Are your belongings properly covered?

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With Easter coming up, followed by an extra long Bank Holiday weekend courtesy of the Royal wedding, many of us are busy planning an extended get-away using minimal annual leave. However, how many of us have given the same thought to our travel insurance policies?

With many of us taking more and more expensive gadgets away with us, appropriate cover for our personal possessions is more important than ever.

A cursory glance at the policy may lead you to believe that you are well covered; indeed over 80% of policies now offer cover of up to £1,000. However, a more careful look through the small print will reveal that only 11% offer cover of over £350 for a single item and only 14% offer £500 or more in terms of cover for 'valuables'. The precise definition of the word 'valuables' varies from policy to policy but can include iPods, mobile phones, jewellery, cameras and camcorders.

With so many price comparison websites available nowadays, it is relatively easy to find a good deal in terms of price but it can also be pretty confusing trying to compare like for like. Everyone’s requirements are different and no-one likes having to pay for levels of cover which are far too high for their needs. On the other hand no-one wants to be caught out, discovering too late that that Rolex or fancy phone is only covered up to a couple of hundred pounds.

This is where financial research company Defaqto can help. They have introduced a new Star Ratings system designed to help people see at a glance what they are buying and how comprehensive a policy is. For more details have a look at their website.


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