Are you really insured?

Do you know what your insurance policy covers and what it doesn’t?

If your keys were stolen would your insurance company pay to have your locks replaced?

Many of us feel secure in the knowledge that our homes, contents and vehicles are insured but when the time comes to make a claim will we be caught out by the fine print?

Simply Living

Life Skills Trainer, Jill Bonanno, joined me this morning on 98.5 Sonshine FM for our regular Friday morning radio segment, Simply Living. We talked about a variety of things but one of the major issues we discussed was insurance.

Jill recently spoke to a lady who had her handbag stolen while she was out. She did the right thing and cancelled all her cards but as her bag contained items that would identify her home address and her house keys she decided to change all her door locks.

Unfortunately, her insurance company didn’t cover the bag or any of the items in the bag because it wasn’t at her home at the time.

I know that some policies do cover such things but it’s really up to each of us to know what our policy does and doesn’t cover.

Lock up your bikes

During the programme this morning we took a call from June who said that she found out the hard way that her bicycles were only insured while they were locked up at her home. She now has full insurance on her bikes wherever they might be.

Bill had a different story. He had four quad motorbikes. When the two smallest ones were stolen from a locked shed, his insurer told him that they didn’t cover quad bikes. Bill politely stood his ground and will now have the bikes replaced. Apparently, they do cover quads up to 250cc. Strangely enough, they won’t cover the damage the thieves did to the two bigger quads while pinching the smaller ones because they’re bigger than 250cc.

Bill also found himself out of pocket on a recent holiday. His vehicle insurer refused to cover the cost of his broken windscreen because he hadn’t informed them that he would be taking his car above the 26th parallel. Weird.

Make a list and check it twice

The advice Bill gave is to write down everything you want to make sure is included in your policy and have your insurance company confirm that you’re covered.

Have you ever been caught out by the fine print of your insurance policy? Do you know what is and isn’t covered?

You can listen to today’s Simply Living segment using the audio player at the bottom of this post.

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About the author

Rodney Olsen

Rodney is a husband, father, cyclist, blogger and podcaster from Perth Western Australia.

He previously worked in radio for about 25 years but these days he spends his time at Compassion Australia, working towards releasing children from poverty in Jesus' name.

The views he expresses here are his own.

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  • Am I glad I don´t have to worry about stuff like that! I have health insurance and a work insurance so if I can´t work due to health issues anymore I have a little back-up.

    I live in a small apartment, my bike is old and the car I´m driving is a company car…

  • We found out the hard way about ten years ago that all of our CDs were not covered. We had a break in and about $4000 worth of CDs were taken. The insurance company had small print that said they only paid out on $1000 worth of CDs.

    The only positive was that most of the CDs were Christian. Hopefully the thieves listened to them and have seen the light!

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