Updated on 09 April 2024

Moving Insurance: Is It Worth It?

This blog post provides a comprehensive overview of what moving insurance covers, highlighting protection against accidents, theft, and natural disasters. It also outlines the limitations of moving insurance, emphasising exclusions such as normal wear and tear, pre-existing damage, and mechanical breakdowns.

This blog post provides a comprehensive overview of what moving insurance covers, highlighting protection against accidents, theft, and natural disasters. It also outlines the limitations of moving insurance, emphasising exclusions such as normal wear and tear, pre-existing damage, and mechanical breakdowns.

The post concludes by encouraging readers to read the fine print, understand coverage details, and file claims promptly if needed. Additional tips include seeking recommendations, checking online reviews, and exploring group rates for potential savings.

Overall, the blog post provides a well-rounded guide to help individuals make informed decisions about whether to invest in moving insurance.

What Does Moving Insurance Cover?

Moving insurance typically covers damage or loss of your belongings caused by:

Accidents:- This could include anything from a truck getting into an accident to a box falling and breaking your favourite vase.

Theft:- Whether your belongings are stolen from the moving truck or your new home, moving insurance can help you recoup your losses.

Natural disasters:- If your belongings are damaged by a fire, flood, or other natural disaster, moving insurance can provide financial protection.

What Doesn't Moving Insurance Cover?

It is important to note that moving insurance doesn't cover everything. Some common exclusions include:

• Normal wear and tear: If your furniture gets a little dinged up during the move, that's probably not covered.
• Pre-existing damage: If your belongings were already damaged before the move, they won't be covered by moving insurance.
• Mechanical breakdown: If the moving truck breaks down and your belongings are damaged as a result, that's likely not covered.

Is Moving Insurance Worth It?

Whether or not moving insurance is worth it for you depends on a few factors, such as:

The value of your belongings:- If you have a lot of valuable belongings, such as antiques or jewelry, moving insurance is a good way to protect your investment.

The distance of your move:- The longer the move, the greater the risk of something going wrong. If you're moving across the country, moving insurance is a good idea.

Your risk tolerance:- Some people are more comfortable than others with taking risks. If you're the type of person who likes to be on the safe side, moving insurance is worth it for peace of mind.

How Much Does Moving Insurance Cost?

The cost of moving insurance depends on the value of your belongings and the distance of your move. Typically, it costs around 1% to 3% of the total value of your belongings.

Tips for Saving Money on Moving Insurance

• Get quotes from multiple companies.
• Increase your deductible.
• Only insure your most valuable items.
• Pack your belongings carefully.

Here are some additional things to keep in mind:

• Read the fine print of your moving insurance policy carefully before you buy it.
• Make sure you understand what is and is not covered.
• File your claim promptly if something does happen to your belongings.

Ultimately, the decision of whether or not to buy moving insurance is up to you. But hopefully, this blog post has given you some information to help you make an informed decision.

I hope this blog post has been helpful. If you have any questions, please feel free to leave a comment below.

In addition to the tips mentioned above, here are a few more things you can do to save money on moving insurance:

• Ask your friends and family for recommendations.
• Check online reviews.
• Get a group rate if you're moving with friends or family.