Watch + phone insurance (and other goods)

llyamah

Hi all

Does this sound like a good deal, offered by my home insurer, Legal & General?

I have a watch worth c.£3000 brand new (I purchased second hand for £1500) and a Samsung Galaxy S4. I want to insure it against loss, theft, damage etc at home and abroad.

L&G have quoted the following for insurance until 19 November (when our policy expires):

• Watch: £36.11
• 'Unspecified Items' under £1500, maximum £2k limit at any one time, inc. £500 cash: £29.90
• Excess £150

I've worked this out per annum, and it works out to be £111 per year, or just over £10 per month.

Does this sound like a good deal? It is worthwhile noting that my partner also has some jewellery and may get a 'decent' phone, which will also be covered (up to £2k for the both of us).

Are L&G 'good' when it comes to paying out, or do they dig their heels?

InsideInsurance

Sounds a little on the high side but of cause it depends on where you live, your age, your claims history etc

My previous Axa policy I paid £105 per annum for £15,000 of Personal Possessions cover with single items up to £10,000 each but a £200 excess

llyamah

Thank you. Is my home insurance probably the best bet for insuring these items, or should I be looking elsewhere?

InsideInsurance

You can cross compare with the likes of T H March who would insure the watch on a standalone policy. For me PP covers everything we take out the house and is cheaper than a standalone policy just for our watches/ rings etc.

I would never pay for Mobile insurance and so wouldnt recommend that as a way forward to deal with the phone. That said, it would be unlikely to be cost effective to claim for accidentally breaking phone on your Home insurance when you factor in both the excess and the premium inflation for the next 3-5 years.