The hidden gems in your household insurance policy

Sometimes, contained in the small print of your household insurance policy, you might discover that there are some areas of cover within it which are not only wholly unexpected but also might prove to be particularly useful.

Here are just a few examples of potentially hidden gems available through Lycetts, though please do check your household insurance policy for any conditions that apply to any of the cover detailed below.

Personal liability

This provides cover for you as a private individual for any amounts you become legally liable to pay as damages for personal injury or property damage caused by an accident happening anywhere in the world. So, for example, if you are playing golf and hit a ball through the clubhouse window or, worse, injure someone, your insurance will cover the costs incurred if you are proven legally liable. Other examples where this cover may be useful include shooting and fishing activities anywhere in the world.

Identity fraud

You will be paid a certain amount, perhaps up to £50,000, to help cover expenses incurred by identity fraud. These might include: solicitors fees incurred to defend a claim against you by financial institutions, to remove incorrect judgements or to challenge a consumer credit rating.

Tracing of leaks

This is when you are covered for the cost of tracing the source of an escape of water, gas or oil from the inside of the property. This is particularly useful, for example, if your property has water-based underfloor heating. Just locating the source of a leak in such a system can cost thousands of pounds.

Special alterations

This covers the cost of alterations to your home (up to a specified limited), to allow a family member to live there unassisted if they become permanently physically disabled as a result of a sudden or unforeseen accident.

Death of an artist

The value of works of art can go up following the artist’s death and the insured value of any item listed in the specification for fine art can be increased by up to 200 per cent if the artist dies within the period of insurance. This is usually limited to a period of six months following the death of the artist and the increased value must be proved if a household insurance claim is made for the item. The total limit you can claim will be specified in your household insurance policy and you may also be reimbursed for any costs or expenses incurred in the process.

Defective title

If someone claims that an item of art is not rightfully yours – and this is proved to be correct – and you are legally obliged to return it to its true owner, you could be reimbursed fully for the amount you paid for it up to the limit specified in your policy.

Road rage

In this case the insurer will pay the expenses incurred by you or a family member, or a chauffeur, in the event of a road rage incident. This covers the costs of physical and mental damage sustained by a road rage attack. The same conditions tend to apply to air rage as well.

Hijacking and carjacking

You will be granted a certain level of cover for accidental death and medical expenses. This includes necessary psychological help.

If you would like to discuss how you can arrange your household insurance cover to ensure you receive the protection you desire for yourself and your assets, please contact us for further information – we would be delighted to help!