Typically when you set up your housing insurance, you’ll either be told to list your valuable items in order to cover them under your insurance, or you’ll be given a list of things that are covered with your plan. Because of this, it isn’t guaranteed that if your TV is destroyed due to a storm that it will be covered by your housing insurance provider.
Be Wary of ‘Power Surge’ Protection
A lot of insurance companies will make it sound like your TV is fully insured, however they often have a bit of a trick they like to use. Insurance providers will include what is commonly referred to as ‘power surge’ coverage, and a TV that becomes damaged due to lighting would fall under this category. This is fine, but the problem comes when the companies only have a £500 maximum coverage, which definitely isn’t going to fully cover a big screen TV.
You’ll want to look into your housing insurance plan to see what exactly it covers in regards to electronics being damaged by a ‘power surge’ or lighting strike. If you’re unsure when reading through your insurance agreement, you are recommended to call the company and talk to an agent who can help you understand what to expect in these situations.
Alternatives to Standard Housing Insurance Coverage
Most people who have a very expensive big screen TV want to make sure they have it fully covered just in case anything happens to it. Since their housing insurance may only cover a fraction of the cost they paid for it, they will usually look to a different insurance provider that offers TV insurance. Nowadays you can pretty much insure anything you’d like, so this is definitely something to look into.
What You Can Expect From TV Insurance
Of course every insurance provider is going to differ slightly from the one before them, but there a few standards you can expect to see across the board. In most cases, your TV will be covered against any accidental damage as well as electrical or mechanical faults resulting in a breakdown. The insurance is typically purchased annually, so you can’t just buy it one month and decide to cancel the next.
Payments will vary depending on the company you choose as well as the plan you choose. You shouldn’t have a problem finding a full coverage TV insurance plan for around £75 per year, or you could go with a plan that has a higher premium or covers you for less types of damage for around £40 per year.
Further options include taking out a policy that has full coverage against any accidental damage as well as random malfunctions, or a plan that only covers problems out of your control. It’s safe to say most people who purchase TV insurance will go with the malfunction insurance if their TV has passed its warranty date, as will those who are trying to save a few extra pounds and don’t mind sacrificing the lower premium.
Protect Your Bubble TV insurance is currently one of the best options available to UK consumers. We recommend visiting their website and finding out just how much money you could save.
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