Warning Over Home Insurance and Expensive Gifts

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Have you been tempted to have a splurge in the sales recently?NEWS

The challenging retail climate means that bargains are to be had in the shops and online at any time of the year rather than just in January and at the end of the summer. However, both retail and insurance industry experts are warning bargain hunters to make sure their purchases are properly insured.

High Ticket Items

Often when we go shopping in the sales, we take the opportunity to make significant savings on those high ticket items we have been saving up for such as laptops, tablets, digital cameras or jewellery. Some home contents insurance policies will have a limit on cover for single items, and often items valued at over £750 have to be declared separately when you take out a policy. If the worst happens and you are burgled, you may find you’re not covered for that brand new top of the range laptop or the expensive pair of earrings you have treated yourself to.

What Can I Do About It?

The key piece of advice is to read your policy documents and work out what you are covered for. All policies are different and will have different limits on their items of value, so you need to check every year when you renew your policy that the cover has not changed. If you do treat yourself to an expensive new 3D television or designer watch, pick up the phone and tell your insurer about your purchase – they will either include it on your existing policy at no extra cost, or ask you to pay a small fee to have it added.

So don’t automatically assume that all of your sale and internet bargains are covered by your insurance, or they could end up costing you far more in the long run.

Policy Expert          

We’re dedicated customer service team is always on hand to help – either online or over the phone. Whether you want assistance in finding the right policy or even handling a claim, we make sure it’s all handled by experts. For more information speak to one of our experts on 0203 014 9300 or email ask@policyexpert.co.uk

The views expressed here are solely those of the author and do not necessarily reflect the views of Policy Expert.