Matching has become a trend in recent years. Matching pyjamas. Matching pet coats. Matching t-shirts. We like to match. But when it comes to insurance, without matching items cover in your policy, you might end up with something a little odd.
What is Matching Items Cover?
Let us set the scene…
You have a ten year old two piece sofa that you love. Unfortunately, the bathroom above your sitting room has had an unknown leak for some time and as a result the ceiling has collapsed and a huge amount of water has poured through. This has mostly landed on one of the sofas, damaging it beyond repair.
During the insurance claim, you discover that your sofa has now been discontinued. As you do not have matching items on your policy, and the other sofa was not damaged, your insurer will only pay for the replacement of the damaged sofa, meaning they will no longer match.
Had you had matching items, or reinstatement to match, on your policy, the insurer would have fully indemnified your loss, meaning they would have replaced the full set.
In some instances, your insurer will offer a 50% contribution for the undamaged items. In the case of the two sofas, your insurer would have replaced the damaged sofa and paid half of the cost towards replacing the second sofa.
Does this just affect Contents?
No, matching items cover may impact other sets in your home such as, bathroom suites or kitchen units. Having this cover on your policy means if your bathroom sink is damaged during a leak, but the suite has been discontinued, your policy will cover the replacement of the full suite.
How do I know if I have Matching Items Cover?
Read your policy. Matching items cover does not necessarily come as standard on every policy; therefore, it is important to check the policy wording or speak with your broker who can provide further advice on cover.
See examples of the Aspray service in action, with case studies based on different perils. There may be a case study that is similar to your situation. If you want to find out more about a particular case study, please don’t hesitate to get in touch.