All Risks Cover
All Risks Cover
All Risks Cover is an additional benefit you can add to your house insurance policy. This optional extra will offer you a better level of cover for valuables than standard contents insurance. These valuables may include electronic equipment, jewellery, cameras, bicycles, laptops etc.
This benefit will cover valuables for theft, loss and accidental damage inside or outside of 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 cover.
What is Specified All Risks Cover
Specified all risks cover is insurance for valuable items that are generally worth over €1k. These may include wedding and engagement rings, watches, laptops, etc.
You must outline these items on your policy documents with the level of cover required. Most insurance companies will let you list up to 6 items under this section. You may need to keep receipts for items with a value of over €5k or get an independent valuation to confirm the cost.
In the event of a claim, the insurer will reimburse you for accidental damage or loss for items specified in the policy document up to a 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 on your policy document.
These items will be insured for a total cover amount, which 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. Get a cheap home insurance quote online or give us a quick call on 042 935 9090 to learn more!