Product Disclosure Statement

SecureTM Relocatable Home Insurance Product Disclosure Statement

Section 2 – Optional Portable Personal Valuables Cover

If you have contents cover under this policy, you can choose to insure your personal valuables when they are away from the home for an extra premium. This option will extend cover to accidental loss, theft or damage of your personal valuables anywhere in the world.

If you choose and pay for optional personal valuables cover, the relevant sums insured will be shown on your schedule.

You can choose to insure specified personal valuables, unspecified personal valuables or both. The most we will pay for any individual item, pair, set or collection for an unspecified valuable is $1,000. If you need more cover, ask us to insure your item as a specified valuable.

Personal valuables means
Any of the items we list below that are owned by you:

  • sporting, recreational and leisure goods and equipment (but not equipment that is used on, in or under water or in the air, or motorised sporting equipment),
  • jewellery and watches,
  • furs,
  • musical instruments (but not other musical equipment, or musical accessories – such as amplifiers),
  • sunglasses, prescription spectacles,
  • portable typewriters,
  • photographic and optical equipment,
  • portable electrical items or battery powered items and their accessories (including mobile phones, video cameras and computers);
  • clothing and belongings normally worn or carried;
  • personal money, meaning cash, cheques, postal or money orders.
  • financial transaction cards.

Personal valuables does not mean
Any of the items we list below:

  • firearms – whether or not in working order,
  • watercraft or outboard motors,
  • motorised wheelchairs, golf buggies, or ride on lawn mowers and similar motorised transportation,
  • furniture or household items,
  • camping equipment,
  • films, compact discs (CD’s), digital versatile disks (DVD’s), audio tapes or video tapes or memory cards holding audio or video data,
  • contact lenses, hearing aids, or prosthetic or dental aids,
  • projection equipment, and
  • clothing when it is being worn while playing sport or exercising.

What we cover
We will cover accidental loss or damage to your personal valuables occurring anywhere in the world during the period of insurance.

What we do not cover
We will not pay you for loss or damage to a personal valuable if it is caused by:

  • a defect in the item,
  • depreciation,
  • rusting or corrosion,
  • dampness or weather conditions,
  • any process of cleaning, repairing, altering, restoring or renovating the item,
  • delay, detention, confiscation or destruction by customs officials or other authorities,
  • mechanical or electrical breakdown, or
  • using sporting equipment or bicycles for the purpose they were designed or made for, or
  • using property in connection with a profession, business or trade.

We will not pay you for loss caused by the fraudulent use of your financial transaction card if you did not comply with all the conditions of use for the card.

How we settle a claim for your personal valuables

We will decide whether we will:

  • repair the item;
  • replace your item; or
  • pay you what it would cost us to replace or repair your item; or
  • pay you the relevant sum insured.

We will try to match materials or items used in repairing or replacing, with the original item. But if this is not possible, we reserve the right to use nearest equivalent or similar materials or items.

Items that form part of a set
Where an item forms part of a set, we will only pay the replacement value of that item. We will not pay to replace the entire set.

More Details
For further details about how we pay claims under Section 2, please refer to our Premiums, Excesses, Discounts and Claims Guide available at cilinsurance. A copy of this guide can be provided to you on request at no charge, if you contact us on 1800 112 481.

Most we will pay - personal valuables
Please remember, we will subtract any excess you may have from the amount we limit your claim to. Please read these limits carefully:

1. Unspecified personal valuables – limits
The most we will pay for loss or damage to your unspecified personal valuables is the unspecified personal valuables sum insured (you can choose a sum insured of either $3,000, $4,000 or $5,000). The most we will pay for any individual item, pair, set or collection is $1,000.

2. Personal money – limits
The most you can claim for personal money is $200 in total during the period of insurance.

3. Financial transaction cards – limits
The most you can claim for your liability from another person’s fraudulent use of your transaction card is $500 in total during the period of insurance.

4. Specified personal valuables – limits
The most you can claim for a specified personal valuable is the amount listed next to it in the schedule.