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How Portable Valuables Cover can come in handy as phone insurance
Many of us can’t survive without our mobile phones. We take them everywhere, relying on them to stay in touch with friends and family and store important information. Not to mention taking photos of brunch. But what would happen if you lost or damaged your phone while out and about?
Portable Valuables Cover saves the day
“It was a Saturday night, we’d been out for dinner late, and had taken an Uber home,” Sarah tells us. “It wasn’t until about an hour later that I realised my phone wasn’t in my bag where I thought it was, and I must have left it in the Uber.”
Sarah’s purse with all her bank cards was also attached to the missing phone, leaving her without a way to access her money. Despite utilising her best detective skills, she had to cancel her cards and didn’t recover her phone until a few days later. It had been on quite the adventure, and was found damaged and dumped on the side of the road 75km away from her home.
Luckily, Sarah didn’t have to settle for living with a cracked screen until her next phone purchase. With Specified Portable Valuables Cover she could make a claim for the damage to her phone.
What is Portable Valuables Cover?
While AAMI Contents Insurance is designed to cover loss or damage to belongings at your insured address due to insured events like fire, flood or burglary – Portable Valuables Cover is for items you take with you away from home (within Australia and New Zealand). This can be important to ensure your mobile phones, laptops, and even jewellery, are covered in the case of loss or theft.
Take Sarah’s case for example. Her damaged mobile phone wasn’t covered by her Home and Contents Insurance because it wasn’t lost at her insured address. Her claim was accepted because she had added Portable Valuables Cover to her home insurance and listed her mobile phone on her policy.
“My phone is only 4 months old and I bought it outright for quite a lot of money,” Sarah says. “When I added it as a specified portable valuable I was definitely thinking I want this thing to last!”
At the same time as insuring her mobile phone, she also added her new laptop to her policy as a specified item – another important item that she carries around with her every day.
Specified Portable Valuables Cover can be ideal for personal items like:
- Mobile phones
- Laptops and tablets
- Jewellery, watches, handbags or wallets
- Sporting, recreational and leisure goods and equipment
- Photographic equipment
- GPS or navigational devices.
Unspecified Portable Valuables Cover has a limit of up to $1,000 per item, pair set or collection and mobile phones and laptops are not covered. However, you can add mobile phones and laptops to your policy, making them specified portable valuables. Specified items will be shown on your Certificate of Insurance.
How to claim on your Portable Valuables Cover
Sarah’s top tips for keeping your mobile phone safe
Following the ordeal of losing her mobile phone, Sarah has learned a lot about phone safety precautions. Her top tips for keeping your phone safe are:
- Don’t leave it in an Uber (well… obviously).
- If you can’t be trusted with the above, keep an old phone on hand as a backup option in case you do lose your phone.
- Keep your packaging! The box your mobile phone comes in will have the specific product information (including the serial number) you need to report the loss to police or to make a claim. This can also serve as proof of ownership (along with receipts, photographs, repair reports or bank statements), which you might need to get your claim approved.
- Sync up your Google or iCloud account. Then, you can use a Find My Phone/Find My iPhone app to track it if it’s lost.
- Secure your phone in a durable case, to avoid damage if it does go on adventures without you.
- Consider Portable Valuables Cover, and specify your mobile phone.
Home insurance isn’t just for homeowners. If you’re renting, find out how we can help you with Contents Insurance for renters. This insures your goods against fire and theft, regardless of whether you own the property you live in.
- Does home insurance cover my mobile phone?
- How do I insure my engagement ring?
- Jewellery insurance: A claiming and record keeping guide
Insurance issued by AAI Limited ABN 48 005 297 807 trading as AAMI. Any advice has been prepared without taking into account your particular objectives, financial situation or needs, so you should consider whether it is appropriate for you before acting on it. Please read the relevant Product Disclosure Statement before you make any decision regarding this product. The Target Market Determination is also available.