Nathan Blackler, insurance expert at GoCompare home insurance, has warned that failing to make these five insurance checks before moving could be very costly.
1. Life insurance covers the mortgage
Blackler says that if you are moving with a partner or children, it’s important to check that your life insurance pays out enough to repay the mortgage. A life policy should either pay off the remaining mortgage balance, or a fixed sum that provides extra financial help.
2. The home is insured at the exchange
As soon as contracts are exchanged, the buyer is responsible for property repairs, which is why it is important to have building insurance ready.
3. Belongings are covered during the move
Many contents insurance policies cover your possessions during the move, but only if you’re using a professional removal service. It is crucial to ensure that everything is fully covered during the move itself.
4. The value of belongings
Moving home is an ideal time to review the level of contents insurance to ensure you are fully covered.
5. You are covered if the new home is empty
If there is a gap before moving into the new home, it may be empty for a while. Many home insurance policies restrict how long a home can be unoccupied before cover is cancelled.
For more advice on house removals in Liverpool and beyond, our expert team at Merseyside Movers & Storers is here to help you with all moving-related matters.
