Moving Insurance – Is It Necessary

There comes a time in our lives where we find ourselves consolidating our belongings, packing what we cherish most and moving it with us where ever life leads us. Whether planned or unplanned, life circumstances can change and seeing all your worldly possessions loaded into a truck and moving your life to a new home could not be a more fragile scenario. It is natural to feel some degree of anxiety, questioning whether your belongings will make it to your new home and what state would it be in if it does arrive.

Like any insurance, it is there to provide peace of mind in case any unforeseen circumstances should arise. Health insurance is there to protect your personal health, automotive insurance is there to safeguard your vehicle and there is moving insurance that can provide protection for all your possessions being delivered to your new home right until it is in its final position. Insurance is there in the event of an accident and unfortunately cannot be purchased when things go wrong.

Whenever goods are moved between homes there is a small degree of risk that the goods are lost or damaged. Moving insurance or Transit insurance provides protection for your belongings if this was to occur; even the most careful moving companies are not immune to accidents.

Researching moving insurance is one thing that shouldn’t be neglected throughout the process of moving. Naturally, most of us do have contents insurance and assume that our belongings are already covered by damage whilst it is being delivered but this is not correct. Contents that are already in the home are at low risk and the potential of contents being damaged which are not physically moved is highly unlikely, there is a risk of it being stolen but the prospect of having your entire contents stolen is relatively low. Hence, a lower insurance premium is offered and most likely won’t cover goods in transit, it is always a good idea to check with your contents insurance provider to confirm if you are covered whilst moving home, some insurance policies would cover during transit if only a professional mover is being utilized.

Other providers for moving insurance include removalists qualified to sell financial products, these removalists can offer insurance as part of their service. You can also look at specialist insurance brokers who are able to help with your moving insurance needs.  

Many removalists advertise as being ‘fully insured’, this can be quite general and may only be referring to the company’s public liability insurance, motor vehicle insurance and not third-party property. You should never make assumptions when it comes to insurance, always check and make sure you understand what you are and aren’t covered for.

All good removalists are covered for third-party property, they may be more expensive but knowing that they are legally responsible for damages to furniture during a transit is worth the money spent. For those who cannot offer transit insurance, any damage caused during a move would be difficult to claim and the owner could end up worst off by not having insurance protection in place.

The cost of moving insurance is based on the amount the contents are insured for and moving the contents of the Australian home to the other side of town can cost between $350 to $680 for insurance. Only you can determine if your contents are worth protecting and have peace of mind.

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