You are having a wonderful day at the beach with loved ones, making the most of a rare blue-sky day. After an awesome swim, you feel invigorated and return to dry off. You look for your wallet and phone that you carefully stowed away at the bottom of your bag. You can't find them! Have they been lost or stolen? Are these items insured? It’s easy to confuse what is covered in your home insurance policy with what is not. That’s why it’s vital to check the details of your policy. You might assume that your personal possessions, such as your wallet, watch, jewellery, and other items, are covered by your home contents policy when you are away from home. But that’s not always the case.
What is personal possessions insurance?
Personal possessions insurance covers precious valuables that you carry with you when you are out of the house and going about your day. So, whether you are commuting to work on the train or enjoying a family day out, the precious things you take with you are covered.
What’s covered?
Pretty much everything you bring with you is covered. From your clothes, keys, jewellery, phones, laptop or tablet, cash, wallets, handbags, purses, camera, and sports equipment to your guitar or any other musical instruments that you may play!
Items that might not be covered
All insurers are different, so check your policy, because certain items may not be covered.
If items get broken while they are being used, they may not be covered. For example, if you break your tent while putting it up on a camping trip or tear the sail on your wind-surfing board due to an accident. Your bikes will also likely not be covered. Some insurers may require you to obtain a separate gadgets policy to cover electronic equipment like your phone or laptop.
Going abroad?
It could be that your home insurance covers you for a certain level of travel abroad, but that may not cover your personal possessions. So, it’s vital that you check with your insurer.
Who is covered?
Typically, everyone in your household is covered by this policy. So that means if a member of your family is out for the day and their wallet or purse becomes lost or stolen, they are covered. But again, always check the terms of your policy.
It’s never too late
Almost anything can be insured. Discuss your needs with your broker to find the right policies. Insurance can save you and your family from devastating levels of expense with affordable premiums. Talking to your broker allows you to get the right policies in the first place, with a true understanding of what you are covered for. This helps prevent confusion and expensive errors. Remember, insurance policies can be adjusted or modified at any time by contacting your insurance provider.
Contact us today to get a quote for all your insurance needs