What is Personal Effects Insurance?

It’s comforting to know that home contents insurance protects our valuables from theft or accidental damage inside the home. But if you take your camcorder or digital camera to the football or a barbecue this winter, you might find they are not covered if they are lost, damaged or stolen.

The fact is home contents insurance generally covers your precious possessions only in specified locations or circumstances. As a result, valuables like cameras, musical equipment, jewellery, watches and sunglasses may need additional cover to ensure they are fully protected outside the home.

So if you’re someone who gets out and about on weekends and you want to protect your valuables at all times, it might make sense to consider including Personal Effects cover under your existing home contents policy.

Commonly there are two types of Personal Effects cover – Specified and Unspecified – and your personal situation will determine the best type for you.

With Specified Personal Effects cover you can insure high value items that are special to you – like an engagement or wedding ring – and protect them individually for an agreed sum.

If you have a number of valuables that you wish to cover without specifying them – maybe a musical instrument, personal organiser or photographic equipment – you can select Unspecified Personal Effects cover. This provides protection for a broad range of personal items, subject to agreed limits for each item and in total for any one claim.

When you consider what it would cost to replace your most valuable possessions individually, Personal Effects cover really does provide peace of mind for not much extra cost?

Talk to your insurance provider for more information. To find out more about the insurance we can offer, please visit our website.

^Derek – Insurance Manager