You’ve finally found the perfect home for you and your family. The process of moving is very exciting but can also be quite stressful. The next few weeks will keep you busy packing up, deciding what to throw out and what to keep, obtaining quotes from moving companies and possibly having to do maintenance on the home you are leaving or the one you are moving to. The last thing you are thinking about is the necessary changes to your insurance policy.
Fortunately, most Insurers have a grace period and allow a certain number of days after your relocation to notify them of the change of address. During this period your cover will be unaffected. Even though you have this grace period available, we suggest that the sooner you notify your broker, the better.
A change of address may impact your insurance premium depending on the location that you are moving to. The security that is present at the new location for example being in a secure estate, a linked alarm system and armed response, will have an impact. You might also want to revisit your insured amount, whether it be for your household content or for your building itself. If you have finally decided to replace that old living room set with a modern set to match your new home, it may be necessary to recalculate the insured amounts under your household contents section. We recommend that you consult with your broker in order to ensure that the valuation for your building is accurate and correct as it is not the price that you purchased the house for.
The last factor to look at is the move itself. If you are using a recognised and reputable moving company, your possessions will remain covered under your policy while being transported. Most reputable removal companies also have hefty liability policies in place so you shouldn’t be too worried about this. You will also be covered during the loading and unloading of your items during this process. We would not recommend that you use your friend’s bakkie when you are moving as this may affect your cover. Rather spend an extra amount and ensure that your possessions arrive safe and sound.
In conclusion, it is always best to communicate any changes with your broker. It is our duty to assist you during this process.