Personal Possessions Cover

04 June 2010

Your mobile phone, laptop, bikes and jewellery may be covered by your home contents policy while they are safely inside your home, but what happens if these personal items are damaged or stolen outside of your home? Advances in technology have made our electronic items smaller and more portable, and as a result we carry more valuable items with us when we’re out and about than ever before. This is where personal possessions cover comes in. We take a look at what personal possessions insurance covers and how you can keep your personal possessions cover costs to a minimum.

While most of us have home contents insurance to insure our personal possessions within the home, personal possessions cover is different. Personal possessions cover covers the cost of valuable personal possessions that we take with us outside of the home. We take a look at just what personal possessions insurance can cover and at ways to reduce the cost of your personal possessions cover.

Personal possessions cover covers a range of personal items from bikes to laptops, mobile phones to credit cards. You will usually be covered for theft, loss or damage to your items whether you are on your daily commute, out shopping, and even while you are on a foreign holiday. You can choose between two main types of personal possessions cover – unspecified personal possessions cover and specified personal possessions cover.

Unspecified personal possessions cover

This is a blanket kind of cover that usually insures a whole range of valuables carried or worn outside the home, usually with a value of up to around £2000 per item. This can include laptops, MP3 players and portable stereos, iPods, iPads, mobile phones, smartphones, jewellery, cameras, bikes, sports equipment, and even clothing.

Unspecified personal possessions cover also usually covers a certain amount of spending money. So if you have a sum of money in your wallet that is subsequently stolen, your personal possessions cover will cover this. This type of personal possessions cover also usually includes some form of credit card insurance that covers you for fraudulent charges made with your card, up to a certain amount.

Specified personal possessions cover

This is a type of personal possessions cover that covers items that are not covered as part of standard personal possessions cover. This means that you can obtain cover for specialised items or equipment when you are carrying these items with you outside of the home.

As most unspecified personal possessions cover policies typically provide a level of cover for items up to a value of £2000, if you wish to insure a personal possession for more than this standard amount, then you may have to take out specified personal possessions cover in order to obtain cover for it.

As most of your personal possessions will be covered as standard by your home contents insurance policy whilst they are inside the home, it is often home insurance providers who offer personal possessions cover as an add-on to their home insurance policies.

When searching for personal possessions cover, you should talk to your existing home contents insurer to see if they offer their own personal possessions cover product. If so, you may be able to combine this with your existing contents cover at a cheaper rate than purchasing separate personal possessions cover from a separate insurer.

You can use the internet to search for personal possessions cover more easily. Comparison sites have made it easier than ever to seek out the best personal possessions cover deals, and save you a lot of time too. However, not all insurers are included as standard in comparison site searches, so you should visit insurers’ own websites too as part of your personal possessions cover search, to make sure you are not missing out on any great deals.

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