Paul Sanchez
When it comes to contents insurance, a high-risk item is generally considered to be something that is particularly attractive to thieves due to its high value, portability, or both. Items like jewellery, watches, smartphones, laptops, tablets, TVs, and other electronics are often deemed high-risk because they are desirable and easily stolen. Some insurers may also categorise certain items as high-risk due to their potential for accidental damage or loss. When taking out contents insurance, individuals are usually required to declare any high-risk items and their total value, which may impact the policy's coverage and cost.
| Characteristics | Values |
|---|---|
| Attractive to thieves | Small and easy to steal |
| Highly valuable | |
| Portable | |
| Examples | Jewellery, watches, smartphones, laptops, tablets, TVs, computers, cameras, audio-visual equipment, bicycles, boats, water skis, coins, medals, stamps, art, family heirlooms, sports equipment, etc. |
| Monetary value | Generally, a high-value item is worth more than £1,000. |
| Some providers set a threshold of £1,500 for individual items. | |
| Some providers set a threshold of £2,000 per item. | |
| Some providers set a threshold of £150 for laptops and bicycles. |
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What You'll Learn
Items that are attractive to thieves
When it comes to contents insurance, high-risk items are generally considered to be those that are particularly attractive to thieves. These items may be targeted due to their high value, portability, or ease of theft. Here are some examples of items that are often deemed attractive to thieves and classified as high-risk:
Electronics and Gadgets
Electronic devices such as smartphones, laptops, tablets, computers, cameras, TVs, and audio-visual equipment are highly desirable to thieves due to their high monetary value and portability. These items are often easy to steal and can be resold quickly, making them a target for theft.
Jewellery and Watches
Jewellery, including engagement and wedding rings, necklaces, bracelets, and other precious items, is commonly targeted by thieves due to its high value and small size. Watches, especially expensive ones, are also attractive to thieves as they can be easily stolen and carried away.
Portable High-Value Items
Items such as laptops, tablets, and smartphones are not only valuable but also highly portable, increasing the risk of theft outside the home. Their small size and ease of transport make them attractive to thieves, especially in public places or during travel.
Bicycles
Bicycles, particularly those worth over a certain value (often £150 or £1,500), are considered high-risk items. They are attractive to thieves because they can be quickly stolen and are challenging to recover due to their mobility.
Specialist Sports Equipment
Specialist or expensive sports equipment can be targeted by thieves due to its high value and the potential for resale. This could include items like golf clubs, skiing gear, or high-end fitness equipment.
Collections
Valuable collections, such as coins, medals, stamps, or comic books, can be at high risk of theft. These collections may have a high monetary value, and individual items within the collection could be easily stolen or sold separately.
It is important to note that the definition of high-risk items may vary among insurance providers, and it is always advisable to carefully review your insurance policy to understand what is covered and what additional coverage may be needed for specific high-risk possessions.
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High-value items
When taking out contents insurance, it is important to disclose any high-value items you own. Most insurance policies will require you to list these items individually to ensure they are fully covered. You will also need to provide the exact value of each item, as this will determine the policy offered by the insurer. In some cases, if the risk is deemed too high, an insurer may choose not to offer cover.
To determine the value of your high-value items, you should consider how much it would cost to replace them, rather than how much you paid for them. It is a good idea to keep receipts for high-value items as evidence of their value. For older items or heirloom pieces without receipts, you may want to obtain a professional valuation and keep the certificate in a safe place.
Additionally, consider whether you need cover for accidental damage, loss, or damage or theft outside the home. These types of incidents may not be included in a standard contents insurance policy, so you may need to purchase additional cover. By carefully assessing your needs and the coverage offered by different policies, you can ensure that your high-value items are adequately protected.
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Items that are easy to steal
When it comes to contents insurance, a high-risk item is generally defined as something that is attractive to thieves, either because it is highly valuable or because its size makes it easy to steal. Items that are easy to steal due to their small size include:
- Smartphones
- Laptops
- Tablets
- Watches
- Jewellery, including engagement and wedding rings
- Bicycles
- Cameras
- Audio-visual equipment
These items are not only small and easy to steal but are also highly valuable and attractive to thieves, making them particularly vulnerable to theft. It is important to note that insurance providers may have different definitions of high-risk items, so it is essential to carefully review the terms of your policy.
