Portable contents insurance

Why should I get portable contents insurance?

Portable contents cover is usually available as an optional extra under your home and contents insurance policy, or your contents only insurance policy. It allows you to cover items that are regularly taken outside of the house which aren't normally covered while you're away from home. This could include things like your laptop, a bicycle, an engagement ring, an expensive watch or even a designer handbag.

What are the types of cover available?

There are 2 types of portable contents insurance: unspecified portable contents insurance and specified portable contents insurance.

• Unspecified portable contents insurance covers a wide range of possessions away from home, including handbags, clothing and glasses. Rather than purchasing cover for specific items, this type of insurance allows you to select a general individual item limit and a total claim limit that suits you.
• Specified portable contents insurance allows you to select specific portable items and insure them for an agreed amount, making it a good choice if you have any high-value items that you want to cover away from home. For example, you might want to insure your new laptop for $2,000, so you would specify this when taking out cover.

What items are covered?

While the exact list of items covered may vary between insurers, portable contents insurance will generally offer cover for the following items:

What events are covered?

Portable contents insurance covers accidental loss or damage to your personal valuables anywhere in Australia. Depending on the insurer, you can also typically enjoy cover for accidental loss or damage anywhere in the world. However, there will usually be a time limit on the amount of overseas cover available in any one insured period, with this limit usually set at 35 days. This is different between all insurers though so be sure to read the product disclosure statement before you jet off with your valuables.

What are the exclusions?

There are certain situations and events in which portable contents insurance will not provide cover. Often, portable contents insurance will not cover the following:

• Wear and tear or the gradual deterioration of your goods
• Theft of or damage to possessions that are left unattended in a public place
• Tools
• Any possessions related to your business or trade
• Domestic pets
• Camping equipment
• Items left in an unlocked vehicle or in plain sight in a locked vehicle

What’s the difference between contents insurance and portable contents insurance?

What does contents insurance cover that portable contents insurance doesn’t and vice versa? Check out the key differences in the table below, but remember that not all policies are created equal, so be sure to read the fine print.

What's covered?

What does “general portable contents” mean?

If your insurer refers to something known as general portable contents cover, this means the same thing as unspecified portable contents cover. In other words, rather than requiring you to specify the items that you would like covered and the limit to which they are covered, general portable contents insurance offers blanket coverage for a wide range of unspecified items.

Instead of insuring specific items up to a specific limit, you will instead be able to decide on the umbrella limit that applies to all of your portable contents. A maximum limit will also apply to the amount you can claim on any one individual item.

Which items do I need to specify in my policy?

Specified portable contents insurance is usually required to protect high-risk and high-value items. For example, your laptop is seen as high-value and high-risk because you regularly take it out and about with you. They can be easily lost and they're also a common target for thieves.

Other high-value, high-risk items could include things like engagement rings and digital cameras. Because the value of these items will usually exceed the individual item limit on unspecified portable contents insurance, you'll need to specify these items and their value when applying for cover.

FAQs

• What is portable possessions insurance?

  This is the same as portable contents insurance. It refers to insurance on items that regularly go with you outside of the house, like an engagement ring or a digital camera.

• Can I claim my phone on contents insurance?

  Unless it was stolen or damaged during another claimable event, like during a robbery, then no. In recent years, insurers have moved away from covering mobile phones in their contents and portable contents insurance policies.

To make sure you get accurate and helpful information, this guide has been edited by Tim Bennett as part of our fact-checking process.

Written by

Gary Ross Hunter

Journalist

Gary Ross Hunter has over 6 years of expertise writing about insurance, including life, health, home, and car insurance. Having reviewed hundreds of product disclosure statements and published over 800 articles, he loves simplifying complex insurance topics for everyday readers. Gary has contributed to major outlets like Yahoo Finance, The Sydney Morning Herald, and news.com.au, and holds a Bachelor of Arts (Honours) in English Literature from the University of Glasgow, along with a Tier 2 General Advice certification, ensuring his work adheres to ASIC’s RG146 standards. See full bio

Gary Ross's expertise

Gary Ross has written 580 Finder guides across topics including:

• Health, home, life, car, pet and travel insurance
• Managing the cost of living

Co-written by

Peta Taylor

Publisher of Insurance

Peta Taylor is a publisher at Finder, working across all of insurance. She's been analysing product disclosure statements and publishing articles for over 2 years. Peta is passionate about demystifying complex insurance products to help users make well educated decisions with confidence. Peta is part of Finder's insurance awards team and works alongside editorial and insights experts to bring users the best insurance products every year. See full bio