Does my home insurance policy cover moving expenses?

Unless you’ve purchased a home and contents insurance policy covering both your old and new home, and added personal effects cover, it is unlikely that your insurer will cover any in-transit damage. You should plan on discussing the move with your insurer when transferring your policy, but also consider reading the product disclosure statement (PDS) for what your policy covers, and up to what limits.

If you intend to buy in-transit insurance, say from your removalist, you should similarly check the list of covered incidents. Usually, when you buy insurance from a removalist, you may only be offered basic liability coverage but not protection from damage caused by the removalist’s staff, theft, or vandalism. Consider buying additional coverage if you have many high-value items that you don’t want to expose to such adverse incidents.

In addition, if you plan to travel in the truck, you need to ensure personal injury coverage for yourself. You could also consider buying coverage from a specialist moving insurance provider if you need short-term storage facilities.

There are three main types of moving insurance that you can obtain:

• Transitional contents coverage: If you already possess contents insurance, it might include coverage tailored for your move. This insurance safeguards your personal possessions throughout the moving process, encompassing both your old and new residences.
• Transit insurance: This type of insurance safeguards your belongings while they are in transit from your former home to your new one. It provides protection in case your possessions are damaged due to incidents such as fire or traffic accidents during the journey.
• Accidental damage during transit: Extending the transit coverage, this option offers additional safeguarding against accidental damages incurred while transporting your belongings to your new home. For instance, it covers situations like accidentally dropping your washing machine from the moving truck.

Removalist insurance

You could be moving for various reasons, such as buying a new home or relocating to a new job. When entrusting your valuables to a removalist or otherwise getting them transported, you may want to insure them for the journey. 

If you’re transferring your current home and contents insurance policy to your new home, check with the insurer if damage caused when moving is covered. You’ll likely need to buy specific moving insurance if this is not the case, but do remember to compare the cost of adding coverage to an existing policy with that of buying specialised cover.

Consider buying additional insurance for your possessions well before you actually move as there may be an embargo period, and your policy may not be effective when you’re moving. If you’re moving your possessions for the first time, check if any new possessions that you may have bought for the new house are also covered, and update your insurance policy as necessary.  Also, check to ensure that your policy’s limits adequately cover your belongings.

You’ll also need to confirm that your insurer will cover outfitting your new home as well as refurbishing existing items, in addition to your high-value items.