A simples guide

Possessions Insurance Cover Outside of the Home

When we take out home insurance, there is an option to have accidental damage cover on the policy to cover our personal belongings for damage, theft or loss while in the home. However, we live very mobile lives and our increasingly valuable possessions tend to travel with us.

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Portable possessions insurance

Smart phones, tablets, laptops often travel with us a lot. Add to that, jewellery, glasses, wallets, watches, coats and you’ll soon work out that a number of our most expensive items often spend a lot of their lives with us, on the move.

If you’ve simply assumed that your possessions are covered in the event that you lose them or have them stolen while you’re away from home, you could be in for a nasty surprise.

Most home insurance policies don’t automatically cover you for incidents outside the home.

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So how do I protect my items on the move?

When you take out your home insurance, you should first check the policy wordings to find out what is and what isn’t covered.

Assuming you’re not covered automatically, you can request ‘Personal Possessions’ or ‘Personal Belongings’ cover.

Will that cover me for everything I take with me?

It will certainly cover you for most things that we’d think of as our personal belongings such as:

- Phones
- Watches
- Jewellery
- Laptops
- Wallets and purses
- Sports equipment
- Clothing
- Musical instruments
- Cameras

Insurance for possessions

It’s worth noting that policies usually set a limit in value terms for individual items. Items worth more than a certain amount may also need to be listed individually.

Exclusions will often include:

- Camping gear while in use in the open

- Items stolen while on public display in a vehicle, even if it’s locked

- Bicycles not secured

- Business equipment such as a company laptop or tools

- Damage caused by wear and tear

You may find there is a single event limit too. So, if you’re heading for a festival this year check your policy to make sure you’ve sufficient cover for all your gear.

As policies can often be different from one insurer to another, make sure you read the policy documentation to ensure you have the cover that you think you do.

Will it cost more?

Yes, you will pay an additional premium for personal belongings cover. However, not only will you gain valuable protection, but also some peace of mind when you’re out and about.

Anything else to consider?

A few things yes. Before you rush out to cover your possessions, make sure:

-          You’re not doubling up on cover. Personal possessions cover is great for day to day cover but if you’re only looking to cover a specific trip, have you already got travel insurance that covers you?

-          You check that your cover protects you overseas if you’re heading abroad.

For many people personal possessions or belongings cover could offer valuable additional protection. Before you take out any home contents insurance cover, compare prices and policy cover right here with us.

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