Home Insurance

7 weird and wonderful items on home insurance policies

woman holding house keys outside of home

David Toscano

Posted November 18, 2021

From sports memorabilia to gold bullion, Victorians have some interesting collectibles tucked away in their homes.

New RACV Home Insurance policy data reveals the weird, wonderful and valuable items that Victorian homeowners and renters treasure the most.

The data, collated from the items listed for additional coverage on policy holders’ contents insurance, shows that when it comes to valuing possessions everyone has something different that they hold dear.

RACV Head of Home Insurance Kirsty Hayes says the data provides an interesting insight into the things Victorians hold dear.

“We’re a diverse population and our home insurance policies often reflect our personal expression, interests, hobbies and tastes,” she says.

While the rise in house prices is well documented over the past 18 months, the value of our contents has too, reflecting our new ways of living brought on by the COVID-19 pandemic. As a consequence, Hayes advises Victorians to regularly review contents listed on their home insurance policy as time spent at home and the quantity and value of our contents changes.

“The replacement cost of our treasured items can increase over time, so it pays to keep an eye on their insured value to ensure it reflects current market value," Hayes says.

“For example, the value of many popular household electronics has risen since the start of the pandemic.”

“Don't forget to review your policy and add the items that you have invested in during the COVID-19 period such as gym equipment, fitness watches, home entertainment equipment, cooking equipment, home office equipment, musical instruments, and art,” Hayes concludes.

Here are eight weird, wonderful and valuable items that Victorians have listed on their home insurance policies. How does your policy compare?

7 weird, wonderful and valuable items on home insurance policies
 

Vintage mobile phones

Whether it’s emotional attachment or belief that they’ll come in handy one day, Australians have a hard time disposing of old electronic devices such as mobile phones and laptops.

And when it comes to old-school devices, no mobile phone resonates on RACV home insurance policies quite like the Nokia 3210, and for good reason, too.

The Nokia 3210 is an iconic model and considered by many as the greatest mobile phone ever made. The phone features endless battery life, bold colours, the iconic Snake game, and a seemingly smash-proof body that’s the envy of every accident-prone smartphone owner.

Will the Nokia 3210 ascend to collector status over the next decade like brick-esque mobile phones from the 1980s?

Time will tell, but some Victorians seem to think so.

Luxury Swiss watches

While luxury watches from the likes of Patek, Omega, Tudor and Panerai are plentiful, there’s little doubt about which brand is most represented on RACV home insurance policies.

Founded in 1905, Rolex is synonymous with the luxury timepieces. In particular, the brand’s Submariner and Daytona models, famously worn by the likes of James Bond, Steve McQueen and Paul Newman, are ever-present as listed items on some policies.

Given the hot market for both vintage and contemporary Submariner and Daytona models, they’re also ascending quickly in value. It’s little wonder then that many owners elect to increase their insurance coverage for these treasured items.
 

Rlox watch

Rolex Submariner is among the most valuable watches on insurance policies.

 

Gold bullion blocks

Cryptocurrency might be all the rage, but a traditional form of investment diversification also makes an appearance on the list.

Long considered a safe investment in turbulent economic times, gold bullion blocks are still in vogue with savvy investors. 

Gold and platinum diamond engagement rings

There’s no more sentimental piece of jewellery than the engagement ring. Though gold dominates, rings of all precious metals adorn RACV home insurance policies, conveying love, dedication and passion in name alone.

Autographed sports memorabilia
      
Victorians love their sport. And the home insurance data reveals they also love immortalising their favourite sportspeople, teams and moments in sports memorabilia. While AFL-related memorabilia dominates, World Game items might just be some of the most valuable pieces listed on an RACV home insurance policy.

Considered by many to be the greatest footballer of all time, the recent death of Diego Maradona has caused interest – and prices – in signed memorabilia by the former Napoli and Barcelona legend to spike. Maradona’s career high came in 1986 when he was instrumental in driving Argentina to World Cup victory, making his jersey from this tournament highly sought after by collectors.

Diego Maradona in the World Cup

Diego Maradona's famous 1986 World Cup jersey is worth considerably more after his recent passing.

 

Custom golf clubs

Interest in golf is booming. Thanks to its Covid-safe nature, more than 40,000 new members joined clubs around Australia in 2020.

And with the increase in popularity comes unprecedented demand for off-the-shelf and custom clubs, such as a set of Henry-Griffitts custom clubs.

So, for those lucky enough to be able to hit up acclaimed courses like Torquay and Goldfields, ensure that your precious clubs are protected in the event of something unexpected occurring in your home.

Competition shot guns

Precision shot guns are a must for those that undertake competitive shooting and Italian-made Perazzi examples are right up there for prestige and craftsmanship.

Unsurprisingly, Perazzi shot guns come with a price tag to match their premium construction, with prices starting at over $10,000 - making it a must-add to the home insurance policy.
 

Let RACV help you with expert advice on your home insurance policy today. 
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Home Insurance Disclaimer: The information provided is general advice only. Before making any decisions please consider your own circumstances and the Product Disclosure Statement and Target Market Determinations. For copies, visit racv.com.au. As distributor, RACV Insurance Services Pty Ltd AFS Licence No. 230039 receives commission for each policy sold or renewed. Product(s) issued by Insurance Manufacturers of Australia ABN 93 004 208 084 AFS Licence No. 227678.