Long term overseas insurance for valuble items against theft

earthwormjim

Hi,

Going backpacking soon in new zealand will be carrying electronic items with me value circ £3k

seen a lot of travel insurance for backpacking etc but personal items seem to be mainly up to £1000

any suggestions on good companies that will tailor to my needs - well run insurance companies that will not try and avoid paying out in the unfortunate situation that i need to claim

the items are my music equipment and of upmost value to me so want to get the best insurance possible really

thanks in advance

alphonse k wimplemier

InsideInsurance

Travel insurance is mainly about medical expenses rather than valuables cover, anything like that is almost always just a token amount.

Look at the premium providers like American Express who offer up to £2,500 of cover for backpackers. Alternatively if you have decent home insurance it may give sufficient cover for your needs under the Personal Possessions section

earthwormjim

yeah this is exactly what ive found

thanks for the reccomendation - american express seem to offer excellent cover at very reasonable prices

Voyager2002

The best advice is to leave your electronic toys at home: the whole point of travel is to engage with a new part of the world rather than bring your entertainment with you. And just imagine how good your music will sound when you get back after months of not hearing it!

Some comments on the American Express policy, which I used a couple of years ago:
Check the policy document VERY carefully. It does not cover computers nor similar devices, advising you to ensure that these are covered by your home insurance;
It is actually underwritten by one of the insurance giants, someone like AXA or AVIVA, so that is who you deal with. AmEX is just a brand name;
I needed to make a claim, and made the mistake of basing my valuation on the purchase price of the gold ring that had been stolen. Of course the price of gold had increased dramatically since purchase. Initially they deducted something for depreciation, but I argued against this and they did eventually base their settlement on the original price. In terms of the amount of time it took to settle the claim and the quality of communication I would rate them as fair: nothing to complain about, but not brilliant either.

InsideInsurance

earthwormjim wrote: »

thanks for the reccomendation - american express seem to offer excellent cover at very reasonable prices

Wasnt a recommendation, just a statement that some higher limits exist. There are others like Insure&Go Black, Virgin Money Black (which is a rebadge of Insure&Go anyway) etc