The 1 fact about portable possessions insurance you didn’t know
People be spending in December. And then people be spending again in January (January sales, yo). No, really, it’s a thing that happens every year. People buy the stuff that they want for their holidays, items they planned to buy specifically at the end of year (because of year-end bonuses or year-long savings) and of course, they buy gifts for their loved 1s. Usually it’s stuff that has some proper financial value, like a new tablet for school, laptop for university studies, or earbuds for your special holiday-alone-time. The list of what and where the whats will go is simply endless. The only thing you know for certain is that these items will go out and about with you, whether it’s to school or work and back, visiting family in a different province, going on a romantic getaway, or heading out on a business trip.
And the last thing you want is for your new possessions to get lost or stolen. Unfortunately, these things happen. That’s why portable possessions insurance is often encouraged. It’s not a hugely expensive insurance product, but still… Many of us forget or turn a blind eye to this product, even though we travel with our expensive goodies a fair amount.
Here’s some important info on portable possessions that you might not have known. Hopefully by the end of it, you’ll be interested in checking out how much cover for your laptop, cellphone, handbag, sunglasses, and other items will cost and get some protection so that you don’t have to pay the price right out of your own pocket when something ends up going awry.
Portable possessions insurance is worldwide
It’s generally true for South African insurers that your portable possessions cover will extend to wherever you are. Of course, you need to check this out with your insurer… But most of them will do that. This means that if you’re going to the North Pole to find Santa, exploring Greece, or heading down the road, your stuff should be covered.
You don’t have to get extra cover from some random insurance company just before your trip, although if you’re not convinced then we do suggest that you call your insurer and check with them.
Misplaced possessions in a foreign country
Yes, if you lose your luggage or your possessions have vanished while you’re in Moscow or Zimbabwe, then your stuff is covered by portable possessions insurance. You just need to report it to the relevant authorities in that country and then log your claim with your insurer within 30 days of the incident. Again, this applies to most insurers, so just check with yours. If they don’t offer this kind of cover, you may want to think about getting insurance from a company whose policy does go the extra mile.
But you do need to specify your expensive stuff
Some valuables (normally worth less than R3,500) don’t need to be explicitly stated. Other stuff, like an expensive designer dress, fancy watch, or the latest Apple laptop should be specified. And when we say ‘specify’, we mean that you need to tell your insurer about these items and insure them by name for the correct replacement value on your policy. You might also need to keep the receipts for these items (good to know in January, when all the holiday purchases were recently made and receipts are easy to track down).
This ensures that your possessions are under the correct cover (and for the correct amount).
So, if you travel a lot and your portable possessions aren’t insured yet, get a quick and super cheap online quote today from an insurer who offers cover that’s good-to-go wherever life takes you.