When planning a move, whether it’s across town or across the country, understanding the insurance you have for your home and belongings is as crucial as choosing the right removals company. Removal insurance protects your possessions from damage or loss during the moving process. In the UK, there are primarily three types of removals insurance to consider: the industry standard (current value), high-value items insurance and new for old Insurance. Here’s a closer look at each type and some important tips to ensure you are fully insured.
Also known as “actual cash value” insurance, this is the most common form of insurance policy that compensates you for the item’s current market value at the time of loss or damage. This is what we have at Move On. This means the payout you receive considers the item’s age, wear and tear, and depreciation. The insurance company will usually look to cover the costs of repairing the damaged item, or when this cannot be done, giving you the cash in order to purchase a second-hand equivalent.
If you’re moving items that are particularly valuable, such as antiques, fine art, or jewellery, standard removals insurance may not provide adequate coverage due to their higher value. High-value items insurance is tailored to protect these kinds of possessions, ensuring that their full value is covered in the event of damage or loss. This type of insurance often requires detailed appraisals and valuations before the move to establish the true worth of these items. Removal companies may also be instructed on how the item should be wrapped or transported.
This type of insurance is designed to cover the cost of replacing your damaged or lost items with new ones, regardless of the age or condition of the original items. It’s particularly beneficial if you’re moving items that depreciate quickly, such as electronics or appliances. Under this policy, if an item is lost or damaged beyond repair during the move, you’ll be compensated enough to purchase a new equivalent item. This is rarely used in the insurance industry as it is very expensive, however companies may offer this as an added extra.
It is always important to know that items in boxes that are self-packed by customers are not insured under removals insurance. Whilst larger furniture is covered, boxes are only insured when packed by the company itself.
In conclusion, it is important to understand what insurance is available and what your particular removals company offers. Always make sure you ask the questions above to ensure your belongings are fully covered.
Our team is always happy to answer any questions you may have, even if you are not planning to move just yet. Be sure to give us a ring at 0117 259 1010.
