OUTsurance Portable Possessions Insurance Review 2023

OUTsurance portable possessions insurance is insurance for valuables that you take with you when you leave the house. Policyholders can […]

OUTsurance Portable Possessions Insurance

OUTsurance portable possessions insurance is insurance for valuables that you take with you when you leave the house. Policyholders can choose between unspecified and specified cover up to a maximum of R85,000.00 cover and a tailored maximum respectively. Specified cover only covers items worth more than R1,500.00.

The OUTsurance portable possessions insurance policy covers portable possessions all over the world. Portable possessions insurance covers items for accidental loss or damage anywhere in the world.

The OUTsurance portable possessions insurance premiums are guaranteed to remain the same for the first 12 months. Even if the insured files a claim within the first 12 months of having the policy, the premiums remain the same.

The OUTsurance portable possessions insurance is discussed in greater detail below.

OUTsurance Portable Possessions Insurance Summary

OUTsurance Portable Possessions Insurance is an insurance product that protects one’s portable possessions from loss or damage. The insured portable possessions are covered both locally and internationally.

Portable Possessions Insurance from OUTsurance covers items that are taken out of the house. The OUTsurance Portable Possessions Insurance covers a variety of items, including but not limited to:
Jewellery,
Watches,
Clothes,
Eyewear,
Photographic equipment, and
Other electronic devices and items.

Additional insurance coverage can be added to policyholders’ portable possessions insurance. Customers can supplement their coverage with bicycle and cellphone insurance. Cellphone insurance offers comprehensive standalone coverage in which one must specify the cellphone to be insured and cover it for its current value.

OUTsurance Portable Possessions Insurance Plans

OUTsurance offers 2 types of portable possessions insurance covers. Coverage varies according to the item insured. The value of the insured item will determine which cover the item falls under. There are 2 types of covers available: unspecified and specified.

Specified cover and unspecified covers are explained as follows.

Unspecified Cover

Unspecified Cover is used for items of lower value. These items are typically grouped into one of several groups of items that one takes when leaving the house. Items covered by the unspecified cover must be less expensive; otherwise, if they are costly, they should be covered by the specified cover.

The maximum cover for items covered by the unspecified cover is R85,000.00. Each item is covered for a maximum of R1,500.00.

With the OUTsurance unspecified insurance cover, one can cover items that are less than R1,500.00. These items can include clothes, handbags, and more.

Specified Cover

OUTsurance specified cover provides cover for valuable portable possessions. The specified cover’s payout is based on the current value of the items insured. Items on the specified cover must be listed and their monetary value must be specified.

It is essential to use a South African Bureau of Standards (SABS) accredited evaluator. An evaluator will assist you in determining the current value of the item(s) you wish to insure with portable possessions insurance. Valuation certificates for the insured items must also be kept as proof of the value of the insured items.

Items such as jewelry, watches, handbags, branded clothing, and other valuables can be insured through OUTsurance Portable Possessions Insurance. Items insured under the portable possessions insurance, on the other hand, must be worth more than R1,500.00 each. On the specified portable possessions cover, there is no maximum allowable cover.

Benefits of OUTsurance Portable Possessions Insurance

Portable Possessions Insurance from OUTsurance comes with many benefits that can be enjoyed by policyholders. Benefits on the OUTsurance Portable Possessions cover are discussed below. 

Worldwide cover – Portable Possessions are covered all over the world. Portable possessions that you carry with you will be protected against accidental loss or damage anywhere in the world. 

12 Months Guarantee – Premiums on portable possessions insurance are guaranteed not to change for a period of 12 months. During this time, your claims will be unaffected.

Low flat excess – excess on claims remains fixed. 

Speedy claiming process – claims on the portable possessions insurance are processed as quickly as possible. 

What the OUTsurance Portable Possessions Insurance Doesn’t cover

  1. Loss of or damage to
  • Washing stolen from the washing line at your home address, 
  • Electronic programmers, data or unlicensed software, 
  • Money or cheque and other negotiable instruments
  1. Loss or damage
  • Caused intentionally by the policy owner or any member of the policy owner’s household, 
  • Which occurs with your knowledge or consent. 
  1. Remaining parts or items that are part of any set or pair. 
  2. Loss or damage caused by veld fire within the first 7 days
  3. Theft or racks, carriers, and other items on a vehicle

Advantages of OUTsurance Portable Possessions Insurance

  • Smaller portable items as well as larger items can be protected.
  • Portable possessions are insured all over the world.
  • The product comes with several free benefits.
  • The amount of coverage on specific items can be adjusted based on the item’s value.

Disadvantages of OUTsurance Portable Possessions Insurance

  • There is a possibility of being underinsured.
  • There is no cashback if you stay claim-free for a certain number of years.

Conclusion 

Getting OUTsurance portable possessions insurance may be the best solution to your portable possessions insurance needs. You can specify valuable items on your insurance policy to ensure that you are covered for the appropriate amount. The risks of being underinsured or overinsured are reduced because you can use an accredited evaluator to determine the real value of the items you want to insure.

If an item is not monitored, it is not covered if it is lost or stolen. The insurance product only covers insured items that are attended to by someone. Furthermore, the insurance policy excludes riverine flooding of portable possessions during the first seven days of coverage. 

When purchasing OUTsurance portable possessions insurance, it is critical to understand what you are not covered for. Make sure you are familiar with the contract you are about to sign and that you are getting the best value for your money.


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