From BMX bikes to electric guitars - get your kit covered by home insurance.
From fishing rods to golf clubs, our hobbies mean a lot to us. And with the average home filled with hundreds of pounds worth of equipment, is your passion properly covered?
Work out the value of your things
Cycling, golf, gaming – 93% of us take part in regular hobbies Footnote 1, most of which have accompanying pieces of equipment. If these items get lost or damaged you could be seriously out of pocket - that's where home insurance steps in.
But how do you work out what’s the right cover for you?
The first step is to figure out what they’re worth. We found that people often undervalue their equipment Footnote 2, when actually it’s better to value your items as if they’re brand new when declaring them on your policy. Your insurer will then replace the equipment, if it’s stolen for example, with a new model, whereas if you undervalue it they’ll only be able to replace it up to your estimate, which might not be enough if you can’t find a second hand replacement.
Check expensive items are covered
An electric guitar, your kid’s birthday bike, that camera you bought with your bonus – some things are worth more than others. To account for this, home insurance policies have a ‘single item limit’ (often around £1,000 - £2,000) for certain valuable items. This insures the items above this limit separately to the rest of your things.
Check your policy to make sure of what needs to be declared. If you have items above the limit, you need to tell your insurer or you might not be able to make a full claim.
Garages, sheds and vehicles
How you store your nifty pieces of equipment is important. Items stored within your house or flat will usually be covered. But if you keep equipment in garages, outbuildings, or vehicles, a word of warning - theft from these is more likely. As such, your insurance may have a lower cover limit or security requirements that need to be followed.
Chances are your hobbies will take you out and about – a golf trip for example - and you’ll want your clubs to be covered while they’re away from the home. Most insurers will let you do this as an extra cover, such as ‘personal belongings’, that you’ll have to select. There will be conditions that you’ll be expected to follow (such as how you store and secure things in your car) and you’ll likely have to declare if you plan on taking things over the single article limit away from the home.
Understand your cover
We don’t expect you to know all the ins and outs of your policy (leave that to us), but it can be helpful to have an understanding of how it all works.
- Your home insurance is in place in case the worst happens to your gear. It covers things like fire, theft, and flood damage.
- Accidental damage is an optional add on – so if you’re part of the 4% of people in the UK who collect antiques Footnote 3 and you’re worried about smashing the pride and joy of your collection, then think about adding this cover.
- Insurers may require expensive items that are over the single article limit to be declared - these are insured separately to the rest of your things.
- Items under the single article limit are insured under the ‘contents’ section of your policy, unless specifically excluded.
- Items stored in garages, outbuildings, and unattended vehicles are more at risk of theft and will have special conditions you’ll need to take note of.
- You may need to buy an additional cover to insure items while they’re away from the home.