If you empty your handbag or backpack right now, you might be surprised by how many items you carry around with you every day. Keys, glasses, wallet – all the necessities are with you 24/7! Or perhaps it’s something more sentimental that you always wear on your person, such as a watch or a piece of jewellery. Either way, whether your favourite or oft-used items are decorative or practical, there’s no doubt that such possessions are of great value to you.
If you’re confused about the difference between personal effects/valuables insurance and regular old contents insurance, the distinction is simple. Personal effects/valuables insurance gives you the option to insure certain items you might take out of the house on a regular basis that your contents insurance may not specifically cover, such as your handbag, camera, or even your bicycle. In this way, personal effects/valuables insurance is particularly useful, as, depending on the policy, you could insure your most prized personal possessions against accidental damage, theft or loss.
When you’re hauling around a bunch of your belongings, it’s much easier for them to become lost or get damaged than if they were sitting safely at home. Depending on what policy you choose, personal effects insurance could provide a financial safety net for these items, by reimbursing you or by replacing them in the event of theft or damage.
At comparethemarket.com.au, it’s a simple matter to compare features from a number of Australian insurance policies and find the right cover to protect your possessions.
Use the handy links below to browse and find out more about home and contents insurance.
Just as you’d compare car insurance to see which policies offer which optional extras, you should do the same for home and contents insurance. As we’ve talked about above, portable contents insurance is an optional extra, so you may find that not all policies offer it.
If you’d like to review policies that offer portable contents insurance, or any other features and extras, check out our simple comparison service.