So, while you’ve been bored during the lockdown, maybe you’ve bought two or three or a dozen new possessions online — just like the rest of the country. That’s fine — but have you checked whether they’re covered by your home insurance policy?
It’s essential to make sure both your home and its contents are insured for the right amount. If you make an insurance claim for a figure that’s less than the true value of the items, at best you’ll get less than you should, since the insurer will use the Average Clause to calculate the pay-out. At worst, the loss adjuster may refuse your claim altogether.
At the same time, there’s a risk that your total cover won’t be enough for your possessions. If you’ve bought a new bike in the lockdown, for instance, or upgraded your home tech, will your policy be sufficient? It’s advisable to check with your insurance company before it comes to making a claim.
What’s Covered and What’s Not?
It’s easy to get complacent and assume that everything’s covered under your home insurance, only to find you’re wrong when you’ve made an insurance claim and it’s too late. Here are some vital things to remember:
- Check your policy’s single item limit — the maximum the insurer will pay out for an item not named in the policy, which will typically be between £1,000 and £2,000. If you’ve recently bought something worth more than £1,000, therefore, it’s important to find out whether it exceeds the limit, and if necessary add it as a named item.
- Don’t assume your policy will cover items in your garden, such as hot tubs, paddling pools, trampolines, garden furniture, ornaments or barbecues. Some insurers cover theft or damage to garden contents as standard, but others don’t, so make sure the loss adjuster isn’t going to turn down your claim.
- Are you covered for accidental damage? This is especially important now, when we’re spending more time at home and often taking up DIY, exercising or other activities that could result in damage. Your policy may include cover for accidental damage in the home or garden, but if not that can be added for an additional premium.
So enjoy your lockdown purchases, but make sure you don’t leave yourself underinsured — or even uninsured. Because not even Allied Claims can get you what you were expecting then.