After moving to a new vault, your original policy will usually not cover the assets in the new vault. The key point is that protocols like Nexus Mutual insure "the funds you deposited at a specific address in a specific protocol." If the address changes, the coverage changes too.
One policy does not automatically cover all assets under your name. Take Nexus Mutual's "Protocol Cover" as an example. The terms say it only protects the funds you have deposited into a certain DeFi protocol. Different deployments on EVM-compatible chains count as the same protocol. The cover is tied to the protocol's address and the funds you deposited there.
When you withdraw from the old vault and deposit into the new one, the custody address of your assets changes — from the old vault's contract address to the new vault's contract address. The policy does not migrate with it.
There is a small detail worth checking: if you transfer assets directly from one vault contract to another (without withdrawing to your wallet first), and the on-chain fund path still points to an address inside the covered protocol, you might theoretically still be covered. But in practice, most insurance terms treat "the deposit transaction into the specified protocol" as the insured event. Switching vaults effectively ends the coverage for the old address.
Common Misunderstandings
Many people think, "I bought insurance, so I am covered no matter where the money is." In reality, DeFi insurance generally covers "your assets at a specific address." Moving to a new vault means a new address, and you need to check if the policy covers that new address.
What You Should Do Next
Before migrating, log into the Nexus Mutual App and visit the "Your Covers" page. Check the specific protocol address and your deposit address tied to the policy. If you have indeed changed the vault address, the old cover usually cannot be transferred or renewed to cover the new address. You will need to wait for the old cover to expire, or cancel it, and then buy a new cover for the new address. If an attack happens after migration, a claim may require more complex proof to trace the fund path, which can make the claims process harder.
