What happens if there’s an accident or theft during your move?

Transit insurance provides a level of financial cover if your belongings are damaged or lost while in transit from your old home to your new home, either within Australia or overseas.

You can get transit insurance from a specialist insurance provider, or through a professional removalist or shipping company.

The level of cover will differ depending on the provider and the policy. It may include cover for loss or damage to your goods when being packed and unpacked, when being loaded or unloaded to a vehicle, while in transit (such as a road accident or theft), or from removalist mishandling

You generally have three options to get transit insurance cover:

1. Through contents insurance

Some contents insurance policies do provide cover if your goods are damaged by a road accident in transit to your new home. However, exclusions and conditions may apply. For example, your policy may not cover your items if you use what is seen as a ‘non-professional’ removalist company, or during loading and unloading from a vehicle.

Other insurers don’t offer any transit coverage within contents insurance policies, or will only provide this additional cover if you pay an extra premium.

2. Removalist insurance

If your current contents policy does not cover your goods during a move, most professional removalists offer removalist insurance. Check that your removalist is qualified to offer you this insurance, and ask if it will cost you extra or is included in their price.

3. Standalone transit or moving insurance

If options 1 and 2 aren’t available or don’t meet your needs, consider using specialised moving and storage providers who offer transit or moving insurance. The cost will depend on a range of factors, and each policy will have different inclusions and exclusions to consider.

Note that generally, vehicle rental outlets don’t offer transit insurance on the items being transported – only on the vehicle itself (which is an additional fee).

And if you engage budget removalists on sites like Airtasker, they generally won’t don’t offer transit insurance on your goods either.

It’s important to understand the risks while moving your precious goods, and to consider the options for protecting yourself financially.
Always read the Product Disclosure Statement and Financial Services Guide before purchasing or changing cover, and talk to your insurer to understand exactly what you are and are not covered for, and whether the cover meets your needs.