Mike's Money Blog

Moving House? You Should Think About Your Insurance Needs

Moving from one home to another can be complicated enough without thinking about the necessary insurance that should be confirmed. In some instances, it's just a question of querying the matter with any prospective moving companies. If they don't hold the necessary insurance, then this might rule them out. In other cases, you might need to obtain additional insurance yourself. So what do you need to know?

Public Liability

Does your chosen removals hold public liability insurance? This protects you (as well as you chosen removals company) against costs arising from personal damages incurred during the moving process. While it might be an unlikely situation, this insurance is necessary if the moving process was to result in personal injury to someone, such as if the removals truck was involved in accident while in transit. Be sure to confirm the extent of your prospective moving company's insurance.

Temporary Removals of Contents

In an ideal situation, you would simply move from one home to another. But life isn't always so straightforward. If your new home is not immediately available, you might find yourself in a transitional state. This might involve a temporary stay (for both you and your possessions) with family or friends, or in rented accommodation. Since your home and contents insurance will be unlikely to cover your possessions during this transitional phase, be sure to talk to your insurance provider to find out whether they offer a temporary removal of contents clause. This offers insurance for the items in question while they're in transit from one long-term dwelling to another.

Third Party

In the case of third party insurance, the first party is your removals company and the second party is their insurance provider. The third party is anyone who might require compensation as a result of any unfortunate incident that occurs during the moving process. It might be that a particularly bulky and heavy piece of furniture was to damage a neighbour's property during the moving process. It might be that your old or new home was damaged as a result of the actions of your chosen removalists.

However unlikely this might be, you need to ensure that your chosen removalists hold the necessary coverage. You don't want to be in a position where liability could conceivably be attributed to you if your chosen company don't hold this third party insurance.

Moving to a new home can be complicated enough. To reduce this complication, you should ensure that the necessary insurance is in place. For more information, contact local professionals like those found at National Corporate Broking Pty Ltd.