Discovery Portable Possessions Insurance Review 2023

Discovery Portable Possessions Insurance is a short-term insurance policy that covers portable possessions worldwide. Personal effects are insured up to a maximum of R150,000.00. Other items, excluding clothing and personal effects, can be insured under the Discovery Portable Possessions Specific Items cover. A Portable Possession that is valued for R2,000.00 or more can be specified.

Portable possessions insurance protects personal belongings from loss or damage. It does not, however, cover intentional damage or loss caused by negligence. As a result, proper management of your portable insurance is critical even if you have portable possessions insurance from Discovery Insure.

The portable possessions insurance from Discovery Insure protects portable possessions from loss or damage. Clients can select from a variety of portable possessions insurance options provided by Discovery insure, and they can choose the plan that they believe is best for them.

Discovery Insure’s Portable Possessions Insurance has its own limitations, but it comes with plans that have some of the best covers for portable possessions insurance products in South Africa.

The Discovery Portable Possessions Insurance Plans are discussed in detail below.

Discovery Portable Possessions Insurance Plan

Customers can choose from 3 different Discover Portable Possessions Insurance plans when insuring their portable possessions. The Essential Plan, Classic Plan, and Purple Plan are among the portable possessions insurance plans available.

Below are the portable possessions plans discussed. 

1. Essential Plan

The portable possessions Essential plan provides cover that is limited based on what one wants to cover. This cover is for any portable possessions that you carry around with you.

Like any other portable insurance plan, you will need to specify items under the Essential plan. Items that are expensive such as jewellery, watches and collectable assets of value will have to be specified. Unspecified items are also included in the Essential plan. 

Unspecified Items use aggregated cover amounts for claim purposes. If an item does not fall under the unspecified cover criteria, it should be specified. This will help get the right cover for the item insured. The value of an item that is insured must be correct for claiming purposes. The use of a SABS (South African Bureau of Standards) valuator is advisable when insuring specified items. 

2. Classic Plan

Discovery Classic plan offers a moderate cover for portable possessions. The Classic plan covers a wide range of items and many of which need to be specified. Specification of items will help in providing the actual value of an asset. When making a valuation of an asset it is good to keep the valuation certificate of an asset that is being specified. This will help in making claims in the future.

The use of a SABS accredited valuator when valuating the items you intend to insure under the specified cover is crucial as it will provide credibility to the valuation of the assets. Furthermore, such a valuation will help in making sure that the amount covered is the correct asset value.

The items that the classic cover include:

• General clothing and personal effects,
• Safety deposit items,
• Camera and media devices,
• Caravan and camping equipment,
• Computing equipment and mobile communication devices,
• Firearms,
• Jewellery,
• Watches,
• Motorised equipment,
• Pedal cycles,
• Stamp, medal and coin collections,
• Surfboards, paddle skis, kayaks, canoes, kiteboards, surf skis, windsurf boards, and sailboards, and more

3. Purple Plan

Discovery Purple portable possessions insurance plan provides high-end cover on items that fall under the portable possessions category. All items need to be specified under the Purple plan and these may include:

• General clothing and personal effects,
• Safety deposit items,
• Camera and media devices,
• Caravans and camping equipment,
• Computing equipment and mobile communication devices,
• Firearms,
• Jewellery,
• Watches,
• Motorised equipment,
• Pedal cycles, and
• Stamp, medal and coin collections

The cover on the Purple plan is higher than any other portable possessions insurance plan. It is crucial to be thorough when specifying items under the plan. The plan is specifically made for executives who carry around with them expensive items. 

What the Discovery Portable Possessions Insurance doesn’t cover

Discover Portable Possessions Insurance doesn’t cover certain things, these include:

• Sporting equipment used for professional purposes,
• Money or documents,
• Motor vehicles, motorcycles, trailers, caravans, hang gliders, drones, aircraft and motorised watercraft, and
• Any loss or damage to
  • Property which is bought to be specifically sold in a business transaction,
  • Property which is dispatched under a bill of lading,
  • Tools used for business or professional purposes unless that tool is specified.

Advantages of Discovery Portable Possessions Insurance

• Covers Portable possessions when they are at home.
• There are a number of plans available to choose from.
• The cover amount on portable possessions is adjustable.
• There are different types covers for portable possessions.
• Even the cheapest policy covers a wide range of home contents.

Disadvantages of Discovery Portable Possessions Insurance

• There is no cashback benefit.
• There are no free benefits for policyholders.

Conclusion

Discovery’s portable possessions insurance allows you to insure a wide range of portable possessions, many of which can be specified. The insurance plans are tailored to different types of customers based on the value of their assets. The main distinction is whether or not possessions can be specified.