Today’s post is from Richard Hiscox of Onestop Insurance. Whilst technology makes online comparison of most things fairly easy, when it comes to insurance I am a great believer in people with experience, who have real-life experience of claims, which is the only real test of whether your insurance is value for money or not . Richard has been my insurance broker for over 20 years and I am delighted that he has agreed to share some of his thoughts here. Just to be crytal clear, as with all posts within the blog, there is no financial exchange.
Laptops on Planes
You will no doubt have heard about certain flights into the UK and USA banning things like laptops from hand luggage, insisting that they are carried in hold luggage instead. So where do you stand with regards to insurance of these items?
Whilst I cannot speak for all insurers the following will normally be true. You may want to check it out before you travel with your travel providers just to be clear though. Your options are:-
Rely on the airline to cover your goods.
Trust your travel insurance policy to deliver.
Cover items under your home insurance policy.
Airlines usually settle claims for lost or damaged baggage based on the weight of the baggage NOT the true value of the contents. If you rely on this method to be reimbursed you could be seriously out of pocket so this is not the choice we would suggest.
Laptops are normally classified as “valuables” and as such under a travel insurance policy therefore afforded quite limited cover, especially when placed in the hold of an aircraft. Normally valuables are not covered within the hold of an aircraft and if lost or damaged would have to be part of a claim against the airline who in turn could limit the amount they pay out as already stated.
This is normally the best way to insure high value items such as laptops when travelling by aircraft. The items should be covered as “all risks” or “personal possessions” but precise details of this cover need to be checked to ensure any claims will be problem free. Either speak to your insurers or give Richard a call at 1 Stop Insurance.
You can read more articles about Pensions, Wealth Management, Retirement, Investments, Financial Planning and Estate Planning on my blog which gets updated every week. If you would like to talk to me about your personal wealth planning and how we can make you stay wealthier for longer then please get in touch by calling 08000 736 273 or email firstname.lastname@example.org