Moving Day!

They say that moving to a new home is an extremely stressful experience, and I must agree. We moved to a new home mid-November and it was chaos but it also gave us a chance to purge through our belongings and to re-assess our home insurance.

The first thing you will find is that your insurance rate might just change. If you move to a different burrow, into or out of the city – different factors can affect rates. In my case, we moved about 10kms north and got a house more than double the size of the one we were in (yes – I am in the ‘burbs). With the combination of location and discounts available for new homes, my insurance premium actually went down!

Next you will have to take a second and assess the value of your contents. For example, our kitchen appliances upgraded significantly – we went from basic white appliances to a matching stainless steel set. The replacement cost of the new appliances is higher than the replacement cost of the old kitchen.

Another thing to re-assess is the coverage on your valuables. I may surprise you to know that most policies offer very basic coverage for valuables (for example: Jewelry may have $2,000 – $5,000 limit and furs may have $2000 limit etc). If your limit is far less than your value of these items – don’t fret! You can speak to your broker (or yours truly) and add the coverage to your policy.

Finally, it is a great time to re-evaluate your insurance policy type. If you are living in a house and move to a condo or apartment, your insurance needs will change drastically. he condo corporation’s insurance coverage.

Moving to a new place is an exciting time for people – just remember to lift boxes properly and keep hydrated (with water!!). For a free property inventory form check out the Insurance Bureau of Canada’s website:

Good luck and Happy Move!

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