Like about 200,000 other Quebecers, Annie moved last July 1. She got the keys to her new apartment before the big day, so she started moving over some of her stuff ahead of time. But some of it was stolen before she moved to her new address, including a brand-new TV. “Thankfully,” she said, “I was covered by my home insurance.” With the payment of her insurance claim, she was able to buy another TV.
A lot of similar misadventures happen during moving season. If you’re well-insured like Annie, you don’t need to worry. If you’re not, read on…
Home insurance for before, after and during your move
Home insurance (for whatever kind of home you own or rent) will cover you in case of mishaps before, during and after your move. “It’s important to know that this type of insurance provides 30 days of coverage between the old address and the new one,” says Line Crevier, Supervisor, Technical Affairs and Insurance Information Centre at the Insurance Bureau of Canada. Your belongings are automatically covered at both locations.
If your move takes more than 30 days (for example, if you are living in a new house while waiting for the old one to sell), you need to adjust your insurance policy.
“The first thing to do as soon as you know your new address is to contact your insurer to update your home insurance and make sure the details are adjusted to fit your new home,” says Crevier.
For example, if you’re moving from a 2nd-floor apartment to a semi-basement, your risk of a sewer backup will be greater. Are you moving in with your partner? Have you bought new furniture? Your insurer will adjust your policy based on the changes to your situation.
If a friend has the misfortune to get hurt while helping you move your furniture, it’s good to know that your home insurance includes liability protection in case you’re held responsible for injuries or damages to another person or that person’s property.
If something gets damaged during the move, your professional mover’s (if you have one) insurance will cover the damage up to a certain point. Then your home insurance can take over. If one of your friends drops your computer, you may be covered, depending on whether you purchased a comprehensive or named-risk policy.
Find out more about what home insurance covers:
Protect the people you love with mortgage protection insurance
Just bought your first home? Congratulations! Now you need to think about protecting yourself and your family. Mortgage protection insurance has 2 components:
- Life insurance (either term insurance, for the life of your mortgage, or permanent insurance, for your entire life) can help your family keep a roof over their heads if you die before your home is paid for.
- Critical illness insurance pays a lump sum you can use for mortgage payments or anything you else you need, if you become seriously ill with one of the conditions covered by your critical illness insurance policy.
Before you move
- Contact your insurer as soon as you know the date you’re are moving and your new address.
- Remember to let your insurer know about any changes to your personal situation (going from being ain a couple to aor single, etc.) and, as well as the size, type of construction, fire protection and other details ofcharacteristics of your new home.
- Reassess the value of your belongings if you’ve purchased new furniture.
- If you’re buying, look into getting mortgage protection insurance.