These items include things like:
- Jewellery;
- Cell phones;
- Tablets/iPads;
- AirPods;
- Laptops;
- Bicycles;
- Bluetooth speakers;
- Watches;
- Golf clubs; and
- Cameras/camera equipment.
Why do I need to specify/add extra cover for portable items?
Although most content insurance policies will only cover your things while they are at home, many of your portable items rarely stay just at home, leading to increased risk on these items.
Whether you’re popping to the shops with your cell phone or heading out on your mountain bike, these items will need extra cover when they leave your home. Why? Because there’s a higher risk of these things being stolen, damaged, or accidentally lost while they’re not in the safety of your home. To make sure that your portable items are covered wherever you go, you need to explicitly tell your insurer about each of them.
How much should I insure my portable items for?
Always insure your portables for their replacement value – what it would cost to replace them new today. The reason for this is that if you claim, the insurer will give you a new, out-of-the-box replacement, which might cost more today than it did when you originally bought it. If your current model does not exist anymore, find the next model up and insure it for that value.
How often should I update my portable item’s insured value?
It is best to review the insured value of your portables at least once a year to make sure it sufficiently covers the cost of replacing your items with brand-new ones.