TV insurance is a type of insurance that covers the cost of damage, loss or repair to your TV if something bad happened. You can get cover for your TV as part of your home insurance which will cover it for things like theft and damage from fire and flood.
You can also add on extra cover for accidental damage in most policies which can come in handy if your TV is your pride and joy.
The standard features of most home and home and contents policies include insurance for your TV, up to a certain value, against various insured events, including theft but not including accidental damage.
Whether you want additional protection for your TV will likely depend on how valuable it is in dollar terms and whether you see accidental damage cover as a must-have.
The key research step is to check out the upper limits that a home and/or contents policy pays for contents. If the value of your TV is higher than the relevant limit, you can look into adding specified (or valuables) contents insurance, which will let you increase the sum insured.
Note that if you don't take out specified contents coverage on a high-value TV, the maximum amount the insurer will pay out will be the one in the general contents policy.
There's also the option of taking out single item insurance on your TV and other valuables.
Some insurers may treat the breakage of glass/ TV screens separately. Double check your product disclosure statement to make sure you understand when you're covered and when you're not.
For TVs, the insured events covered by most home and/or contents policies include water damage, damage from fire or floods, lightning and storm damage, vandalism and theft, plus a host of other scenarios.
This means that if you came home to find a mysteriously missing 50-inch plasma, or if a branch fell and damaged your rooftop antenna in a storm, you could be covered.
As long as they weren't deliberate or obviously foreseeable and preventable, most TV-related accidents will generally fall under the umbrella of "accidental damage".
In other words, if an overexcited dog, a distracted child or vice versa were to knock over and scratch or crack your TV, you'd be okay. But if that TV was leaning unsupported in front of an open third-storey window, you may not be.
For most home insurance policies, accidental damage isn't a standard inclusion. Not to worry though, you just add it to your policy during the application process. If you already have a policy, give your insurer a call and see if they can add it on. Of course, it will cost a bit extra.
Knowing the difference between fixtures and fittings can help you decide which home insurance policy is right for you.
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