Does Moving House Affect Your Car Insurance?

Does Moving House Affect Your Car Insurance?

Oct 07, 2022 Your mind remains occupied with several responsibilities during the relocation process. As a result, you forget some crucial things that can cause a problem in future. One such thing is updating the address with the car insurance company. Several factors influence the premium of car insurance, which includes your age, the condition of the car, history as a driver, where you live and so on. Many people overlook the importance of updating the address because they don’t know how relocation affects the car’s insurance. When people make plans for relocation, they focus on tasks like hiring professional removalists in Newcastle, transferring utilities, arranging moving supplies, etc. However, you also need to focus on tasks like notifying your car insurance company. Read on to know how moving house affects your car insurance.

Does Moving House Make Your Car insurance Invalid?

If you move home and forget to update the car insurance company with your new address, does that mean your insurance becomes invalid? Well, this is not how things work! If you move to a specific place that is considered ‘less safe’ but covered by the insurance company, you can still make a claim. Having said that, you are most likely to be charged an increased amount as a premium because the new location has increased the risk factor. Although the amount may vary from company to company, it could be up to a couple of hundred dollars. So, it is advisable to read the clauses properly when opting for car insurance. Lack of research and planning is one of the reasons why moving house is so stressful. So, make a detailed plan and focus on every minute detail, including car insurance.

What If the Company Does Not Cover The New Location?

If you move to a state, city, area or territory where the current car insurance company does not provide any cover, the claim may be denied. Facing any situation where you are potentially not covered is avoidable. All you need to do is contact your car insurance company and let them know about your move. Just confirm your identity over the phone and provide information about your moving date and new address. Ask them if there will be any changes in the premium amount and the entire process of updating the address. If you find that you have to pay a more expensive monthly premium due to the new place, it is time to review your coverage and look for other insurance companies in the market. You must find great value car insurance, irrespective of where you live.

When You Should Notify Car Insurance Company?

It is always advisable to inform your car insurance company about the address change in advance. Once you have decided on the moving date, notify your insurance company about the date and new address immediately. If you are moving on very short notice, make sure that you communicate with them as soon as you get the time. There are many such tasks that people forget due to the pressure of relocation. If you do not want to overlook such vital responsibilities, make sure your contact a professional removalists Newcastle.

How Relocation Could Affect the Car Insurance?

Most people are not aware of the fact that relocation has an impact on car issuance. Here are some important aspects that affect car insurance after the move.

The Neighbourhood

Insurance companies have the traffic data and police records of different places, and that helps them to determine how safe a neighbourhood is. That is why the insurance premiums may cost slightly different depending on your location. You could move to the next suburb or a few streets over, but the cost of the premium could still change. You might think a particular neighbourhood is safer due to fewer car thefts, but that is not how things work. The place might have had a higher percentage of road accidents because of a blind corner on one of its streets; such things affect the risk profile for the company. Updating the insurance company about moving is one of the important things people forget while relocating, but you must remember it at any cost.

The Parking Area

Your parking issue is another factor that could affect your insurance rates. Perhaps you now have access to a garage that can be locked. Now that your vehicle is safer against theft, your car insurance company will understand this lower risk and could charge you lower monthly charges. So moving to a place that offers off-street parking can lower the insurance costs.

Distance You Drive In a Year

If you sign up for a “low kilometre” driver coverage, several insurers will lower your premiums as long as you don’t exceed a specific annual mileage. Therefore, if you are moving to a place where you need to commute a long distance, you might need to take this into account.

The Bottom Line

Moving house can affect your car insurance, so it is important that you pay attention to this important aspect of moving. Do not forget to update your insurance company about the new address, as it will minimise a lot of stress and hassles in future. To make the relocation easier, you should consider hiring trained removalists in Newcastle. They will let you focus on every important aspect of moving and ensure the safety of the products.