As most people who have ever experienced moving home will tell you, it can be an incredibly stressful time in your life. But what about your insurance for moving house?
The devil’s in the detail
There’s so much to remember, especially if you’re buying a property. Your main focus will probably be on your solicitor and estate agent, and the physical practicalities of the move itself, and it’s easy to neglect some of the seemingly less significant details, such as your home insurance.
But overlooking such details can end up costing you a considerable amount of money if things go wrong, and increase the stress and strain still further.
Crucial insurance for moving house:
Contact your home insurance provider well in advance of the move
One of the main aspects of home insurance that many people find out about all too late is that you should contact your insurance provider in plenty of time before the actual move date.
If you’re buying a new property, you’re legally responsible for it the moment you exchange contracts.
If you assume it’s simply the day you move in, your new home could be uninsured for weeks. You need to tell your insurer well in advance so they can carry out the necessary assessment and transfer cover. You wouldn’t want the home you’ve bought to burn down and legally be uninsured, would you?
Your possessions on the move
Check with your current home insurance provider that under your contents cover your possessions are covered while in transit.This is often the case, but can vary from policy to policy. And many will only cover you if a professional, registered removals firm is doing the moving for you. So if it’s you and a few friends in a hired vehicle, or a man with a Luton van, you might not be covered for damage or loss on route to your new home.
With the business of moving your physical possessions being somewhat precarious (there’s obviously a much higher risk of damage or loss than usual), you’ll find that your cover won’t include accidental damage to fragile items, or the loss of jewellery.
Your removal firm’s cover
What your own insurer doesn’t cover, your removal firm (assuming it’s not of the man in a van variety) in all likelihood will. It’s worth checking with them however, as professional moving firms don’t come cheap and if they say they don’t have the right insurance, they’re probably not worth hiring.
The rebuild value of your new home
You might be trading up to a bigger property and if this is the case, it’s probably going to be a property that would cost more to rebuild if it were totally destroyed, in a fire for example.Again, you need to contact your insurer to give them your estimation of the rebuild cost on the new property in advance of moving. If not, you would find that your insurer either won’t cover it, or will only cover it up to the rebuild sum of the old property.
It’s a precondition of most home insurance policies that your property is reasonably secure. It may need an alarm, and certainly secure doors and windows locks as a condition of you being insured. Also, you need to tell your insurer if the property you’re moving from or to (i.e. the one you need to insure) is going to be unoccupied.
At policy renewal time
If you’ve moved to a different postcode, you may find that your current insurer will insist on higher premiums. When your policy comes up for renewal, make sure you shop around and compare quotes using an independent broker such as ourselves at Policy Expert.
Policy Expert is an online Home Insurance broker, dedicated to helping customers find the insurance policy that’s right for them. Our customers are at the heart of everything we do, so we have a team of experts with a real passion for making sure people get the cover that’s right for them. Policy Expert is driven by a desire to help you find not only the best value insurance, but the right insurance for your individual needs. To speak to one of our experts, call 0203 014 9300 or email firstname.lastname@example.org