I just bought a new house and will be moving soon. Will my belongings be covered by my home contents policy during the move?
Name withheld
Bertus Visser, chief executive of distribution at PSG Insure, responds: That’s a great question as many people get caught without the right cover. First, it depends on whether you will be using a professional moving company to transport your belongings, or if you’ll be doing it yourself. Most of the larger removal companies offer their own Goods-In-Transit insurance as part of their package, while some of the smaller companies don’t always offer insurance, or may offer less comprehensive cover. Always check the Ts & Cs carefully to see what is covered. It’s also worth checking your insurer’s cover against the removal company’s insurance policy. You should compare costs, cover options, exclusions and benefits to make sure you get the best overall cover. For instance, it should cover theft and damage caused by miss-handling or due to collisions and overturning. If you’re transporting your belongings yourself, it’s advisable to take out Household Goods in Transit cover. Make sure this is at the correct value to replace all your goods (or per maximum load of transporting your goods), should anything go wrong.
This letter appeared in YOUR QUESTIONS ANSWERED in Saturday Insider on September 25, 2021. The regular monthly feature is sponsored by PSG Wealth. Email money queries to martin.hesse@inl.co.za
PERSONAL FINANCE