It’s never a good idea to store valuables in the car, but as Christmas approaches and gift buyers look to hide presents away from eager recipients and curious children, the boot of the car can seem like an appealing place to stash your newly purchased presents. But as well as the security risk this poses, the insurance cover that’s provided for personal possessions can vary depending on the car insurance policy that you have in place.
The comparison site reviewed 314 car insurance policies this November and found that, while most comprehensive car insurance policies include personal possessions cover (92% provide this cover as standard), the actual amount that each policy covers can differ from product to product.
Out of 314 standard comprehensive car insurance products, Go.Compare found that:
8% of policies do not provide personal possessions cover as standard
Almost a quarter (24%) of products cover less than £200 worth of personal possessions
49% offer cover of between £200 and £499,
And a further 19% of products offer cover for possessions worth £500 or more.The car insurance comparison site also found that Third party, fire and theft policies (TPO) will not offer any personal possessions cover at all.
While the majority of comprehensive car insurance policies will provide some sort of cover for personal possessions, you could invalidate this cover if you leave possessions in view within the car, or you don’t secure the vehicle properly.
If you do find that your car insurance policy doesn’t provide enough cover, you could also be covered by a home contents policy and its personal possessions cover. This protects your belongings against theft, loss and accidental damage when you take them outside the home.
Go.Compare found that, out of 332 home contents policies, 41% provided cover for personal possessions in a car up to the contents or personal possessions sum stipulated on the policy itself. However, some insurance companies will only cover “everyday items”, so you might find that they will not cover gifts hidden in a car. Therefore, if you’re planning on buying expensive gifts such as laptops or mobile phones, you will need to check that you are covered for these items away from the home.
Tom Banks, insurance spokesperson at Go.Compare, commented: “Our research shows that the level of personal possessions cover offered by car insurance policies can really vary, and whilst many policies provide some sort of cover, you can’t assume you will be able to make a successful claim if items are stolen from your vehicle. And while it seems that home insurance can offer additional cover, and often at a higher value, there’s also no guarantee that the insurer will class Christmas gifts as “everyday items” on your home insurance, and that you will be covered if anything should go wrong.
“Go.Compare data also found that December is a peak month for car insurance claims and some of this will be undoubtedly be down to opportunistic thieves who take a chance that expensive items have been left in a vehicle.
“It’s never a good idea to keep anything valuable in the car, and even thought the boot might seem like a great temporary hiding place against those prying eyes, it’s not worth the risk if the worst happens and you find that your car insurance doesn’t cover the loss.”
For more information about personal possessions cover on your home and car insurance, please visit here and here
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