What is personal possessions insurance?
Personal possessions insurance covers your belongings against accidental loss or damage when you’re out and about.
This typically includes:
Phones
Watches
Jewellery
Laptops and tablets
Wallets, purses and handbags
Cash, up to a set limit
Sports equipment
Clothing
Musical instruments
Cameras
Check the policy to see exactly what is and isn’t covered.
Personal possessions cover is usually available as an optional extra to your home contents insurance, for an additional cost.
What isn’t covered by personal possessions insurance?
Not everything you take out of the home will be covered by personal possessions insurance. Common exclusions include:
Damage to camping gear while it’s being used outdoors
Damage to sporting equipment when it’s being used
Items stolen while on public display in a vehicle – even if it’s locked
Possessions left unattended in public places. For example, if you leave your mobile phone on the bar in a pub
Bicycles, which may have to be added separately to a home insurance policy
Business equipment, like company laptops or tools
Damage caused by wear and tear.
It’s also worth noting that not all personal possessions policies cover gadgets and electronic devices. You may need separate gadget insurance for these.
How much cover do I need for my personal possessions?
To work out how much personal possessions insurance you need, add up the value of the items you want to protect.
For example, if you regularly leave home with a ring worth £1,000, a £200 bag, a phone worth £500 and a £300 coat, you’ll need to take out a personal possessions policy with cover for at least £2,000.
Can you insure individual items with personal contents insurance?
It depends how much the individual items are worth. Insurance providers usually set a single-item limit for valuables listed on a home contents insurance policy. This is the maximum that you can claim for any one item.
For example, if your watch is worth £2,000 and your single article limit is £1,500, your watch won’t be insured for its full value.
If you have items that are worth more than the single-item limit, you’ll need to list them separately on your contents insurance and say you want them covered outside of the home.
What should I consider when arranging personal belongings insurance?
Some things to bear in mind when looking for insurance for personal items:
Avoid accidentally doubling up. Check you don’t already have cover for items like your phone or laptop. There’s no benefit to having items covered by more than one policy, as you won’t be able to claim twice.
Will your belongings be covered abroad? Not all personal possessions policies will cover items abroad, so check before you buy.
Check any items you want to protect aren’t excluded from your policy. For example, bikes or mobile phones.
Check the policy’s single-article limit. You might have to pay a little extra to protect particularly valuable items.
Consider your excess. Although you can usually reduce the cost of your insurance by agreeing to a higher excess, make sure the excess won’t cost more than replacing the item yourself.
Did you know?
1,418 luxury watches were stolen in 2022, with Rolex the prime target for opportunistic thieves. And mobile phone thefts totalled almost 89,000 during the same year – in the London area alone.
How do I get a good deal on personal possessions insurance?
If you compare contents insurance with us, you can check the cost of adding on cover for your personal possessions when you’re away from home.
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FAQs
If my possessions are with someone else, are they still covered?
No, not always. Check your policy to see if your provider offers cover for situations including:
Lending a valuable item, like a laptop or piece of jewellery, to a friend or family member
Sending personal belongings for repair
Temporarily storing items somewhere other than your home
Moving house and having items stored and transported by a removal company.
Will my personal belongings be covered when I’m abroad?
Not necessarily. Some policies cover your belongings when you take them abroad, but others only cover them when you’re in the UK.
If you are covered abroad, there are often limits to how long you’re covered for. Plus, your policy may only offer cover in Europe, for example. Check the policy wording for details.
If you’re travelling for longer, or further afield, you may need additional cover for your belongings under a separate travel insurance policy.
When you’re comparing travel insurance policies, check how much cover is provided for personal belongings and how much excess you’ll have to pay if you make a claim.
Can I buy standalone personal possessions insurance?
It might be possible to find standalone personal possessions cover – also called ‘away from home’ cover. But, typically, it’s available as an add-on to your home contents insurance.
Are other family members covered by my personal possessions insurance?
If you have personal possessions insurance, any family member who lives with you on a permanent basis will typically be covered. Just be aware that there may be cover limitations for under-16s.
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