Are you moving? Learn how to stay covered during your move

Yes, if you're a TD Insurance home insurance customer and you're moving within Canada, your policy coverage continues to apply to your belongings for up to 45 consecutive days while they're on the move (as long as you're also insuring your new home with us).

This means your belongings will still have the same coverage during the move as they had before your move. But keep in mind: This continued coverage is only for events covered by your policy (for example, theft or fire). Your items in transit won't be covered for certain types of damage that can occur during a move, such as scratches and dents, or if something fragile breaks. That's because your home insurance policy doesn't provide coverage for these kinds of damage or breakage even when your belongings are at home and not on the move.

Before you move, talk to your insurer. Changes such as square footage, location, or features like a pool or finished basement may affect the type of coverage you'll need. Your insurance company can provide guidance on what changes might be necessary to ensure your insurance keeps up with your coverage needs.

Yes, becoming a homeowner or condo owner will absolutely affect the type of coverage you need. For example, if you’re moving from a rental home or apartment to a condo unit that you own, you'll need to switch from tenant insurance to a condo insurance policy which will cover your personal belongings and improvements that have been made to your unit. And if you're moving from a condo to a house that you own, you'll need to change from your condo policy to a homeowners insurance policy, which includes coverage for the physical structure of your home (while your condo insurance provides coverage for your unit, it doesn't cover the building itself — the common elements and common portions of the building are usually covered by the condominium corporation's insurance policy).

Whether you're a homeowner, condo owner, or tenant, a licensed TD Insurance advisor can provide you with coverage that's tailored to your needs.

Learn more about the different types of home insurance and how they can protect you:

Are you a homeowner? Learn more about home insurance.

Are you renting? Learn more about renter's insurance.

Are you a condo owner? Learn more about condo insurance.

Moving your property into storage could affect your coverage, so it's always a wise move to talk to your insurance provider first. They'll be able to tell you what's covered by your policy, and whether there are any coverage gaps you may need to fill to help protect your stored property.

If you have a home insurance policy with TD Insurance, for example, you could get the coverage you need for your stored property by adding the storage location to your policy and purchasing our Property in Storage coverage for that location. Conditions apply, so speak to a licensed TD Insurance Advisor to learn more.

Yes, it's wise to consider purchasing additional coverage from your movers. As we mentioned, home insurance policies don't cover cosmetic damage such as scratches, chips, and dents and exclude coverage for the breakage of fragile or brittle items (generally, items made of a material that's easily broken, like glass, ceramics, or porcelain). So it's a good idea to talk to your movers about any extra coverage they might offer, to help you with coverage gaps.

For example, if you have a home insurance policy with TD Insurance, and your movers drop your TV and break it, you'll be covered. But what if your movers accidentally scratch your dining table during the move? Like most home insurance policies, scratches, chips, and abrasions aren't covered. Same goes for your porcelain figurine collection: If your movers break one of the figurines, it also won't be covered by your policy, because it's a fragile or brittle item. And in both cases, the government-mandated insurance movers carry often won't be enough to cover the cost of fixing the damage or replacing the broken, fragile item.

Of course, buying additional coverage from your moving company adds to your costs, so whether it's worth it depends on your situation and how much risk you're comfortable with. When we asked our team, some said they'd go for it, while others wouldn't. But we all agreed, it's reassuring to know there's coverage available that can cover certain types of moving damage that your home insurance might not.

All professional movers in Canada are required to include basic liability coverage (called released value protection) with every move. It's a legal minimum, and it's free—but it's quite limited because it's based on an item's weight rather than how much it's worth.

The per-item rate is generally $0.60 per pound (or $1.32 per kilogram).¹ To see how this basic coverage works, let's say you're moving a dining room table weighing 250 pounds (113.4 kgs) and valued at $4,000. During the move, the tabletop gets a deep scratch. Here's what your payout under the basic movers coverage would be:

250 pounds X $0.60 = $150

As you can see from this example, if you're concerned about damage that isn't covered by your home insurance, this basic, government-required coverage often won't be enough to repair or replace damaged items. So if you have concerns, check with your moving company about purchasing additional coverage from them. Some movers offer replacement value protection, which provides coverage that's based on an item's value. Details can vary, so if your moving company offers this additional coverage, be sure you're clear on the terms of the coverage before you purchase it, such as what's covered, what's not, and how (and when) to make a claim.

Yes, the amount of your home insurance premium will likely change when you move. That's because the cost of home insurance is based on several factors, like your home's age, past claims in your neighbourhood, and even how close you are to a fire station or fire hydrant. So, if your move results in a change to any of the factors considered by your insurer, your premium will also change. To learn more, check out our guide to how home insurance premiums are calculated.

From bundling your home insurance with your auto insurance to installing a monitored home security system, there are lots of ways to save on your home insurance. See our tips for lowering the cost of your home insurance, and over 30 ways to save on your home and car insurance with TD Insurance.

There's more to protecting your belongings than just packing well. When you're changing addresses, your home insurance should move with you. If you're already a TD Insurance customer, you can chat with us or manage your policy through MyInsurance. Or, if you're looking to switch to TD Insurance, get an online quote now.

¹https://ised-isde.canada.ca/site/office-consumer-affairs/en/buying-and-leasing-big-ticket-items/moving-advice#s4