Yes it is a recession and apparently, no one is moving home... Well, never say never. This could all be set to change. So in a wonderfully pre-emptive manner, we wanted to cover this tricky little area and talk about the effect it has on home insurance coverage.
Moving house is one of those areas of Home insurance where knowledge of the average consumer might need bolstering. When you realise the risks presented, you might think;
Hang on, what happens if our stuff gets into an accident, is broken or stolen in the move?
You would be totally correct and prudent to explore this eventuality as we all know how things can get buffeted and even “lost” in transit. Moving house is unfortunately, no exception.
"Sadly its also one of the few occasions where your contents are exposed to third parties and forces outside of your control."
Above all, the stress and pressures that result from a house move should not be supplemented by insurance stress, but it is worth considering the 'insurance side' of things before you move and / or even contact a removals firm.
Am I already covered?
The first question you need to satisfy yourself with is: “Am I already covered under an existing policy?” If the answer is no, you need to address it; either with your current insurer, or by purchasing short term cover for the removal.
A lot of removals firms are very professional but none of them can 100% guarantee that things won’t go wrong. Some might even offer you cover for the removal process, charging you based on the price of your move.
It is critical when considering the insurances that you read the wordings for both your existing policy and those that you might purchase from a removal firm. The key clauses you should focus upon surround the issue of “who packed the items”.
Think about the packing!
Some removal firm’s insurance cover might only be valid if you both agreed that they would professionally pack the items. If you feel happy enough to pack your own property, then this clause would effectively scupper any coverage which presented this kind of clause.
This would effectively make it a waste of money. Bear in mind, that unless your removal firm is “an appointed representative” or “authorised by the FSA” they would be on thin ice if they were advising you.
Always seek insurance advice from an authorised or regulated entity, its safer all round. There are professionals for a reason: it’s a complicated product!
Engage with your home insurance provider
A lot of insurance policies will cover your property when it is being moved already, it is still always best to tell them about your changes in circumstances and ask the question. If they don’t cover it as standard, ask if they can include it for your schedule move date.
Check your policy until satisfied that you are meeting the necessary clauses to maintain your side of the insurance contract.
Be particularly demanding with your removal firm about the security of your goods and each property. They are not to leave your goods unattended or in plain view, this could jeopardise any cover you have as well.
Moving house, could save you money?
There are a few ways moving house might save you money, with specific regard to your home insurance. You could reduce the amount of contents you have, reduce clutter which reduces the risk of accidents or breakages plus it cleans your house up.
Your new neighbourhood might also be safer or your house cheaper to insure (especially if you are downsizing). Check out http://www.upmystreet.com/ site for details. Its up to you if you have the time, but checking other insurance companies prices for your new house could show you cost savings.
You may not need to necessarily change insurer, but knowledge is power, as a consumer you should demand an honest service. If they cannot match the other prices, find out why. Don’t forget, you pay for what you get; there are generally reasons when something is too cheap. They are unlikely to volunteer a reduction in premium without you asking.
When moving house insurance is still your ally; hopefully you won’t need it, but it would be far more stressful to find out you weren’t covered and something did go wrong.
James*
Marketing & Branding
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