When you buy home insurance, it's important to choose cover that works for you. But with lots of add-on options, it can be an overwhelming choice.
At AXA, we want to make insurance simpler. So what is personal possessions cover? And what does it cover that your standard contents insurance doesn't? In this article, we'll talk you through it all.
- What is personal possessions insurance?
- What does personal possessions mean and what can I claim for?
- Does personal possessions insurance cover stolen or lost money?
- Can I take out stand-alone personal possessions insurance?
- Is there anything that invalidates my personal possessions cover?
- Is there personal possessions cover for students?
- Personal possessions abroad - do I still need travel insurance?
What is personal possessions insurance?
If you have high-value items you regularly take out and about with you, you'll want to keep them protected. Personal possessions insurance covers valuable belongings like your smartphone, laptop or camera. With it, you'll be insured against theft, loss, or damage whenever you take them out of your home.
You may think personal possessions cover is already part of a standard home insurance policy but this isn't always the case. If your possessions are stolen, damaged or lost inside your home, it's probably covered by your standard policy... but not when these things happen outside your home.
That's how personal possessions insurance can help you. You can keep the contents of your bag covered if something goes wrong when you're out and about.
What does personal possessions mean and what can I claim for?
Personal possessions are items you'd normally wear, use, or carry out of your home. This includes (but isn't limited to):
- Mobile phones
- Tablets
- Laptops
- Cameras or video camera equipment
- Keys
- Jewellery
- Wallets, purses, and handbags
- Sporting equipment
- Musical instruments
Not sure about the level of cover you may need? You'll need to work out how much the items you want to insure are worth in total. For example, if the most you ever regularly take outside your home with you is your £500 phone and £1,000 laptop, you'll need an insured sum of £1,500.
The level of cover offered by every insurer is different. At AXA, you can choose personal possessions cover as an optional upgrade. This gives you a cover value of £1,000 up to £15,000, so you can protect items you own that are worth £1,500 each or less.
Does personal possessions insurance cover stolen or lost money?
Personal possessions cover typically insures your money of loss or theft. AXA's personal possessions insurance covers you for loss, theft or damage of coins, banknotes and cheques. It doesn’t cover credit cards, cheque cards, or cash dispenser cards.
For full details of what you’re covered for, always check your policy details and wording thoroughly.
Can I take out stand-alone personal possessions insurance?
AXA's personal possessions insurance is only available as an add on to a home insurance policy. You can't buy it from AXA as a stand-alone polcy. But depending on your needs, there may be other policies which offer the cover you're looking for.
Is there anything that invalidates my personal possessions cover?
There are a few things that could invalidate your policy. It’s important you know what these are. That way you won’t be surprised if you need to make a claim.
What your cover allows depend on your individual policy details. However, the following things are generally likely to invalidate any claim:
- General wear and tear
- Damage caused by normal and regular use (for example, equipment used for sports or hobbies)
- Thefts from cars or vans if the item was visible from outside (for example, sitting on the seats, floor or dashboard) and the vehicle was left unattended
- Items used for business purposes.
What does ‘reasonable care’ mean, and how does it affect my claim?
Reasonable care is the action of taking proper precautions to prevent theft, loss or damage of your items. If you don’t take reasonable care of your items, it could invalidate your claim.
For example:
- If your purse is stolen from your car, your claim may be invalidated if you left it on your passenger seat. This is because you failed to show reasonable care by storing it out of sight.
- If you lose your phone on the train but didn’t take the care to have it in a zipped coat pocket, this shows a lack of reasonable care to protect the item.
Is there personal possessions cover for students?
Some policies allow students’ belongings, even those at university, to be covered under a parents’ policy. However, this varies by insurer. You’ll need to check policy wordings thoroughly before you take out cover or make a claim.
With AXA, your policy won’t cover a student’s belongings when they’re staying away from home. But we do offer a dedicated student cover add-on that may be better suited to their needs.
With our student cover add-on, laptops, tablets, headphones, smartphones and other valuable items can be covered while studying away from home. This cover only applies while items are in the student’s accommodation - not while they’re out and about. Check out our student cover page for more details
Personal possessions abroad – do I still need travel insurance?
This depends on the insurer. Some will cover you while you’re abroad for a set period, while others won’t. Check your policy wording for more information.
AXA’s personal possessions cover extends to anywhere in the world. So you can rest assured your belongings are still covered even when you’re abroad. Consider using this cover alongside your usual travel insurance to make sure you're getting the best protection you can.
