Why your most valued possessions might not be covered
As a Property Insurance Broker I am regularly looking at Home Insurance policies. I’ve noticed a common mistake that some customers make when arranging insurance for their most valued possessions.
A home insurance policy that includes cover for contents will protect the items in your home if any of your possessions are stolen from or damaged whilst in the home.
But what about the items that you take away from the property?
Most people don’t leave home without their iPod, tablet, mobile phone and jewellery.
Unfortunately they might not be aware that many standard contents policies don’t cover belongings outside of the home.
If you left your mobile phone in a taxi, lost your wedding ring whilst paddling in the sea, had your designer watch stolen from your gym locker… you would not be able to claim.
Personal possessions cover can be added to your home contents insurance to cover such losses.
What is Personal Possessions cover?
Personal Possessions cover (sometimes also referred to as ‘All Risks’ or ‘Personal Belongings’) insures your belongings against loss, damage and theft from when you step out the front door.
You can usually choose an amount of cover. This would be the total value of all of the items that you would take with you at any one time.
You’ll then usually need to list (or ‘specify’) any individual items worth more than a certain amount, such as £1,000 or £1,500.
Personal Possessions cover usually extends across the UK. It can also include up to 60 days abroad in any one policy year.
What are Personal Possessions?
- Mobile phones
- Wallets and purses (usually including cover for cash up to, for example, £500)
- Laptops, tablets, ‘iPads’
What to look our for with Personal Possessions cover.
Insurers will commonly not cover sporting equipment outside of the home when it’s damaged while you’re using it. Goods left in plain view in a locked vehicle may be excluded from cover. Also there is no cover for wear and tear through everyday use.
If you are claiming for theft or cash or belongings, it is worth noting that you will need to report the incident to the police.
Usually an Excess will also be payable, according to your policy terms. As a Property Insurance Broker we can provide full information regarding this.
- Keep valuables in your possession – for an item to be covered, it must be in the personal care or control of you, or someone who lives with you.
- Don’t take valuables with you on holiday – if you do need to take valuables with you, it’s a good idea to lock them in a hotel room safe or keep them on your person.
- Protect items left in an unattended motor vehicle – lock your doors, roll up the windows, and hide possessions in either the glove compartment or boot. Often items can only be claimed for if you do this.
- Keep liquids away from your mobile – your mobile will probably not be covered in the case of liquid damage, so it’s a good idea to place drinks far, far away from your phone and take the phone out of your pocket when using the toilet!
- Choose the right amount of cover – the sum insured that you need will be the maximum value of items that you have with you at any one time.
If you’re unsure about the cover that you need it can may help to speak to an experienced Property Insurance Broker.
We are Experienced Property Insurance Brokers
Call us for a no-obligation quote and review, we can help you ensure you’re correctly protected as well as identify areas for potential premium savings.
Evans Insurance Brokers – Property Insurance Brokers in Essex.