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House Moving Insurance: Everything You Need to Know Before Purchasing It

posted: 8th January

home moving insurance in LondonThe safest and easiest way to relocate to and from London is no doubt by using the services of a removals company. By doing this, you will be certain that if something goes wrong, the movers must pay you for the unfortunate damaging of your property. Of course, this is only in the cases where the customers have purchased the proper moving insurance. But many people don’t actually understand what it is, that they are buying. Precisely why we have decided to create this easy to comprehend guide, explaining what is the moving insurance and how it works.

Why Do You Need It When Planning a House Move to London?

Everything is all about the long-term results. Like every type of insurance, you don’t need it until something bad has happened. To be fair most customers may never really use it, but to the small percentage that actually does – it is a lifesaver.
Think about it this way, if you are going skiing you would want to make travel insurance in the improbable event of an accident or other health problem. Likewise moving insurance will set your mind at ease and ensure you get adequately compensated for the damages your belongings may sustain.

Are There Different Types of Moving Insurance?

If this is your first time organising a home removal, it is good to inform yourself in advance. Many London companies offer various insurances based on the needs of their customers.

Depending on the premium you are willing to pay, the two most common types of insurance you can encounter are:

  • Full value: As the name suggests, this type covers the entire shipment, thus it is the most expensive kind. However, if you are moving overseas, it is the wisest choice. Under this plan, anything that is lost, damaged and/or destroyed must be either repaired, replaced or you need to receive a financial recompensation for it.
  • Released value: With this insurance, movers are responsible for a percentage of the full cost of your item based on its weight(rates may vary from one company to another). Meaning altho it is the most affordable insurance, it is not the most convenient one.

types of house moving insuranceThere are also insurances based on the type of house relocation, you are planning to do. They could include different coverage, depending on the things you are transporting:

  • Local house moving insurance: It is specifically made to protect your belongings during home removals in the UK.
  • International house moving insurance: You need to pick this one when you are relocating to and from the UK. It usually covers transportation by ship or aeroplane. Its value is understandably higher as the risk of an accident occurring is greater.
  • Storage insurance: This policy will cover the stay of your items in a storage unit and ensures, your belongings are safe from damage or theft.

The thing most customers are interested in is the actual coverage of the insurance. What will they get from it all?

  • New for old insurance: Whit this plan the damaged items will be replaced with new ones, without taking into account their age or general condition.
  • Indemnity insurance: You will receive a payment up to the current market value of the damaged property.

Need-to-know Insurance Facts When Planning a London Relocation

Now it is time to answer some basic questions about how insurances work and hopefully, help you to pick the right plan for your needs.

  • You can’t make a verbal insurance contract. You must always have it in ink. Never sign before reading it and if there is something you don’t understand – always ask.
  • need-to-know home moving factsIf your moving company is insured, this does not mean you are as well. In case you are moving your office to a different location, you need to make separate business insurance. Your movers will cover only the actual transportation of the items.
  • Owning a home contents insurance policy is great, but this doesn’t mean you are fully covered. Make sure to carefully check all terms and conditions before accidentally placing yourself in a vulnerable position.
  • Every moving company in London has its own basic removals terms and conditions and Liability, Extended Liability, Standard Liability, etc. can have different meanings. Be certain to read all of the provided information and understand what each stands for. Again if you have any questions, always ask.

Merely 8% of all professional house movers in London actually need to pay compensation to their customers. Damages and losses are a rare event in our business, but the good removals agent knows they have to be ready for everything. Don’t take lightly the risks and always protect your items. It is a small price to pay for your comfort and peace of mind.

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