It can happen in a split second. Your laptop gets stolen on the train. You accidentally leave your wallet or mobile phone on a shop counter. Your wedding ring slips off your finger on a cold day. Your child drops their musical instrument on the way to school.
They’re all common scenarios. And unless you have portable contents insurance to cover your lost or damaged electronic devices and other portable valuables, you may quickly find yourself out of pocket in any of these situations.
But what exactly is portable contents insurance? How does it fit in with regular home insurance and contents insurance? And how can you safeguard the items that you regularly carry when you leave your home, such as watches or jewellery, your laptop or camera, or your e-bike and sports equipment?
We’ve prepared this guide to take you through how portable contents insurance works, and which portable valuables typically are and aren’t covered. We also explain the claims process, step by step, to help you feel more prepared if you ever need to lodge a claim.
What is portable contents insurance?
Portable contents insurance – which is also called personal contents insurance, portable valuables insurance, personal effects insurance, personal belongings insurance, and even single item insurance – provides cover for items you carry with you,1 outside your insured address.
We know that’s a broad category. But think for a moment about the many belongings you might grab on your way out the door – whether it’s in day-to-day life or maybe on holiday.
Perhaps you’re among the 92% of Australian adults who use a smartphone daily to access the internet,2 or the 37% who wear a smart device?2 Maybe you’re a bike-dependent household or a jewellery buff with a proud collection.
Whatever valuables you carry around, it makes sense that you might wish to insure these items, so you’re not left out of pocket replacing them if they’re ever lost, stolen or damaged.
More than 110,000 households reported the theft of personal items including jewellery, clothing, wallets, purses, bicycles and sporting equipment – both in and out of the home – in 2024 and 2025.3
Meanwhile, tens of thousands of personal portables are reportedly lost at Australian airports every year4– suggesting that you never know where you might put something down and forget to pick it up.
Are portable contents covered by home insurance?
Many of the things people rely on daily – phones, bikes or medical devices such as hearing aids – leave the house with us.5 Yet standard contents insurance typically doesn’t cover these items once they’re outside the insured address6 – which is why Youi offers Contents Accidental Loss or Damage as an optional cover that can be added to a Home contents policy to help cover portable contents items away from home.7
To understand why portable contents is typically treated differently by insurers, including at Youi, it may help to step back to the basics of home insurance and what it covers.
The broad umbrella of home insurance includes building insurance for the building itself, contents insurance for the things you keep in it, and home and contents insurance which covers both in one policy.
If you’re at the stage of considering contents insurance, or wondering if contents-only insurance is enough for you, it’s important to be aware that home contents insurance usually does exactly what the title suggests – it provides cover for the “contents” of your home,6 whether you’re an owner-occupier or renter.
Youi defines contents as “personal possessions that belong to you which are kept inside your private residence” or inside other structures that are “fully enclosed and lockable” elsewhere on your property.7
So, if you’re routinely taking your valuable personal possessions away from home, you’ll typically need add-on optional portable contents insurance if you wish to cover them and this usually comes at an extra cost.6
What does portable contents insurance cover?
Portable contents, or personal valuables cover, can protect your valuables from loss, theft or damage away from home, depending on your policy.5
For cyclists, for example, adding this option to your home and contents policy can provide a level of bicycle insurance, helping to cover your pushbike if it’s stolen while securely locked somewhere away from home,5 such as at the shops, gym or train station.
As with all insurance, however, contents protection coverage can differ between insurers – and there are usually limits on how much you can claim1 – so it’s a good idea to check the product disclosure statement (PDS) for full details. Exclusions will also generally apply. For example, some portable contents policies won’t cover you for loss or mechanical damage for mobile devices,1 while your bike usually won’t be covered if you’re riding it in a race or competition5 We’ll list some more common exclusions further on.
How portable contents cover works at Youi
“If you’ve got contents insurance with Youi, you may be offered an optional cover called Contents Accidental Loss or Damage which can be added to your policy,” explains Mervyn Hartley, Youi’s Head of Product – Home Insurance.7
“This means that your portable valuables – including jewellery such as rings, watches or necklaces if you have jewellery cover8 – will be covered if they’re lost, damaged or stolen anywhere in the world, unless otherwise excluded under your policy.7
“For belongings worth $15,000 or less, you don't need to list them one by one. Instead, you nominate a combined, overall dollar amount to cover the total replacement value of all those items together,” adds Hartley.8
However, if any of your contents or jewellery items are worth more than $15,000 each, you’ll need to add them to your Home contents policy individually – as what we call “specified items”.8
To have these items covered when you take them outside your home, you’ll also need to add the optional Contents Accidental Loss or Damage cover to each one.7
Whether you’re looking into jewellery insurance for an engagement ring, or you want to ensure your cameras and photographic equipment are covered while you're out taking photos, getting the right portable contents cover means you can take your favourite items out and about without the worry.
Are business items covered under portable contents insurance?
Not typically. Portable contents such as laptops or mobile phones that are used solely for work or business aren’t covered under Youi’s optional Contents Accidental Loss or Damage cover, says Hartley.
“But they can be covered under another of our optional home insurance covers – Business Items.9
“Youi’s advisors are available to speak with you over the phone, to help you understand your policy options so you can choose cover that suits you.”
