If you’re asking yourself about moving insurance, you’re probably at the end of the home buying process. So you’ve bought a new house, signed the contracts and received the keys – congratulations! Moving home is a hugely exciting prospect and there’s a lot to look forward to for you and your family.
Naturally it’s not all picking out new wallpaper and choosing the best bedrooms – there’s a lot of organising to get done, not least the actual moving process itself.
Moving home is a big deal, and you’re moving the entirety of your possessions across towns and sometimes across states. That also means all of your treasured memorabilia, all your precious items and every single one of the high-value bits and bobs that you’ve accrued across the years.
With all of the rush and activity of moving, things can get damaged and worse, go missing. So it’s always a good idea to give you and your stuff the proper protection it deserves. One of the best ways to do this is to take out moving insurance that gives you good coverage for all your gear.
It may add to your costs of moving but it is worth it to keep your items protected.
Not sure how to go about getting insurance? We’ve got you covered – read on to discover our handy guide to insuring your house move.
What is transit insurance?
So far, we’ve referred to moving insurance as just that – but it’s more official name is ‘transit insurance’. Sometimes it’ll be called removals insurance too – these all mean the same thing.
Transit insurance will cover all of your possessions for a house move, meaning that if any of those possessions gets damaged or lost, you’ll get repaid the value of that item in full.
In short, that means all of your prized items can be replaced where possible, or reimbursed for if not.
What is covered by transit/moving insurance?
When you take out a transit insurance policy for your move, you’ll find that there are different levels of cover offered by different transit insurance providers. These different levels of cover look after different things like worldwide transit or cover for alternative storage options. To find the cover that’s right for you and your possessions, you’ll need to undertake some research to compare your options.
Here are a few common things that transit insurance covers:
- Loss or damage to goods in transit – If you’ve hired a trusted moving company with experience and training, the chances of your possessions getting to the right destinations are very high. But if you want to be absolutely sure, transit insurance can see you get reimbursed if any of your insured goods get damaged or lost on their way.
- Loss or damage because of traffic accidents – As above, drivers for good moving companies will have bags of experience behind the wheel, so traffic accidents while you move house are thankfully very rare. General loss or damage cover may not cover traffic accidents, so if there is an incident, some transit insurance can cover any damage or loss.
- Loss or damage from removalists – Removalists are good at their job; they are the professionals that most of us turn to when things get a bit too much. Even professionals can make mistakes though, and having removalist damage or loss in your cover can protect you from any accidents.
- Incidental storage costs – If anything goes wrong in your removalist’s journey, such as delays or accidents, your possessions may need to be placed in storage until any issues are resolved. This can cost money and thankfully, some insurance packages will include incidental storage costs that can reimburse you the money spent on hiring storage space.
- Worldwide cover – Most transit insurance won’t cover worldwide house moves off the bat unfortunately – mostly due to the extra distance and extra potential for things to go wrong. Worldwide cover fixes this, protecting your possessions for long haul trips. It’s worth bearing in mind that some countries might not be insured so always check the small print.
Those are just a few examples of cover types and varieties that can be added to moving insurance packages. There are other, more unique and specific, examples that can suit your needs – be sure to put in some research to find what’s best for you.
Is my move covered by home contents insurance?
If you have a robust home insurance policy already in place, you may find that your move is already covered under a ‘goods in transit’ clause.
You’ll want to check this out before you invest in a moving insurance policy that you won’t need – look for this in the home insurance policy documents you’ll have received when taking out the policy, but you can always get in touch with your provider for more details.
How much does transit insurance cost?
Transit insurance, like most other kinds of insurance, can cost different amounts depending on a number of factors. Relying on averages can be deceiving so the best way to get an accurate picture of how much transit insurance can cost is to get a quote from the insurance provider you’re interested in.
That said, it can be handy to know what the factors are that can affect the price of transit insurance. Common reasons include:
- What level of cover you want
- The method of transport you choose – road, sea or air
- The kinds of possessions you’ll be moving
- The distance travelled to the new destination
- The number of possessions you’ll be moving
- Any add-ons or extras you’ll need
- The moving company you hire
What items can be insured for a move?
Transit insurance can cover a range of items, but there are some things that many insurers will not cover with their policies.
There can be any number of reasons why insurers refuse to cover certain possessions, but mostly it comes down to how much risk there is involved with moving items. Delicate antiques are often high up on the list of refused items, as are small and easy-to-lose valuables like jewellery or medals. Pets are also normally a no-go, while dangerous or harmful things like guns or chemicals are generally passed over.
Generally, these exclusions will be well documented in the policy documents which should be made apparent to you before you buy the insurance. Be sure to have a read before you pay to make sure that whatever you need transporting is covered.
Who provides transit insurance?
There are a number of transit insurance providers right across Australia who can assist with your move, but you’ll want to pick out the transit insurance policy that completely covers you and that fits within your budget.
Google and the rest of the internet is your friend here. Try to make a list of the insurance providers that can insure your move and then compare their prices and reviews to find the provider that works best for you. Once you’ve got a provider in mind, find a professional removalist company on Upmove, or a similar service – only when you have a removalist on standby is it time to put some money down for an insurance policy.
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