Key safes are popular across Victoria for renters and homeowners who need to allow third parties into their homes. But are they truly safe?
Home Insurance
What doesn't Portable Items Cover insure?
Where can I take my portable items to remain covered?
How do I increase my cover for portable items?
How to insure portable items that leave the home
Contents insurance covers items in your home. But what about items that you take out of your home, such as your sporting equipment or portable electronics?
Contents insurance protects your personal possessions inside your home against risks such as theft, fire, and flood. It typically covers items such as furniture, appliances, clothing, electronics, and homewares. But if you want to insure items that you take outside the home, then you may need additional cover for certain items, such as a laptop, phone, bicycle, or mobility scooter.
For instance, with RACV Contents Insurance, you will always have general contents cover. However, there is a limit to how much is paid for specific valuable items in the event of a claim due to an insured event. To protect certain items, you might opt for Portable Items Cover, which helps protect valuables that you or your family take outside your home, such as jewellery, watches, mobile phones, smart watches, sunglasses, and hearing aids.
Here's what you need to know about the option of Portable Items Cover.
What to know about Portable Items Cover
What is Portable Items Cover?
Portable Items Cover is an optional extra that you can add to your RACV Contents Insurance. It covers eligible items that are lost, stolen or unintentionally damaged outside of your home.
'Portable items' are defined as those contents items that you or your family own and are designed to leave your insured address with you (such as a handbag, wallet, laptop, camera, suitcase or musical instrument) or on you (such as spectacles, sunglasses, jewellery or clothing).
Portable Items Cover groups and sum insured are shown separately on your current Certificate of Insurance.
Portable Items Cover can insure portable electronic devices such as your smartphone.
What does Portable Items Cover insure?
You can insure any of the following groups of contents under Portable Items Cover:
- Jewellery and watches - includes rings, watches, bracelets, necklaces and medals
- Portable electronic devices - includes laptops, cameras, mobile phones, audio visual equipment, smart watches and fitness bands
- Clothing and luggage - includes baby capsules, clothes, luggage and purses
- Sporting and recreational items - includes bicycles, musical items, camping and sporting equipment
- Glasses and medical items - includes sunglasses, prescription glasses and hearing aids
- Mobility scooters.
What doesn't Portable Items Cover insure?
Portable Items Cover does not cover any of the following:
- if you scratch or dent an item
- items being cleaned, repaired or restored
- fishing and sporting equipment, musical instruments or firearms while someone is using them
- a bicycle while being used in a competitive race or time trial.
Sporting equipment, like golf clubs, can be covered under Portable Items Cover, but not while the equipment is in use.
How much can Portable Items Cover insure my items for?
When adding portable items to a policy, the value covered (your sum insured) needs to be based on how much it would cost to replace the item/s at today's prices.
You don't need to list individual items unless an item is worth more than $10,000. If you want coverage of an item for more than $10,000 you may be asked to provide a written valuation.
Where can I take my portable items to remain covered?
You can take your portable items anywhere in Australia or New Zealand and they will be covered for the insured amount under your Portable Items Cover.
If you take your items outside Australia or New Zealand, then coverage is limited to $10,000 for all items.
Bikes can be covered under Portable Items Cover, though some conditions apply.
How do I increase my cover for portable items?
Your Portable Items Cover can be increased at any time, provided you aren't in the process of making a claim for the item.
After identifying what contents and the value of the items you would like covered, contact or visit RACV to assist in updating the cover on your policy.
For items over $10,000, please have a description for each item.
For items over $25,000, please have a valuation certificate or purchase receipt available.
The information provided is general advice only. Before making any decisions please consider your own circumstances and the Product Disclosure Statement and Target Market Determinations. For copies, visit racv.com.au. As distributor, RACV Insurance Services Pty Ltd AFS Licence No. 230039 receives commission for each policy sold or renewed. Product(s) issued by Insurance Manufacturers of Australia Pty Ltd ABN 93 004 208 084 AFS Licence No. 227678.
Cover for portable items is subject to underwriting guidelines, please refer to the PDS. Please note, fishing and sporting equipment, musical instruments or firearms not being covered whilst in use.
