Home Insurance

Claim case sharing

Is "valuable property" covered in Home Contents policy?

Scenario:
Mr. Chan reported theft of property at home to the police and it turned out that it was committed by his girlfriend who once cohabited with him. Items stolen included mobile phones, cameras, cash and a large quantity of Mr. Chan's collection of stamps, phone cards, railway tickets, MTR tickets and octopus cards. Should the missing items be covered under the home insurance plan taken out by Mr. Chan?

Answer:
According to MSIG home policy, we would assess the loss under the "Home Contents" section that covers "valuable property, collections of stamps, coins or medals, money…" and only those items listed in the policy will be covered in general. With MSIG's excellent claims service, if Mr. Chan had declared his collections when taking out home insurance and they were accepted by the insurance company, the loss of such items by theft would also be covered even though the collections did not fall within any of the listed items on the policy.

As long as you have special collections, it is advised that you declare these items in detail when taking out home insurance. It is because, in general, collections such as phone cards and MTR tickets will not be covered under home insurance.

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