by Melanie May | March 2023
Many of you may be familiar with that heart-sinking feeling when you realise that your mobile phone is no longer in your pocket, you left your wallet in the taxi, or your child accidentally dropped and smashed the iPad in a cafe.
Apart from the inconvenience and annoyance of being without your much-needed possessions, there is also the expense of replacing them - phones and tablets are costly.
But wait, you think... won't my home contents insurance cover the loss? Well, that depends on the home insurance cover you have taken out.
Are my belongings covered outside my home?
Most home and contents insurance doesn't automatically protect your items once they are outside of your home. However, at Allianz, you can take out an optional cover under your home insurance policy which covers your personal effects outside your home
Allianz ‘All Risks‘ cover
All Risks cover protects your personal possessions against loss, accidental damage or theft when they are away from your home - this is why this type of cover is sometimes known as 'contents away from the home'.
When you take out an Allianz home insurance policy, you can take out an additional ‘All Risks’ cover. This cover protects your valuables when you take them outside your home and if they are lost, damaged or stolen from your securely locked car*. It also covers your belongings for up to 60 days if you take them abroad - ideal for avid travellers.
‘All Risks’ cover extends to sports equipment, bicycles and personal money — as specified in your insurance schedule.
For example, if your sports bag with your gym gear, tennis racket and smartwatch is stolen from your locked vehicle*, your items are covered if you have ‘All Risks Personal Possessions Cover’. Handy, right? No need for extra insurance.
For full details of covers, exclusions, terms, conditions and limitations, please refer to the Household Policy document.
There are two types of ‘All Risks’ Cover that you can select.
*All windows, including the sunroof, and doors must be securely locked and the property completely concealed within a closed compartment or locked boot.
Specified All Risks Cover
Specified All Risks Cover allows you to list individual items on your policy and set their value. These items typically include jewellery, hearing aids, bicycles, cameras and other valuables.
Unspecified All Risks Cover
You can choose Unspecified All Risks Cover if you don't want to list your items individually. This option is ideal for things like glasses, mobile phones, handbags, etc., as you select a total amount (€2,000-€12,000) of cover for your personal effects for the year.
Certain limits apply to Unspecified All Risks cover, including; up to €2,000 for any one item, bicycles up to €500, and personal money up to €765.
How much Unspecified All Risks Cover should I choose?
When choosing the amount of cover, consider the personal effects you usually carry. For example, when you leave your home, if you only ever take your watch worth €500, your iPad worth €1,000, and your phone worth €1,000, then consider selecting an insured sum of €3,000. This amount will cover additional items like glasses, hearing aids, clothes, and wallets/purses, including any cash.
What are personal effects?
In insurance terms, 'personal effects' are the items you frequently wear or carry outside the home.
Examples of Personal Effects covered under Allianz Home Insurance include, but aren't limited to:
• Clothes
• Wallets/purses
• Handbags (including its contents, e.g. makeup, perfume, but excluding documents)
• Jewellery (including smartwatches like Fitbit)
• Mobile phones
• MP3 players (e.g. iPod, portable speakers)
• Headphones (e.g. AirPods, Beats)
• Laptops (including tablets, e.g. iPad, Kindle)
Click here to learn more about Allianz Personal Effects.
How do I know when I should Specify an item?
Specified risk cover is a personal choice by the customer and may be chosen for items that are of higher value that might regularly be taken outside of the home, or they have a higher potential to accidentally lose. An example could be an engagement ring, or a high-value bicycle. Unspecified all risk is a blanket cover which would have a limit for €500 for bicycles and €2,000 for other personal effects, so if there were items of higher value specified cover may be a better option here.
How can I get a quote for Personal Possessions Cover?
We've made this part super quick and easy to add when you a quote from us. For the best price, get an Allianz home insurance quote online and save 10% on a new policy.
Allianz p.l.c. is regulated by the Central Bank of Ireland. Standard acceptance criteria and policy conditions apply.
Information correct as of date of publishing. This blog will not be updated or edited so the information may become outdated.
