U covered insurance solutions covers insurance for portable possessions under 3 main plans:
The Essential plan
The Classic plan
The Executive plan
If I get portable possessions insurance, how do I know what I get as the value for each claim under each plan?
At U covered, we have done the calculations for you- Refer below for a simple explaination:
At present these limits are:
- Essential Plan: R1 500 per item, pair or set.
- Classic Plan: 20% of the chosen sum insured with a maximum of R10 000 per item, pair or set.
- Executive Plan: 25% of the chosen sum insured with a maximum of R50 000 per item, pair or set.
Specified cover under portable possessions insurance
Any item you need cover for that has either limited cover or no cover at all under General clothing and personal effects, can be insured specifically under this section of cover.
Other important points:
- Remember that regardless of whether an item is specified or not, it’s necessary to keep proof of ownership of the item (and, where applicable, proof of its value) to produce at claims stage. It’s particularly relevant to items of jewellery where keeping up-to-date valuation certificates is necessary.
- Cover for portable possessions is relevant for items that are commonly used outside your home. Valuable items that are never taken out of the home can be covered under the contents section of a Discovery Insure Plan. This is subject to applicable limits, including a total limit on jewellery up to one-third of the contents sum insured.
If you keep items of value in a bank safety deposit or with IBV International Vaults, our safe deposit partner, a significantly reduced premium applies to that item.