Why it Pays to Value your Valuables!

by : Keith McGregor

And it doesn't stop there as this term includes many other articles, some which you would expect to be looked upon as a valuable item, such as jewellery and watches, but can also include such everyday items as spectacles, sunglasses, mobile phones, MP3 players and more. You name it, and if it is an attractive and fashionable item, then you can bet that, for insurance purposes, it will be grouped into the valuables definition.
It doesn't stop there because your money, travel documents, passports, credit cards will all also come under the stricter care rules that are applied to 'valuables'. So returning to the camcorder, most travel insurance policies will not pay up if it looks like negligence on your part. For example, valuable items packed into your hold luggage are rarely covered because theft from unattended baggage will invariably be excluded. If you can prove that the items were with you or locked in your hotel accommodation then insurers will probably pay out but they may ask for further information, such as the circumstances of the loss or theft and a police report or hotel report to back up your story.

Highly valuable items, such as money and jewellery, will always be expected to be locked away in a hotel safe or safety box when not on your person; inside a locked suitcase inside a locked hotel room is rarely good enough for the travel insurance company.
This is why it pays to look at the small print of your policy before you travel, if only as a last minute reminder about the extra care needed to look after your valuable items. No-one wants to lose these items in the first place but it is doubly painful to find that they are not covered when you come to claim because simple safety precautions were not followed. A final point to remember is that if your travel insurance does not cover it, then some household insurance policies cover 'all risks.' This means that personal belongings could still be covered but travel insurance providers will still apply the golden rule that the articles must be properly cared for whilst on holiday.