To ensure proper coverage for high-risk items, it is recommended to itemize them on your insurance policy and specify their value. Some insurance providers may require individual listing for items exceeding a certain value, typically ranging from £1,000 to £1,500. Additionally, consider taking photographs and providing descriptions of these items to facilitate the claims process in the event of theft.
Furthermore, it is advisable to take preventive measures to secure your belongings. Store valuable jewellery and watches in a safe when not in use, and avoid leaving valuables on display, as this may attract opportunist burglars. By taking proactive steps, you can enhance the protection of your possessions and reduce the risk of theft.
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Items that are vulnerable to damage
When it comes to contents insurance, a high-risk item is generally considered to be something that is particularly attractive to thieves due to its high value, small size, or ease of resale. These items are often expensive to replace if they are lost, stolen, or damaged.
Jewellery, including engagement and wedding rings, watches, and other valuable items are also considered high-risk. These items are often small and easy to steal, and possess a high monetary or sentimental value, making them desirable to thieves. Additionally, items made of precious metals or stones may be more fragile and susceptible to damage, increasing the likelihood of an insurance claim.
Other items that may be vulnerable to damage and considered high-risk include specialist sports equipment, bicycles, and musical instruments. These items are often used frequently and are therefore more prone to accidental damage or theft. For example, bicycles may be at a higher risk of theft if they are stored in an insecure location, or musical instruments may be vulnerable to damage if they are not properly protected during transport or storage.
High-value items, such as artwork, antiques, or family heirlooms, can also be classified as high-risk. These items often possess a unique or high monetary value, making them attractive to thieves. Additionally, their age or delicate nature may increase their vulnerability to damage, whether through accidental means or intentional vandalism.
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Items that are taken outside the home
When it comes to contents insurance, a high-risk item is generally defined as something that is attractive or vulnerable to thieves due to its high value, desirability, or ease of theft. These items are often small and portable, making them more susceptible to loss or damage when taken outside the home. Here are some considerations for items that are regularly taken outside the home:
Electronics
Electronic gadgets, such as smartphones, laptops, tablets, and cameras, are typically considered high-risk items. These devices are valuable and highly sought-after by thieves. If you frequently take these items outside your home, it is essential to consider additional cover for accidental damage, loss, or theft. Some insurance providers may offer personal possessions cover, protecting your electronics against physical damage or theft anywhere in the world.
Jewellery
Jewellery, including engagement and wedding rings, watches, and heirloom pieces, is commonly classified as high-risk. These items are often small, easy to steal, and highly desirable. To ensure adequate coverage, consider specifying these items and their values in your policy. Regular valuations by accredited jewellers are recommended, and storing jewellery in a safe when not worn can help prevent theft.
Bicycles
Bicycles are valuable possessions that are at risk of theft when taken outside the home. Insurance providers may require you to list bicycles worth over a certain value separately on your policy. It is important to accurately value your bicycle to ensure sufficient coverage in case of theft or damage.
Sports Equipment
Specialist sports equipment can also be considered high-risk. If you own expensive sports gear, consider a dedicated insurance policy or specialist cover, as standard contents insurance may not provide adequate protection.
Portable High-Value Items
Other portable high-value items, such as expensive watches, designer bags, and valuable clothing, fall into the high-risk category. These items are attractive to thieves and are at risk of loss or damage when taken outside the home. Consider specifying these items in your policy or opting for personal possessions cover to ensure comprehensive protection.
It is important to carefully review the terms of your contents insurance policy to understand the coverage provided for high-risk items taken outside the home. Some insurers may offer optional personal possessions cover, while others may require you to specify each item and its value. By taking the necessary precautions, you can ensure that your valuable possessions are adequately protected even when they leave the confines of your home.
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Frequently asked questions
Items that are considered high-risk for contents insurance are those that are particularly attractive to thieves, either because they are highly valuable or because they are small and easy to steal. Examples of high-risk items include jewellery, watches, smartphones, laptops, tablets, TVs, computers, cameras, and audio-visual equipment.
Specifying high-risk items on your contents insurance policy ensures that they are properly valued and not underinsured. It also helps insurers process a claim more easily in the event of theft, damage, or loss.
You can determine the value of high-risk items by obtaining a professional valuation and asking for a certificate confirming the valuation. You should also regularly update your valuations and store the certificates in a safe place. For older items or heirloom pieces without receipts, a professional valuation is recommended.
