(student) possession insurance

DomTom

hello everyone,
I was wondering if anyone could help me with this.

You know in possession insurances (specifically the endsleigh student possession insurance), what is actually covered?
I ask because last year my ipod got stolen in the library when I left to get myself a cup of coffee, and apararently I was not covered for that (it being unattended and all). in what cases am I actually covered when it comes to loss and theft? i have read their T&C but they arent too clear, they mention loss but im not sure what they mean by loss (clearly not my definition of loss anyway)

seems a bit weird that they say they cover loss so long as its in your sight? how can you lose something thats in your sight

dogbot

Loss means loss of the item in the true sense not the modern english definition which has come to mean something like to mislay something.

You are insuring your financial interest in things when you purchase insurance, and not the thing its self (indemnity). It just so happens that when you purchase domestic home insurance you actualy buy more than indemnity (i.e. new for old).

You suffer loss when an insured "peril" causes a loss to you through the property insured. For example; "the loss occured when a fire swept through the house, causing significant damage", or; "The death of Mr Smith is a terrible loss to society".

Your posessions are covered for "loss" trough the insured "perils" (e.g. Fire, Theft...). These terms will be defined in the policy's definition section, and if not, they are legaly interpreted in a variety of ways depending on a variety of things. Theft has a fairly common legal meaning of something like taking without consent.

DomTom

thanks for the reply, loss wasnt defined in the documents of their policies so i wasnt sure. the "add ons" to insurances seem a bit of a con as there are only certain situations in which you are actually insured, basically mugging.

dogbot

Sorry I don't agree that ersonal posessions cover can ever be considered "a con"; you are covered for actual theft but not for just leaving something lying about and the terms of the policy were available before you bought into the contract.

You can't expect someone to offer cover for absolutely any situation since the probability of loss would be too high to charge a reasonable premium. People have to take some responsibility for their actions and take reasonable precautions.

Theft could be mugging, pick pocketing, leaving something in a locker while at the swimming pool and it gets cracked into and the item stolen, theft from your hotel room... Personal possessions cover is most peoples best way of insuring their possessions when going on holiday, travel insurance only covers a relatively small sum and on an indemnity not new for old basis.

Clive_Woody

DomTom wrote: »

hello everyone,
I was wondering if anyone could help me with this.

You know in possession insurances (specifically the endsleigh student possession insurance), what is actually covered?
I ask because last year my ipod got stolen in the library when I left to get myself a cup of coffee, and apararently I was not covered for that (it being unattended and all). in what cases am I actually covered when it comes to loss and theft? i have read their T&C but they arent too clear, they mention loss but im not sure what they mean by loss (clearly not my definition of loss anyway)

seems a bit weird that they say they cover loss so long as its in your sight? how can you lose something thats in your sight

There must be something in your policy about taking reasonable care to avoid losses, i.e. not leaving expensive items unattended in public places.

No offence mate, but that was a pretty silly thing to do, insurance doesn't cover instances where the policy holder admits to acting in a careless manner and leaving your iPod in the library while you wonder off for a coffee wasn't the best idea.

geri1965_2

I'm assuming you have cover for personal possessions away from your residence.

You really need to look at the policy wording - in particular, look at the exclusions.

DomTom

i hadnt actually read the T&C properly before, but theres so much that isn't covered. Accidental damage to my stuff for example. i paid £100 for my insurance, i did actually expect accidental damage to be covered