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We've all been there. That heart-sinking moment when you realise your wallet is no longer in your pocket, or your daughter says she's left her mobile on the train.
Apart from the nuisance factor of being without these items, there's the cost of replacing them too. But it's okay. You can claim on your home insurance...right?
Not necessarily. Like the name says, 'home' insurance covers you for theft and damage to things in your home. Many people mistakenly think that the personal possessions they take with them away from the home have personal possessions insurance. Cover away from the home can be provided as an additional extra.
Not necessarily. Like the name says, 'home' insurance covers you for theft and damage to things in your home. Many people mistakenly think that the personal possessions they take with them away from the home have personal possessions insurance. Cover away from the home can be provided as an additional extra.
Personal belongings insurance
Why do I need cover away from home?
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.
What does cover away from home include?
LV= optional extended personal belongings insurance 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.
You get:
- Cover for mobile phones, cameras, jewellery, watches, laptops and sports equipment
- Insurance for items that you carry with you worldwide
- Protection up to £500 if your cash and credit cards get lost or stolen
Are any of my personal possessions insured when they're not with me?
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.
What about cover for university students?
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.