The deal with portable possessions insurance

Portable possessions insurance is 1 of the weirder-named insurance products available. It’s also sometimes referred to as ‘all risk insurance’, although to be honest, that’s not much better. You’d think that by now they would have come up with something better for the policy that covers the things that you carry around with you on a day-to-day basis… Like, ‘if-it-comes-with-you-insure-it insurance’ or ‘bits and bobs insurance’. Or something like that.

Until that day comes, we’re stuck with portables possessions. This is how you’ll see insurance companies advertising this policy so that you can cover your laptop, smartphone, tablet, expensive sunglasses, and other precious items that you have on you at any given time.

Aside from the name, there are other funny little things that you need to know about this type of insurance. This way, if you decide to take out a policy, you’ll truly benefit if you ever have to claim. Which we really hope won’t ever be the case… But it’s always better to be prepared.

What portable possessions actually does

Generally, you’ll be covered for the loss, damage or theft of all your gadgets, gizmos and toys that you can’t leave the house without. The key to remember is that if it’s a portable item that regularly leaves the house with you, then it needs its own insurance.

You might be thinking that your household insurance is enough. Unfortunately, it’s not. Home contents insurance won’t cover your handbag if it’s stolen from you while you were walking across the street.

It’s your duty to be specific

Most insurers, like King Price, offer portable possessions insurance that has 2 types of cover built into it. The first type that you get is the ‘unspecified’ cover, which insures lots of different items that you wear or carry with you. These kinds of items are too numerous to list, so they’re lumped together under an overall limit.

Now, if there are any items that are more expensive than this limit, it’s your duty to specify them with the insurer. With King Price, you’ll specify each item which will then show up separately on your insurance schedule and will be allocated a separate monthly premium.

Usually, you’ll have to specify these items:

• Electronic and computer equipment, like your laptop and smartphone.
• Jewellery and watches.
• Photographic equipment.
• Bicycles.
• Contact lenses and prescription glasses.
• Cellphones.
• Hearing aids.

There’s even R1 insurance available

If you’re worried about the cost, you’ll love the fact that you could pay as little as R1 to cover some of your more expensive bits and bobs (see? It totally works as a name!) from King Price. If you take out comprehensive insurance for your car, you can add R1 insurance for things like your hearing aid, bicycle, and Apple Watch. And don’t forget that your car premium will decrease every month to keep up with the fact that your car’s value reduces.

It’s their idea of offering logical insurance that’s fair and affordable. If you want King Price’s royal touch in your life today, then just click here to get a quote or call 0860 50 50 50.