Personal Valuables – Specified Items
What policy covers Personal Valuables – Specified Items?
Regardless of your level of cover, this particular coverage is optional. But, you can lodge a claim for it, even if a specified insured event hasn’t occurred. Remember that an excess of $100 applies, not the standard contents excess, each time you make a claim.
Given that this coverage is for specified items, what’s covered is entirely up to you. The specified item will be covered for accidental loss or damage at or away from the insured address during the period of insurance anywhere in Australia or New Zealand. Jewellery and watches only are covered anywhere in the world for up to 30 consecutive days, but only while being worn by you or while in a secure safe.
So research the value to ensure that you aren’t underinsured!
You must give us the full description and replacement value for each item you want us to insure. If you have this optional cover, the items covered are those individually listed on your certificate of insurance.
Limit: The most we will pay you, should your claim be approved, is the item’s sum insured as shown on your certificate of insurance.
What’s not covered
There are a few circumstances and situations where this policy will not cover loss or damage. These include that there is no cover for loss or damage to personal valuables that are used primarily for a business purpose, to drones, or to cash or smart cards – to name a few.
You can read the exclusions and conditions under this policy in the Product Disclosure Statement.