Are my personal effects already covered with my home insurance?
That depends on what the policy states. Home insurance policies don’t usually automatically include cover for taking your personal belongings outside of home as standard. It could be worth investing in additional personal possessions cover if you want cover for items you carry with you outside your home – this can usually be bolted on as an optional extra.
Typically, personal possessions cover will cover you if your insured belongings are stolen, lost or damaged. Policy limits are usually agreed with the insurance provider when the policy is taken out – limits vary from £2,000 up to £10,000 . How much the extra cover costs will depend on a number of factors.
If you’re someone that carries around a lot of expensive equipment (even without realising) such as a laptop, smartphone and even glasses, then taking out personal possessions cover can give real peace of mind. You may also need to add expensive items to the policy individually should they exceed a certain value set by your insurance provider. Insurance providers can ask for items to be individually specified on a policy which are worth £1,000 upwards, don’t worry, your provider will let you know what this limit is when you get a quote.
Like with personal effects cover under your car insurance, there are often exclusions as to what’s covered with standalone policies or home insurance add-ons. Items such as mobile phones, money, credit cards and sports equipment may or may not be covered depending on the insurance provider .