The cost of replacing items stolen or lost has gone up. In a 2018 Crime Survey for England and Wales 19% people surveyed had items stolen valued between £500 and £999. This is mainly because we're taking more with us when we leave the house.
In addition to the usual money and keys, we're likely to have a mobile phone, a watch, jewellery and maybe a laptop or tablet. These can add up to thousands of pounds. And if the rest of your family are also taking expensive items out of the house each day too, there's a very real possibility of shelling out hundreds of pounds on damaged, lost or stolen items.
So, what's the answer? Apart from making sure you safeguard your possessions when you travel, you can take out insurance that covers your personal belongings when you're away from home.
LV= optional extended personal belongings cover protects items worth up to £2,000 whilst you're out of the home. So, if you lose or break items when you're out and about, it's reassuring to know we'll replace or repair them. And the cover extends to all family members living at your address.
Yes, sometimes they are. For example, as part of LV= standard home insurance, if you take your sofa to be reupholstered and it gets damaged or lost, you may be able to claim up to £5,000 or £10,000 on Home Plus. This also applies to items that are temporarily moved to someone else's home, to a bank or to your place of work.
Plus, as part of our standard home insurance, we'll pay for accidental loss or damage when you move home if you use a professional removal company to transport your possessions.
With students taking thousands of pounds worth of possessions and gadgets with them to university, parents will want to make sure their offspring are insured when they're away. We recommend that parents check their home insurance policy before their children leave for university.
Some home insurance policies, like ours, automatically include cover for students living away from home if items are damaged or stolen in student accommodation.
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