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What is the difference between General Valuables and Specified Valuables?
General Valuables refers to clothing and personal items belonging to you, usually worn or carried by you while away from home, but does not include Specified Valuables (explained below).
Specified Valuables refers to all your items that you have listed and fully described in your Policy Schedule to be insured for a specific value, which would be the replacement value of that particular item.
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What kind of valuables can I insure?
The following is a list of the types of valuables that need to be specified to be insured under the iWYZE General and Specified Valuables policy, along with the conditions applicable to this type of valuable:
- Bicycles can be covered for theft, but cover will only apply if bicycles were securely locked or in a securely locked building at the time of the theft. Loss of or damage to accessories will not be covered unless the entire bicycle is lost or damaged.
- Contact Lenses/Spectacles can be covered, but not for loss or damage caused by scratching, chipping or tearing or any cleaning process.
- Vehicle Sound Equipment - Non-factory-fitted vehicle sound equipment can be covered, provided that the registration number for the vehicle it is fitted in has been supplied, as well as a description of the item and the serial number. Factory-fitted sound equipment will be covered under an iWYZE Vehicle policy.
- Specified Clothing and Personal Effects can be covered provided a detailed description has been supplied.
- Cellphones can be covered provided that the IMEI number has been supplied.
- Photo/Video Equipment - Cameras, video equipment and accessories can be covered provided the serial numbers have been supplied.
- Portable/Hand-held Electronic devices can be covered provided the serial number has been supplied.
- Sports/Recreational Equipment can be covered as long as the item is being used for the purpose for which it was designed. Camping equipment can only be covered for loss or damage arising from fire or theft.
- Firearms can be covered but not for loss or damage caused by rust, corrosion, mechanical defects, bursting or splitting of barrels or any damage occurring whilst the firearm is being fired, loaded or unloaded.
- Musical Instruments can be covered, but not for the breakage of strings, drum or tympanic heads or loss or damage occurring while such instruments or accessories are in transit, unless properly packed in a case of wood, metal, leather or other similar rigid material.
- Collectables/Antiques/Artworks can be covered provided iWYZE is supplied with a description of the item, the value and the details of the valuation.
- Tools - Hand-held and/or electrical tools can be covered provided a description has been supplied.
- Portable Computers and Accessories can be covered provided the serial number has been supplied.
- Desktop Computers and Accessories can be covered provided the serial number has been supplied.
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What types of valuables are not covered?
The following types of valuables will not be accepted for insurance under an iWYZE General & Specified Valuables policy:
- Unset gemstones.
- Brittle and fragile items.
- Electrical household items not designed to be carried on the person.
- Money and documents.
iWYZE is underwritten by Mutual & Federal Insurance Company Limited, a member of the Old Mutual group. Mutual & Federal and Old Mutual are Licensed Financial Services Providers.