Will Moving House Affect My Car Insurance?
Moving to a new house is an exciting time. A whole new world of opportunities will open up as you discover all that the new neighbourhood has to offer. However, moving happens in a progression with many steps to remember, such as organising accounts with energy providers, setting up a broadband connection, changing contact details, and much more. With so much running around it’s no surprise that many people forget to supply the new residential details to their car insurer.
Keeping your insurance company in the loop with any changes is important. Forgetting to change details is a simple mistake, but could also prove a costly one as your car insurance policy could be invalidated due to changes in your circumstances. In other words, if you have an accident and you are injured or your car is damaged, you may not be covered. On the other hand, your change in circumstances could result in a cheaper policy, so remember to talk to your insurance provider.
How does moving house affect car insurance?
There are a number of factors that will affect insurance premiums:
- Postcode: Insurance companies always factor in your postcode when providing a quote. Factors such as frequency of traffic accidents and the prevalence of vehicle theft in your suburb help insurers to determine premiums.
- Change of job: If your move is work related you will need to let your insurance company know. Your new job might entail a longer commute to work or extra time on the road. A significant increase in mileage could affect your insurance premium. Your change in circumstances could also mean you are driving less or residing in a safer suburb, both of which should reduce premiums.
- Garaging: Some older suburbs are quite congested. Moving companies are experienced in safe delivery of your possessions, but it could be a case of parking your car on the street. Providing a lockable garage for your vehicle will help reduce car insurance costs. The option of off-street driveway parking is favourable to kerb-side parking where damage or theft is more likely.
Car insurance is the vehicle owner’s responsibility
As with all other service providers, insurance companies need to be informed of any change in your circumstances. The policies are made to protect both the insurer and the insured, and there is little likelihood of any concession after a theft or accident if you haven’t adhered to your policy obligations.
Many people choose a moving company after shopping around prior to relocating, and it could also be a good time to find the best value car insurer. Every insurer uses their own unique set of figures to determine insurance premiums, and an alternative insurer might access your new postcode differently. It doesn’t cost anything to get a quote, and your old insurer might not provide a competitive deal. Your car insurance premiums can change even if you move to a nearby suburb.
Using your vehicle for moving house
A lot of people choose to carry valuable or fragile items in their car when moving to a new address. There could be a lot of travelling back and forth between houses during this time, so it’s important to keep valuables secure and out of sight. Although you may be rushing, it’s no time to leave the car unlocked to invite thieves. Prior to moving, you might want to check your car insurance policy regarding cover of the contents you are transporting in case of an accident or damage. A moving company can take care of the entire move, but any advance preparation by you will ultimately save you money by making the move easy, timely and successful for everyone.