Moving home insurance Q&A

house move

While it’s exciting, moving home is also one of the most stressful experiences you’ll ever face. From sorting out the fees to moving your energy supplier to deciding on what to take and what to throw away, there are a million and one things to think about.

Another thing that you will need to consider is home insurance, however, recent research revealed that a quarter of people had no insurance when they moved. This figure rose to 38% among young people, despite the fact they move most often. What’s more, 50% of movers didn’t use a professional to move their contents.

But how do you know if you’re covered for the move? When do you need to get home insurance? And what if your possessions have to go into storage before you move into your new home?

Take a deep breath and relax, because we’ve got all your moving home and insurance questions covered:

Q) What’s the difference between buildings and contents insurance?

Let’s start by clearing up the difference between buildings and contents insurance.

As Telegraph Money explains, buildings insurance covers the structure of the building plus fixtures and fittings. So this includes baths, fitted kitchens and anything else that can’t be “reasonably” removed or taken to another home. Outbuildings such as sheds and garages are generally covered under these policies.

Contents insurance covers personal possessions and items that can be reasonably moved. This includes laptops and TVs, furniture and even your clothes. According to the Financial Ombudsman, carpets fall under contents as they can be taken up and re-laid to an acceptable standard. Laminate wooden flooring, on the other hand, would fall under buildings insurance as it is difficult to remove intact, essentially making it a part of the building.

Combined insurance policies cover both buildings and contents. If you’re renting, however, you will only need contents insurance, as your landlord would be required to have buildings insurance.

Q) Do you need insurance to move?

You don’t need insurance to move but it is highly recommended. Some insurers won’t cover your move at all. Some may cover your contents when in transit if you’re using a professional removal service. Check with your home insurance provider prior to your move to make sure your possessions will be covered.

If you’re not covered, you may be able to add it on for an extra premium. Alternatively, your removal firm may offer its own insurance. Should items be damaged in transit and you don’t have insurance, you will not be covered.

Q) When should you start your home insurance policy?

If you’re buying a home with a mortgage, the lender will make buildings cover a condition of the loan, Zoopla explains. This means you will need to have buildings cover from the moment you take legal responsibility for your new home, which happens on the point of exchange (the signing and swapping of contracts) rather than the day of completion (when you receive the keys).

You should ensure your contents insurance policy begins on the day you’re due to move into your new home to protect your belongings from the moment they arrive.

Q) Can you transfer your home insurance?

If you already have buildings and/or contents insurance, you might be able to transfer the policy to your new address but you will need to check with your insurer. If you’ve bought any new furniture or electrical goods for your new home, you’ll need to add these onto the policy as well.

Q) If a removal company breaks your TV, is it covered?

Whether it’s a TV or any other personal item, if your contents insurance does cover damage during the move, it will be insured. But you should also check your removal firm is covered for insurance before signing on the dotted line.

According to My Lawyer, removal companies are legally responsible for any damage that occurs when your property is in their possession.

If you’re doing the move yourself and your TV breaks in transit, you will most likely not be covered.

Q) Will my contents be covered while in storage?

Again, you’ll need to check your current policy. If contents insurance does include storage, it generally only lasts a few days so, if you need to keep your belongings in storage for a longer period of time, you might need to take out specific storage insurance.

Why add more stress to your life than necessary? Here at Computerquote, we understand that every home is unique and we strive to find the right home insurance option for you, so you can just focus on enjoying your new home!

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Published: 10th July 2018 (VW)