

What Moving Insurance Does a Removalist Company Offer?

When you book with a professional removalist company, they will provide you with two types of insurance for your belongings:

Basic Liability Insurance Cover

Most professional removal companies offer this minimum amount of basic coverage. It covers your belongings for up to $0.60 per pound (or $1.32 per kg) if lost or damaged during the move. This is the kind of restricted cover you need if you are not moving precious belongings or if your homeowner’s insurance policy covers your belongings while in transit.

When Do You Need to Buy Additional Transit Insurance?

If you’re planning a move, you may wonder if you need additional insurance for your belongings. Your home insurance policy may cover your belongings while in transit, but this coverage has some limitations.

Here’s what you need to know about insuring your belongings during a move:

• Most home insurance policies will provide some coverage for your belongings while in transit, but the coverage is usually limited. For example, your home insurance policy may only cover $500 worth of damage to your belongings during a move.
• If you’re moving a long distance, your home insurance policy may not provide any coverage for your belongings. This is because home insurance policies typically only cover belongings damaged or destroyed by a covered peril, such as fire, wind, or theft. Since most long-distance moves are not caused by a covered peril, your home insurance policy will likely not provide any coverage.
• If you’re moving valuable items, such as antiques or jewellery, you may want to purchase additional insurance to cover these items. Home insurance policies typically limit how much they will pay for certain items, such as jewellery or art.
• If you’re renting a moving truck, many companies offer insurance for the contents of the truck. This insurance usually costs a few hundred dollars and will cover the truck’s contents up to a certain limit.
• Some companies that provide storage services also offer insurance for the contents of your storage unit. This insurance is typically optional, but it can give you peace of mind knowing that your belongings are protected in case of fire, wind, or theft.
• If you’re using a professional moving company, they may offer insurance for your belongings. This insurance is usually optional, but it’s worth considering if you’re moving valuable or fragile items.When deciding whether or not to purchase additional insurance for your move, you’ll need to consider the value of your belongings, the distance of your move, and the type of coverage offered by your home insurance policy. Contact your insurance agent or company if you have any questions about your coverage.

Homeowners or Renters Who Are Moving to a Less Expensive Home or Apartment

Even if you’re moving to a less expensive home or apartment, you may still need to increase your insurance coverage. That’s because your belongings may be worth more than you think, and you may not have enough coverage to replace them if they’re damaged or stolen.

Homeowners Who Are Moving to an Area With a Higher Crime Rate

If you’re moving to an area with a higher crime rate, it’s important to ensure that your insurance coverage will protect your belongings in the event of theft. Otherwise, you could be left responsible for paying for the repairs or replacements out of your pocket.

People Who Are Moving Valuable Items

If you’re moving valuable items, such as antiques or jewellery, you may want to purchase additional insurance to cover these items. This is because home insurance policies typically limit how much they will pay for certain items, such as jewellery or art.

I'm Moving with a Reputable Company. Isn't Their Insurance Enough?

When you move with a professional moving company, you likely feel confident that your belongings are well-protected. And most reputable moving companies do have insurance to cover your belongings in the event of damage or loss. However, it’s important to remember that this insurance may not be enough to cover your losses completely.
For one thing, many moving companies’ insurances only cover a certain amount per item. So, if you have high-value items, you may want to consider getting additional insurance to cover the full value of those items.
Additionally, most moving companies’ insurance has deductibles you will be responsible for paying in the event of damage or loss.
In short, while your moving company’s insurance may provide some protection for your belongings, it’s important to consider whether that protection is enough. If you have any doubts, it may be worth purchasing additional insurance to give yourself peace of mind.