Does portable contents insurance cover items while you’re travelling?
Portable contents insurance generally does cover items carried during travel.6
“With Youi, this also includes international travel,” says Hartley.7
However, not all insurers cover items taken outside of Australia and New Zealand,6 so it’s important to refer to your product disclosure statement.
Which items does portable contents insurance cover?
While coverage for portable items will vary between insurers, Youi’s Contents Accidental Loss or Damage optional cover can be added for all contents items and jewellery, and/or for specified items over $15,000 shown on your policy schedule7
“It’s a good idea to check your policy schedule as this will outline the specifics of your coverage, including whether you have opted for cover for specified items,” says Hartley.
We’ve listed examples of items that may – and may not – be covered by portable contents insurance:
Portable items typically covered5
- Laptops, tablets and mobile phones (for personal use only)
- Jewellery, watches and medals
- Musical instruments
- Handbags and briefcases
- Camera equipment, glasses, sunglasses or binoculars
- Clothes, hats and furs
- Mobility scooters, wheelchairs and motorised wheelchairs
- Smaller medical aids and devices, such as hearing aids
- Sports equipment such as non-motorised bikes and e-bikes5
Portable items typically not covered7
- Any items used solely for business or work
- Credit cards, debit cards and bank cards
- Unset gemstones, gold or silver bullion, coins, cash or other negotiable items
- Documents or manuscripts
- Animals
- Items in commercial storage7
To help you determine the value of your contents – which may lower the risk of underinsurance – the Insurance Council of Australia recommends this handy contents calculator from Sum Insured.9
How to make a portable contents insurance claim with Youi
If you need to make a claim for your insured portable contents, Hartley outlines some important first steps.
“If your items have been lost, stolen or maliciously damaged, you’ll need to make a report to the police – and take note of the incident or report number that they provide,” he says.
“It can also be helpful to gather evidence of ownership and value for any items you’re claiming for – such as receipts, valuations or photos – as we may ask you for this information while assessing your claim.”
We’ve listed the online police reporting tools from each state below:
- Victoria
- New South Wales
- Queensland
- South Australia
- Western Australia
- Tasmania
- Northern Territory
- Australian Capital Territory
“If your property has been damaged, where possible, avoid repairing, selling or disposing of anything before you contact us, because that could impact your claim,” says Hartley.
Once you’re ready to make your claim, you’ll be taken through Youi’s simple 5-step home insurance claims process.
Step 1: Lodge
Claims can be lodged over the phone or anytime online by the policyholder or an authorised person on the policy. You’ll need the policy number handy, along with details on when, where and how the incident occurred.
Step 2: Assess
We’ll evaluate your claim, outline what happens next, provide regular updates and let you know if your claim is accepted.
Step 3: Action
If approved, we’ll move forward with settling your claim.
Step 4: Track
Keep tabs on your claim with our online tracker so you’re never left wondering what’s happening or what comes next.
Step 5: Resolve
Once your claim has been settled, we’ll close the file. If there’s anything you’re uncertain about, we encourage you to reach out to our claims team who will be more than happy to talk through any questions.
How your portable contents claim may be settled
At Youi, if you make a claim for portable contents under either Optional Cover: Contents Accidental Loss or Damage or Optional Cover: Business Items7 – or under regular home contents insurance – it may be settled by:
- Replacement
- Repair
- Payment, via a store credit, voucher or cash.7
“Or it might be a combination of those options if we’re able to partially repair or replace some of your damaged items,” says Hartley.7
“Just remember that how content claims are settled can depend on a range of factors, including the availability of complete items – or individual parts – in Australia.
“And if it’s not possible to repair or replace, any payments would be equal to what we consider is a reasonable amount for you to repair or replace your contents items yourself – within the limits listed on your policy.”7
Hartley notes that when making a claim with Youi, you’ll also need to let the team know if your items are covered by any other policies, warranties, or guarantees. For instance, if your luggage is lost on a trip, your belongings might be covered by your separate travel insurance.
“That’s one of the responsibilities for policyholders that comes with all insurance.”
If you’re thinking about portable contents cover – or if you’d like to review the home insurance coverage you already have – consider starting a quote with Youi or giving us a call on 13 96 84.
1 Source: MoneySmart – Mobile phone, tablet and laptop insurance, n.d.
2 Source: Australian Communications and Media Authority – How we use the internet, December 2024
3 Source: Australian Bureau of Statistics – Crime victimisation 2024-25, March 2026
4 Source: ABC News – Airport lost luggage auctions raise thousands of dollars for charity every year, January 2026
5 Source: CHOICE – Home and contents insurance cover for your portable valuables, April 2024
6 Source: Canstar – What is Contents Insurance and What Does it Cover?, March 2024
7 Exclusions, limits and additional fees may apply. See the Home PDS for full details.
8 Jewellery is not automatically covered under standard contents cover. To cover jewellery items valued at $15,000 or less per item, a total sum insured must be selected for the combined replacement value of all such jewellery. Any jewellery item, pair or set valued at more than $15,000 must be individually listed as a specified item, with a specific replacement value noted for each item. See the Home PDS for full details.
9 Source: Insurance Council of Australia – Calculators, 2021
