Home insurance and important considerations when moving home

Moving home can be a stressful time and it’s easy to forget some of the essentials but can you afford to forget about your home insurance?

Not taking steps to ensure your home insurance cover will be intact while you move could be a costly mistake – so here we look at what to consider when moving and how to ensure you are well protected.

How can home insurance help when you move home? 

If you are moving house, calling your insurance provider should be one of your top priorities. Clearly your new home will have different features when compared to your old house – for example if the new home costs more to rebuild, then your premiums will usually be higher - and as such, you can’t simply transfer a policy from one property to another without informing your insurance provider first.

When you move house, you have two options: inform your existing insurance provider with the intention of switching your existing policy to protect your new home; or cancel your existing policy (for which there may be a fee) and take out a brand new home insurance policy at your new property.

There are a number of advantages to continuing with the same insurance company – some companies will even provide cover during the moving process itself. For example, your home contents may be protected against accidental damage or loss while on the move between properties and there may even be cover for items that are left in storage (although typically there will be a limit on how long items can be stored for – usually in the region of 72hours).

However, it’s important to examine the terms and conditions carefully. In most cases you will only be covered if you are using a professional removal company and if you want to insure breakables such as glass and china, most insurance companies will stipulate that these goods are packed away by professionals. Also be aware that an additional excess may apply to items while they are moved – typically this will be in the region of £50. It’s worth giving your insurance provider a call so you know exactly what cover you have during the move. 

In addition, your existing home insurer may be willing to update your records instantly to cover your new home as long as you call and inform it of your change of address. Bear in mind too that you will need to arrange adequate cover for your new home and its contents, which will mean making a careful assessment of your new property.  

Some home insurance companies will even offer help to anyone moving into your old property. The purchaser may have the benefit of your buildings insurance up to the date of completion (providing the building is not otherwise insured) and your new home may be insured for up to three months from the date of exchanging contracts to purchase (length of cover varies depending on the policy).

What if you need to arrange new home insurance cover? 

Before you sign with your existing home insurance provider at your new home, it’s worth getting an overview of the other deals on the market. This needn’t be time consuming – just enter your details, along with those of your new home, into a comparison website and it will do the work for you, returning quotes from up to 65 different home insurance companies with the cheapest listed first. 

However, while the price of the policy is important you should also pay attention to the cover levels available. Typically, a home insurance policy should include: 

- Buildings insurance: To cover the structure of your home and its permanent fixtures and fittings – cover may also be available for outbuildings, underground pipes, cables and even glass in doors and windows. Check to see what you’re covered against – such as storm damage, subsidence, malicious damage, theft, floods and fires – and ensure that the sum insured is sufficient to cover the rebuild value of your home. 

- Contents insurance: This is designed to cover the items in your home that are not permanent such as carpets, curtains, electrical items, furniture and clothing. Make a careful assessment of their values and ensure that you have sufficient cover – most policies have a limit on how much you can claim for single items, typically in the region of £1,500. Also check to see whether the policy offers ‘new for old’ cover meaning that if your possessions are ruined they will be replaced with brand new items; or ‘wear and tear’ cover, which means a percentage of what you paid is deducted for depreciation.

Read the terms and conditions of each policy you’re interested in thoroughly and check for exclusions – circumstances in which you will not be covered. Also pay attention to the policy excess, as the excess is your contribution towards a claim.

Additional tips for moving home 

Once you’ve decided on the best home insurance policy for your needs you may be ready to move home – so here are some additional tips:

- Take the time to have a good clearout before you move, getting rid of any unwanted items, perhaps by passing them on to a charity shop or holding a garage sale.

- Pack and clean as much in advance as you can – items you don’t need on a daily basis could be packed away and stored in a corner.

 - Write everything down as you pack – make notes on the boxes as this will help when you unpack.

 - Keep important documents with you at all times and carry them personally to your new home – this includes everything from financial documents to deeds and ownership documents, and even things like your driver’s licence and passport.