What is usually classed as a High Risk Item for Contents Insurance?

Tunstallstoven

Hi again

Sorry first of all for the recent influx in insurance questions! I think this will be my last. Thanks for bearing with me and for all the help.

We have now taken out our Home insurance with Halifax. There was no mention of a High Risk Limit until we received the docs in the mail. Turns out that it is around £25k. There is a definition for High Risk Items in the booklet, and there is states "Audio Equipment". As I have a small recording studio and a lot of music gear, I called them to ask about certain items and was told that THESE WOULD NOT BE CLASSED AS HIGH RISK:

- Studio Outboard (Mic Pre-amps, compressors, EQs, etc)
- Microphones
- Guitars and Instruments
- Leads
- CDs
- Vinyl
- DVDs

I asked them to confirm this in writing and they said they would not.

Being naturally cautious, I called back then next day and went through it again, and again asked for confirmation. The chap was more helpful and said he would arrange for a letter to be sent. Received the letter this morning, but it only mentions musical instruments; none of the other things form above are mentioned.

Am I being overly cautious? Should I insist on written confirmation? Do other policies include such items as High Risk (or do policies vary too widely to be comparable)?

Once again, thanks for all the help.

Max

iBeast

Televisions, xbox, computer art work ,jewellerey that type of thing. it can vary though

InsideInsurance

As you have a policywording it will say in the policy what they define as these things.

"High Risk Items" tends to be used by more budget/ mainstream providers and covers your traditional Valuables (gold, jewellery, art, watches etc) and adds on electronics, cameras, computers etc

Traditional/ higher end policies tend to stick to only the traditional "valuables" instead

Tunstallstoven

Thanks for the replies guys.

Yeah, the policy booklet does define High Risk and one of the things it says is "Audio Equipment". To me that is quite vague.... Studio recording equipment, guitars, CDs... I would say they can all be seen as audio equipment if one chooses to see them that way.

That's where my concern is....

Cheers

InsideInsurance

It varies by insurer hence why you need to check with your particular provider.

Esure for example does include CDs and DVDs themselves within their definition of High Risk as per http://www.esure.com/helpful_resources/guide_to_home_insurance/high_risk_items/index.htm

Tunstallstoven

Hmmm... I'll have to get back in touch with them then. They have said (twice) on the phone that the above listed things are not included, but I have learnt the hard way over the years that if something is not written down it don't mean a thing....

Cheers

InsideInsurance

Seagull27 wrote: »

Hmmm... I'll have to get back in touch with them then. They have said (twice) on the phone that the above listed things are not included, but I have learnt the hard way over the years that if something is not written down it don't mean a thing....

Cheers

Note time, date of the call along with who you spoke to and what number you called from and to.

If you have a problem in the future refer to the call, the ombudsman doesnt take too kindly to insurers who "lose" call recordings

Alternatively, ask them to put it in writing though depending on their setup this may or may not be easy for them to do

Tunstallstoven

Thanks - that's really helpful.