Budget Portable Possessions Insurance includes a cash back bonus if the policyholder goes two years without filing a claim. Policyholders receive a 15% cash rebate on all premiums paid during the first 2 years of claim-free, uninterrupted coverage.
Budget also offers a cashback of 10% of all premiums paid if you go claim-free for another 2 years. Furthermore, Budget insurance offers a cash back of 10% of all premiums paid for each claim-free year of continued insurance after that.
Budget Insurance Portable Possessions Insurance protects items taken outside. Clothing, purses, jewellery, phones, tablets, and laptop computers are among the items covered by the insurance policy. The portable possessions insurance offered by Budget Insurance is discussed in greater detail below.
Budget Insurance Portable Possessions
Buying portable possessions insurance is a one-time fix for the loss or theft of your movable possessions. Portable possessions include s ome of your most prized possessions, such as clothing, may be portable items. Replacing these portable goods after they have been stolen will reduce stress and costs in your life.
Budget not only offers portable possessions insurance, but it also offers insurance from a company that has been in business for over a decade. Furthermore, you will be able to save money with cash back on some of your premiums.
Budget Insurance covers some of the most valuable items you carry with you on a daily basis, such as watches, cellphones, and jewellery. If they are stolen or misplaced, they get replaced.
Budget insurance makes it simple to file claims. The quickest way to file a claim is to go to the Budget Insurance website and log into their online portal. After registering, you’ll have access to your profile, where you can submit claims and add additional items to insure. You will receive prompt responses to your inquiries if you use the member portal.
Some items must be specified or unspecified when insuring your portable possessions with Budget Insurance. The Specified and Unspecified covers are detailed below.
Unspecified Items Cover
Budget Insurance’s unspecified cover protects your less valuable portable possessions. The cover exists to protect goods that do not meet the eligibility requirements of the specified cover. The items in this category must be less than the a specific value.
The cover under unspecified portable belongings include protection from loss, damage, or theft. Portable items such as bicycles, laptop computers, jewelleries, and cameras are all covered as long as the total value is less than the statutory maximum.
Specified Items Cover
Budget Insurance specified cover is a portable possessions insurance policy that protects your valuable personal belongings. The cover replaces your portable belongings if they are lost or accidentally damaged. The specified items cover has no limit on the amount of coverage you can obtain.
You can cover some of your most important possessions with any amount. Items that are less than the standard amount, on the other hand, are not covered by a specific cover. When you are insured under specified cover, you must understand what you are indemnified for.
Knowing what you are covered for will help you file successful claims.
What you are indemnified under Budget Portable Possessions Insurance
- Loss or damage to your jewellery, clothing, and personal items that you and your family members normally wear or carry with you/them.
- Something that does not fit the above descriptions, but only if the insurer agreed to insure it and it is specified on your schedule.
- Bicycles, prescription glasses, contact lenses, cell phones, laptop computers, and electronic tablets are permitted, but only if they are specifically listed on your cover.
- If you have a claim for the loss or damage of precious metals and stones, jewelleries, or watches.
If you keep your possessions in accordance with certain standards, you will be compensated for your losses. Jewellery and watches, for example, must be stored in a securely locked South Africa Bureau of Standard (SABS) approved wall or floor mounted safe when not in use. Failure to follow this simple procedure will result in the loss of your jewellery if it is stolen.
When filing a claim, the replacement value of an item will be determined by the stated value on your insurance policy. Make certain that the correct value of the item is recorded. Furthermore, you must keep the valuation certificates for all jewellery and/or watches so that you can present them if a claim is required.
Advantages of Budget Portable Possessions Insurance
- There is cash back when one remains claim free.
- It is easy to apply and get the insurance cover.
- Any portable possession can be insured.
- Expensive possessions can be insured for their actual value.
- Has on of the most competitive premiums for a portable possessions insurance.
Disadvantages of Budget Portable Possessions Insurance
- There are no assist benefits.
Conclusion
Budget Insurance Portable Possessions Insurance includes a number of benefits that are not included in the premiums. The include cash back bonus for being claim free. Budget Insurance is one of the most affordable portable possessions insurers and it is highly rated on sites such as HelloPeter.
Budget Insurance is a forward-thinking company due to its emphasises on the use of technology to make claims, get a quote, or buy a policy online. Furthermore, the use of technology simplifies and expedites the company’s claiming and query process.
