Everything You Need To Know About Insuring Your Move
In their latest blog post, Wise Move have named Genesis Insurance Brokers as one of the Top 10 Business Insurers
for Moving Companies and Other Businesses in South Africa.
Wise Move was founded in 2017 to give control to both customers and providers over the removals process, providing both with the tools to
make every job convenient and simple for both parties.
Moving is known to be a stressful and expensive time for home or business owners, and there’s a risk of overlooking important details when
dealing with what can be an overwhelming experience. Perhaps the most important factor is insuring your move.
Our latest blog is dedicated to bringing you everything you need to know about insuring your move and how to make sure
you’re adequately covered for potential moving-related damages.
WHY MOVING MATTERS
If you’re moving to a property you’ve recently purchased, it’s important to have buildings insurance in place prior to your move so you’re covered if
something happens to the structure of your new home before you move.
If you’re renting and moving into a new property, you’ll only need contents cover for your possessions as the landlord is responsible for insuring the
Household contents insurance not only gives you peace of mind in the event of fires, theft or other potential household disasters, but it can also be
used to protect your belongings while they’re in transit.
Most insurers allow you to add this additional cover to your existing home contents insurance before your big move, but the move needs to be
completed by a professional remover, and you will need to supply details including the moving date ahead of time.
In-transit cover may incur an additional fee, so check with your broker or insurer to understand the terms and conditions of your policy.
WHAT ARE MY OPTIONS?
Before insuring your move, you should ask your broker to compare costs, specific details of the cover offered, and benefits.
If your household contents are not already insured, or if your policy only has limited cover, it is possible to take out a Household Goods in Transit
policy to ensure you are covered for the move. This is a separate policy and the cover would only be valid for the duration of the move.
Goods in transit insurance is available for both domestic and business moves, and can:
- protect your goods in the event of a motor vehicle collision
- pay out for damaged goods – malicious damage and hijackings are often included
- offer cover against damage caused by natural events such as hail or floods
If you are using professional movers, they will usually have a policy which includes goods in their care. However, this cover varies depending on the
policy and is unlikely to pay out for any particularly expensive items.
Most professional moving companies also offer their own insurance and your quote will usually include a charge for cover for goods in transit. If you
are using the services of smaller removal companies, insurance is not normally included.
THE FINE PRINT
Whatever cover you choose, it’s important to note any damages caused by the movers when you are unpacking. Certain policies stipulate a deadline
by which any claims for damages need to be submitted.
It is also vital to make sure the household contents in transit are insured at the correct value. Being under-insured means your insurer will only pay out
part of the claim, while being over-insured will make your premiums higher than they need to be.
The team at Genesis Insurance can guide you through everything you need to know about insuring your move, taking into account the requirements
for your particular circumstances, and ensuring that you’re correctly covered if damages occur.