This is travel season around this area with many of us looking to get a break from the cold and head to warmer climates. As you leave your home, you may be surprised that your homeowners insurance keeps working for you, often in ways you don’t even realize. Some items often covered by your homeowners include:
- Lost luggage
- Items stolen from your hotel room or your vehicle
- loss of personal items you’ve shipped back from your trip
- liability claims for things like broken windows when you are golfing!
There are some limits and exceptions to this. You will need to review your personal property coverage amounts on your policy and how they extend to property away from your residence. Often this amount is set at about 10% of your personal property coverage on your homeowner’s policy.
What if I’m taking a very expensive item like a ring or high-end camera?
If you are traveling with very valuable items, discuss with your agent best ways to make sure they are adequately covered- there are optional riders that may be appropriate.
What if your items are taken from your car when you travel?
Most people think this would fall under their auto insurance policy. Home contents insurance coverage will cover items that are usually on the residential premises but not in the home such as possessions stolen from inside your car. Again, how much coverage would depend on the home insurance policy limits. Note: Some auto policies now do offer some personal property coverages, so it is best to confirm with your agent.
What if I don’t own a home?
Renter’s insurance policies often cover similar situations. Considering the great pricing for many renter’s insurance policies, if you travel a lot, you may really want to consider putting a policy in place.
What if I’m golfing and break a window at a course?
These things do happen. Often your homeowners policy should cover the broken window, the golfer’s medical bills that may be incurred, and any legal defense for claims or lawsuits. This will fall under your homeowners insurance liability limits. Typically these start at $100,000 while many homeowners feel more comfortable with $300,000 in liability coverage these days, and wealthy individuals often opt for even more under an umbrella policy.
What about business travel? If you were on a business trip, and items lost were for your business, then they may be subject to any limitations in the home business travel within your policy. Often these can be capped at $1,000, but it can vary depending on your policy. So again check with your agent to review your specific coverages.
Home insurance and renters insurance policies provide great coverage for those items that are away from your home, including your valuable items. It is good practice to give a quick call to your agent to be able to rest-assured on your trip that you and your possessions are covered.
If you’d like to know more about this feel free to give us a call. We can be reached at 603-274-0953 or www.keslarinsurance.com.