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Test equipment and house insurance (UK)

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jmh:
Hi

Heaven forbid anyone has had stuff stolen but are there issues with UK house insurers and specialist (to them) stuff like 'scopes and other various equipment? Out house insurance is due for renewal and it made me think given I just forked out for a DS1154Z+ which now lurks in the workshop (aka garden shed). Our standard cover is 2.5k for sheds but looking at other company quotes some seem to have a quite narrow description of 'contents'.

I am minded to take out specialist insurance - RSGB sent flyers round with Radcom which I always throw away (and now need... hmmm).

What do others think / do  esp. where your lab is in a shed?

Ta

mikeselectricstuff:
Sometimes there are limits on "valuable items" - just check the small print. Valuables in a shed may be an issue.

tggzzz:
No general answer can be given - the answer is specific to a policy.

Tip for any insurance policy: spend 30s looking at what is covered, then fully read the exclusions and think of examples where each and every clause might be invoked.

The exclusion clauses are there because they can be (and probably already have been) used to deny payouts.

To short-circuit searching for a policy, see which companies "Which?" recommends.

jmh:

--- Quote from: tggzzz on June 16, 2020, 11:37:15 am ---Tip for any insurance policy: spend 30s looking at what is covered, then fully read the exclusions and think of examples where each and every clause might be invoked.

--- End quote ---

Quite. Our current insurer seems fine - I am querying it with them but it's taking an age. But looking at a policy from another well known insurer they make the point of describing contents as 'household items' and 'entertainment' stuff like TVs. It made me wonder if, as they are being rather specific they would argue that test gear is not entertainment equipment and refuse a claim. I've not contacted them about this because their policy is only 4 quid cheaper than our current one.

tggzzz:

--- Quote from: jmh on June 16, 2020, 12:04:13 pm ---
--- Quote from: tggzzz on June 16, 2020, 11:37:15 am ---Tip for any insurance policy: spend 30s looking at what is covered, then fully read the exclusions and think of examples where each and every clause might be invoked.

--- End quote ---

Quite. Our current insurer seems fine - I am querying it with them but it's taking an age. But looking at a policy from another well known insurer they make the point of describing contents as 'household items' and 'entertainment' stuff like TVs. It made me wonder if, as they are being rather specific they would argue that test gear is not entertainment equipment and refuse a claim. I've not contacted them about this because their policy is only 4 quid cheaper than our current one.

--- End quote ---

Good luck getting an answer! I once tried to get an assurance that I was going to insure for an appropriate amount - and couldn't even get that! I hope they don't regard your enquird as preparation for making a false claim!

Insurance should always be uneconomic in the sense that you expect to pay more than you receive. In that sense you are buying peace of mind, and cutting corners negates that.

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