We tell you what we want, what we really, really want … covered
9th November 2011
In an independent survey of a thousand women, insurance broker Hastings Direct asked which possessions the ladies really wanted to protect.
The top ten items they really want to cover are:
- Mobile Phone
- Glasses and contact lenses
- Collective jewellery like the Pandora style charm bracelets
- iPod/MP3 player
- Designer clothes
- Designer shoes
- ebook / Kindle
- Make Up/Perfume
Whilst over three quarters of the women thought insurance was a positive thing — especially the third who believed it was a great way to protect the things they worked hard for — one in five women see it as a necessary evil and nearly a third (31%) were frustrated by insurance jargon, or small print that was too hard to understand.
Mark Sheppard, head of home insurance, Hastings Direct: "Some of the survey results show we need to do more to explain the real benefits of good quality insurance. For example, a Hastings Direct average premium can cost as little as £53 to protect £30,000 of possessions for a year.
"A good home contents insurance policy will cover all of the top ten items women value and want to protect against loss or theft and if they opted for accidental damage, they would protect themselves against most eventualities. There are five simple questions anyone can ask to check their insurance is offering the right protection."
- Is cover for mobile phones included?– Possessions covered away from home will include a mobile phone — but check your cover limits — some policies will not cover phones worth in excess of £300 and some may not cover the content on the phone.
- Does the policy pay out new for old?– This will cover you for the current market value of an item which is lost or stolen, not the original purchase price. However, wear and tear will be taken into consideration for your clothing.
- What is your policy excess?– Many people do not claim because their excess is higher than the value of the item lost. You can request a lower excess, but generally this will mean you pay slightly more for the premium — which is more important to you?
- Do you have the right limit?– Contents cover will pay out for single valuable items such as Kindles or iPads for certain types of claim. This is usually 10% of your total contents cover. So, for £30,000 cover, items that are worth in excess of £3,000 will need to be listed separately. In the ladies' most wanted list, they would just need to check if any jewellery or designer wear exceeded their limit. If it did, cover can still be offered, but it needs to be specifically itemised in the policy.
- Can I cover everything away from home?– Protecting your personal possessions away from home is usually an optional extra. Make sure you select it, if you want to protect all your items from loss of theft when out of your home. For example, this is the section that would cover the contents of your handbag — and the bag itself — if stolen.