Portable content insurance
Submitted: Wednesday, Jan 15, 2025 at 18:44
ThreadID: 149463
Views:565
Replies:6
FollowUps:5
Roan S
Hi, we will start our big lap 1st of Feb and re pretty exited about it. Thing is though that we will cancel our rent and don’t have a
home to come back to, which is fine, but without a
home it seems pretty difficult to insure portable items of value while travelling. Even caravan insurance offer very limited cover.
Things I will bring is mountain bikes , laptop, computer, drones, diving gear, camera etc. Does anyone know an insurance that will insure portable content only ? So not part of a
home insurance? Thx
Reply By: Kenell - Thursday, Jan 16, 2025 at 08:12
Thursday, Jan 16, 2025 at 08:12
Roan,
Travel Insurance is available for travel within Oz for people in your circumstance. It is not as expensive as the o/s cover because you don't need the medical cover or at least not to the same extent as o/s travellers. The "baggage" cover is flexible and you can often add specific items in. There are potential sideline benefits too such as legal liability cover that generally comes with
home contents cover. There are any number of providers but I would start with your motoring care provider ie NRMA, RAC etc. Their policies (sorry PDSs) all have variations in the area you are interested in.
Its not the perfect answer but Portable Property Insurance is not a profitable line for insurers so they aren't likely to sell it stand alone.
Good luck and enjoy your trip.
Kenell
AnswerID:
647178
Follow Up By: Roan S - Thursday, Jan 16, 2025 at 09:30
Thursday, Jan 16, 2025 at 09:30
Thanks, Kenell for the advice.
I have checked a few domestic travel insurers and got some quotes.
The content cover looks interesting however all of them have a clause that you cannot leave your belongings in a car or caravan unattended or it must be in a lockable compartment but the cover is still reduced to just $500 instead of the 'normal' cover of $3500 for example.
I found that commbank has a portable content insurance only.. which costs about 10% of the total value of the items you want to cover.
cheers Roan
FollowupID:
928017
Reply By: Peter_n_Margaret - Thursday, Jan 16, 2025 at 09:48
Thursday, Jan 16, 2025 at 09:48
Talk to a broker. This is their job and they work for you.
Cheers,
Peter
OKA196 motorhome
AnswerID:
647183
Follow Up By: Kenell - Thursday, Jan 16, 2025 at 13:07
Thursday, Jan 16, 2025 at 13:07
Peter, unfortunately insurance brokers will rarely enter the "personal lines" space now. All the "ations" have made it very expensive and unattractive for them. Regulations around giving advice, remuneration and accreditation not to mention the prevalence of insurers preferring to deal directly with customers electronically has all served to push them away. They will assist where there is a valued connection but the cover the OP is seeking is the real low end. Brokers actually can't access many of the products available in the direct space.
The only other solution I can think of is to take up a contents cover using the address of a relative for a sum insured equivalent to their minimum premium and extend that to cover the portable items. It is overkill but I can't think of many other options.
Kenell
FollowupID:
928024
Follow Up By: Peter_n_Margaret - Thursday, Jan 16, 2025 at 18:58
Thursday, Jan 16, 2025 at 18:58
That is not our experience.
Cheers,
Peter
OKA196 motorhome
FollowupID:
928035
Follow Up By: Kenell - Thursday, Jan 16, 2025 at 20:24
Thursday, Jan 16, 2025 at 20:24
You are no doubt the rarity I referred to Peter.
I am guessing you have a long term relationship and your premiums add up to more than a few hundred dollars.
Don't get me wrong I am a staunch broker advocate and I have met or know probably 75% of the brokers in Oz. The OP in this thread won't excite too many with his enquiry unless there is an existing relationship.
Kenell
FollowupID:
928041
Reply By: Member - Cuppa - Thursday, Jan 16, 2025 at 15:02
Thursday, Jan 16, 2025 at 15:02
There could of course be another way.
A choice could be to do a self evaluation of the risk of loss with a view to saving on the cost of insurance.
What are the chances of losing it all? What impact would the loss have? Devastating or just inconvenience?
For our part we only have a few 'high value' things we carry with us when travelling, Laptop & other devices, Camera & camera gear, but not a great deal more. Perhaps $10k to replace. If we were unlucky enough to lose it all in one instance it would an expensive loss, but not a disastrous one. Over a few years of travelling insuring them would likely cost us just as much. So we only insure the one major item that we could not afford to replace - the vehicle.
AnswerID:
647186
Follow Up By: Mark C2 - Friday, Jan 17, 2025 at 04:43
Friday, Jan 17, 2025 at 04:43
Yes culpa, self insurance is an alternative but I've just upgraded my camera gear at a cost of $15k plus a $4k laptop. I did have a policy but after one minor claim, they will no longer provide cover. I now self insure contents but have to pay big $ for the car/van insurance
FollowupID:
928044
Reply By: Member - wicket - Friday, Jan 17, 2025 at 10:02
Friday, Jan 17, 2025 at 10:02
If you are a cmca member then they do offer portable contents insurance, no experience myself but can get some info on this page. See the faq
https://ktinsurance.com.au/motorhome-insurance/
AnswerID:
647193
Reply By: Mark C2 - Saturday, Jan 18, 2025 at 12:11
Saturday, Jan 18, 2025 at 12:11
Most caravan insurance companies will offer increased cover for contents but only if damages IN the van, ie not outside in the bush.
Brokers are very limited to what they offer and only work with a select number of insurers, not like days past when they would do the leg work for you.
AnswerID:
647204
Reply By: Batt's - Saturday, Jan 18, 2025 at 12:27
Saturday, Jan 18, 2025 at 12:27
Just had a quick look at QBE who mention portable insurance and also bike insurance if you accidentally hit someone never thought of that before.
AnswerID:
647205