All Risks Cover
All Risks Cover is an additional benefit you can add to your home insurance policy. This optional extra offers better protection for valuables than standard contents insurance. These valuables may include electronic equipment, jewellery, cameras, bicycles, laptops, etc. All Risks Cover in Ireland offers peace of mind by protecting valuable personal items both inside and outside your home.
This benefit will cover valuables for theft, loss and accidental damage inside or outside your property. It also includes worldwide cover for generally up to 60 days and is available for both owner-occupiers and renters. There are two options available: Specified and Unspecified All Risks Cover.
What does All Risks Cover mean?
It’s an optional add-on to your home insurance that protects valuable items against theft, loss, or accidental damage at home or abroad.
What is Specified All Risks Cover?
Specified All Risks Cover is insurance for valuable items generally worth over €1k. These may include wedding and engagement rings, watches, laptops, etc.
You must outline these items in your policy documents, specifying the required level of cover for each. Most insurance companies allow you to list up to 6 items under this section. You may need to keep receipts for items valued at over €5k or obtain an independent valuation to confirm the cost.
In the event of a claim, the insurer will reimburse you for accidental damage or loss to items specified in the policy document, up to the maximum amount insured shown against the item on the policy schedule.
What is Unspecified All Risks Cover?
Unspecified all risks cover is insurance for valuable items that are generally worth less than €1k. These items may include bicycles, cameras, iPads, etc. These are lower-value items that you can take outside of your home.
Unlike the specified All Risks Cover, you do not list these items in your policy document. These items will be insured for a total coverage amount you can choose. The full cover limit will be outlined on your home insurance policy. Cover limits may apply. For instance, criteria may state a maximum cover level of up to €2k per year for all unspecified items. All policies compared are underwritten by regulated Irish insurers, giving you peace of mind that your valuables are fully protected. Get a cheap home insurance quote online, or give us a quick call on 042 935 9090 to learn more!