If you just rely on basic home contents insurance, you’ll ONLY get cover for your possessions if stolen or damaged at home. Once you take them out of the home anywhere in the UK (and up to 60 days overseas), you’ll need an add-on – called ‘all risks or personal possessions’ cover – if you want it protected for theft, loss or damage.
This would cover gadgets, bikes, jewellery and more outside your home. Depending on the gadget and any other valuables you might typically want to include, this can cost between £12 and £50 a year extra.
It can be a valuable add-on: for example, students at university (who are still registered on the electoral roll at their parents’ home) are covered if their tablet or laptop is stolen while out and about. See 60 MoneySaving student tips for more.
The greater the value of ‘personal possessions’ you take out of the home and wish to insure, the more you pay. Before just lumping this onto your policy, check the price of getting a new policy altogether via our home insurance cost-cutting system, as you may find it’s cheaper.
You can then get a pro-rate refund on your existing policy but factor in typical £50 cancellation fees. A few policies include this extra cover as standard, so check.