Contents insurance how does it work ?

MovingForwards

Have a read through your policy and see what has been declared as sometimes bikes etc have to be declared to be covered, especially if you have an expensive one and not a cheap one.

Most insurance companies have a maximum per item value written in to the policy, anything over that has to be declared else it's not covered.

If you take an item out and lose it / it's stolen, it may not be covered under the policy unless disclosed.

If you accidentally drop / break something, if you haven't got accidental damage, you are not covered.

Read through your policy and read through a lot of the threads on here so you have a better idea as to what insurance is for, what it can cover and what's expected of you.

venomx

Ok thanks I’ll call up and ask just to be sure 

venomx

“ pedal cycle cover upto to the maximum value £500 any one cycle is included “ that means my bike is covered right ?

davidmcn

venomx said:

“ pedal cycle cover upto to the maximum value £500 any one cycle is included “ that means my bike is covered right ?

If it's a pedal cycle worth no more than £500, yes.

venomx

Great . Would it be a good idea to hold on to receipts when possible too ?

olgadapolga

venomx said:

Great . Would it be a good idea to hold on to receipts when possible too ?

Is your policy "New for Old"? I had a new for old policy and when my bike was wrecked (hit by a car) they just wanted a link to a bike of similar specification and they paid out on that. When I did produce a receipt for a pair of spectacles that also got wrecked in the incident, the insurance company refused to accept it as it was from several years ago and they said that the cost of spectacles would have gone up between purchasing them and claiming for them after the incident.

As an aside, I always keep receipts for larger purchases anyway (as you don;t know if there's going to be a problem with it once you've used it) so I had the receipt for the bike that was wrecked anyway. But the insurance company didn't want the receipt.

venomx

Right my scooter is covered inside the home but would be about £90 outside the home too.
its very unlikely I’d take the scooter and leave it anywhere other than my home but if it did go missing outside the home how would they prove this ?

eddddy

venomx said:

Right my scooter is covered inside the home but would be about £90 outside the home too.
its very unlikely I’d take the scooter and leave it anywhere other than my home but if it did go missing outside the home how would they prove this ?

Your question is a bit unclear... Are you asking what would happen if you attempted to commit fraud (which is a criminal offence) by telling an insurer that the scooter was stolen from inside your home, when it was really stolen from somewhere else?

I guess the first thing the insurer would ask for is details of a burglary crime report that you made to the police. If you then lie to the police by making a false crime report to support your insurance claim, you'd be committing further criminal offences.

The insurance company and the police would investigate your claims - and if they conclude you were lying, your claim would be rejected, you might face criminal prosecution, and you would probably find it difficult (or impossible) to get insurance in the future.

venomx

No I’m not asking that. I’m an honest person. I was just curious as I don’t know much about how insurance claims work

davidmcn

venomx said:

No I’m not asking that. I’m an honest person. I was just curious as I don’t know much about how insurance claims work

Maybe find something else to worry about until such time as you have an insurance claim to make.