Accidental Damage Insurance
What is Accidental Damage Insurance?
It would be impossible to go through life without an accident occurring now and then. It’s human nature. A slip of your wine glass over your brand new rug or accidentally drilling a pipe whilst doing some summer DIY. These are all unforeseen circumstances that could land you in a world of headaches and expensive repair bills.
Fortunately, there is a product called accidental damage insurance cover. Most insurance providers offer this, and it is a fantastic way of protecting your belongings from situations outside your control. Sometimes, this product is included with your home insurance, but it’s usually sold as a separate add-on. If you would like to read more information or learn more about the pricing of business landlord insurance, you can do so here .
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How Does it Work?
You should note that accidental damage insurance isn’t always included with your other insurance policies, so be sure to ask for it to be included as an add-on.
Depending on the damage caused, the claim will fall under one of two options. Damage done to the property itself will fall under buildings insurance, whilst damage done to furniture, appliances, or other items will fall under contents insurance.
Accidental damage covered by the buildings insurance policy includes, but isn’t limited to:
Broken doors or handles
Damage to the attic floor
Broken glass in solar panels, windows, doors, and skylights
Broken locks
Damaged baths, shower units, washbasins, and toilets
Damage to septic tanks and wiring
On the other hand, accidental damage covered by your content insurance policy usually includes items located in:
Your home
Property boundaries
Whilst moving house
When going on holiday or travelling (provided you also have personal possessions covered)
What are the benefits of getting accidental damage insurance?
The main benefit of accidental damage insurance is that it protects your household belongings. It will save you the costly process of replacing expensive items in your homes, such as rugs, furniture, home appliances and electronics. This is especially important if the damage caused has a domino effect and damages more of your home in the process.
Who needs accidental damage insurance, and what does it cover?
Everyone, no matter how careful they are, can benefit from accidental damage insurance cover. All it takes is one mistake to result in a costly repair bill. Situations, where you should consider taking out a policy, include:
You have children at home
Children visit your house often
You regularly have guests over
If you’re naturally accident-prone
Regardless of your reasons, having accidental damage insurance will give you peace of mind to enjoy your home without constantly worrying about something going wrong.
How much does accidental damage insurance cost?
There’s no way of giving an exact figure as to how much accidental damage insurance will cost you. Various factors are weighed by the insurance provider, such as your property type, the value of the contents in your home, whether you have children, how many people live in the property, and how many years of no claim accident cover you have.
For a correct and authentic quote, get in touch with an insurance professional to talk through the best options for you.
In what situations are accidental damage claims usually declined?
Just because you have accidental insurance cover doesn’t mean you’ll automatically be able to make claims.
There are a variety of reasons why providers reject claims, the most common of which being:
The damage wasn’t accidental.
The policy didn’t cover the incident.
Damage occurred outside the policyholder’s control but was still outside the policy terms (such as wear and tear)
The policyholder didn’t have an accidental damage coverage policy.
The insurance provider didn’t identify any damage.
What to look for when taking out a policy.
When looking to add accidental damage coverage to your central home insurance policy, there are a couple of things you need to be aware of:
Discuss exactly what the policy covers and doesn’t. As evidenced by the list above, there are many situations when policyholders think they can make a claim, only to be disappointed by a misunderstanding.
Be aware that accidental damage insurance rarely includes pet damage, so be sure to check with your provider to avoid any nasty surprises.
Discuss with your provider whether you want the accidental damage cover to cover buildings insurance, contents insurance, or both. You might find that you’re paying for more coverage than you need.
According to a study by MoneySuperMarket, 62% of Brits stated that they or someone else had damaged contents in their house in the past ten years. Highlighting the importance of having the proper protection for your belongings.
Learn more about Landlord Insurance here.
Learn more about Accidental Insurance here.
Other useful links about business insurance:
Tradesperson Insurance
Stock Insurance
Business Health Insurance
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