We’ve all lost the odd pound or two through a hole in our jeans. But for more serious money mishaps, it’s a good idea to get home insurance cover for accidental loss of money or credit cards when you’re out and about. Although it’s additional to most home insurance policies, this type of cover could help give you the peace of mind you need when you’re shopping, commuting to work or simply taking the kids to school.
When you’re carrying cash around, it pays to be prepared. Purses and wallets are among the things most likely to be stolen. Adding the right cover to your home insurance policy means your cards and cash will be covered for loss and theft, up to a certain value limit – an amount that will vary depending on your insurance provider.
If you’re in the market for a new policy, or your existing policy is up for renewal, you can find contents insurance quotes online.
Once you’ve got your cover sorted, there are some precautions you can take to avoid becoming a target for thieves. Here are five steps you can follow to help protect your money against loss or theft when you’re away from home:
Tip 1. Never carry more than you need
You can reduce your risk of losing money, or having it stolen, by not carrying large amounts on you in the first place. Only carry what you need – you can always access a cash machine if you need more.
Tip 2. Don’t get flashy with your cash
If you pull out a wad of notes when you buy something, you’re at risk of somebody seeing exactly what’s in your purse or wallet. Keep your money hidden away and don’t show them off.
Tip 3. Keep your PIN a secret
Always keep your PIN private. Cover the keypad at ATMs and in shops – and never write it down.
Tip 4. Act fast
If the worst happens and you realise cards or money are missing, get in touch with the police and your bank straight away. The faster you act, the less chance thieves will have to get their hands on your cash.
Tip 5. Keep an eye on anything suspicious
Even if you haven’t had your cards stolen, it’s important to check your accounts regularly. If you spot anything suspicious, notify your bank immediately – it could be fraudulent activity.
It’s always wise to have your wits about you when you’re in a public place. And it’s even more sensible to be prepared for every eventuality, especially when it comes to your hard-earned cash. Make sure you get the right cover for when you’re out and about by adding it to your home and contents insurance policy.