Everything You Need to Know About Moving Insurance
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Everything You Need to Know About Moving Insurance

Jun 21, 2019 If you’ve planned to relocate your home, make sure you hire a reliable and trusted moving company that can assure you the safe removal of your possessions. Whether you are moving within the Sunshine Coast or across the city, you want to ensure that your precious household belongings are being taken care of the sudden losses or damages. It is important to have a backup plan if your valuable items get damaged during the transition process. That’s the reason why people prefer taking moving insurance while hiring experienced Sunshine Coast Removalists. If you are moving for the first time and don’t know anything about the moving insurance, then this blog post is for you. This post will help you make the right decision and save you from sudden chaos or financial loss. Let’s get started!

What is Moving Insurance?

You should know the fact that moving insurance is not a regular insurance. Most of the removal companies offer valuations. The valuation acts like insurance: such as the moving company gives compensation for your valuable possessions in case of loss or damage. But these companies are not certified or obliged to sell insurance and are not governed by any regulation that applies to other insurance types. In simple words, if your removals company is covering your precious items, it is not insurance. Instead, you are setting the limits for your moving company’s liability if your belongings are lost, stolen or damaged. So make sure you should ask for valuations from the moving company to protect your belongings because it functions the same way as insurance.

Why do you need the moving insurance?

Do you know that most of the home insurances don’t cover the damage or loss to your household belongings during the transition process? Yes, this is true. However, some providers provide the coverage to include transit, but only if you hire professional and reputed Removalists for removals in Sunshine Coast. In case you are relocating your household items using your private vehicle, the company would not cover your belongings. This could put your possessions at risk of accident, damage or robbery. Well, this can be avoided by hiring a reliable moving insurance policy.

How does Moving Insurance work?

If you are moving your home across the town or state, make sure you acquire moving insurance. You can either take it from an insurance company or hired removalists. Precious belongings such as delicate items, jewellery and money are not included in moving insurance policies. You can include furniture, garden equipment and electrical appliances such as TV, refrigerator, AC and even your pets in the moving insurance. Below are some of the key factors that should be considered while taking the insurance:

Three Types of Valuations Options Available for you

However, moving companies in Sunshine Coast can’t sell insurance, but according to federal law, they are required to offer valuation options. Apart from this, you can also get moving insurance from third-party insurance providers. To know more, here are the different types of valuation options:

1. Released Value Protection

It is the most common coverage options that removal companies offer to their customers. Though they won’t charge you for released value protection, you may need to ask for the coverage against the damage or loss of your household belongings. The best part about the released value protection is that it comes at zero extra cost. However, it provides minimal coverage –it means the company is entitled to pay only a part of the money in compensation in case of damage or loss. When you opt for this valuation option, then your damaged belongings won’t be repaired or replaced when you file a claim. In such scenarios, you will be compensated only 60 per cents per pound per item.

2. Full Value Protection

This is one of the best valuation options that can give you full coverage against the loss or damage of your household belongings during the moving process. However, you need to pay a premium upfront to get the complete value protection. If you are searching for this particular type of insurance, make sure your moving company is liable to pay full replacement value of the belongings they are transporting. Being a consumer, you will get an opportunity to decide the worth of the belongings per pound before paying the premium for the coverage amount. Under this type of valuation option, your moving company will provide you with three options to fulfil your claim:
  • Replace the item (at the comparable value)
  • Repair the belonging
  • Pay you the cost of repair or the current market value of the good.
Quick Tip: In full value protection, many removal companies have the right to limit their liability for highly expensive items. It includes antique and other high-value items. So, clear your doubts before getting into the process of acquiring fill value protection against the loss or damage of your belongings while in transit.

3. Third Party Option

You can also search for additional insurance to protect your precious items during the relocation and reduce the stress of moving these items. Make sure you decide the value of your belongings and also assume how much insurance would cover your belongings. If you want full coverage against the loss of your items during the transit, then look out for third-party options. Third party insurance covers damage from natural calamities such as floods and earthquakes. It also covers items of extraordinary value over $ 100 per pound.


Moving insurance is not like a regular insurance policy. However, it acts in the same manner- protects your belongings from damages and losses during the relocation. Removal companies in Sunshine Coast calls this type of coverage as valuation. It is the amount of the liability a moving company pays if your items get lost or damaged during the transit. So, make sure you choose the best moving company which can offer you the most reliable valuation options for your precious belongings.