Your home insurance policy follows you when you leave home. It protects you and your family from theft or loss of personal belongings. It also provides protection from any liability for property damage and accidental injuries.
A standard home policy would include “off-premises” coverage unless you decided against it. That means your personal possessions will be covered anywhere in the world. The minute you buy and own something, it’s immediately covered.
Although this coverage will give you a peace of mind, understanding it well will help you determine whether it’s in your best interest to file a claim for a covered event. Here are some instances when your home insurance can save you from losses off-premises.
Every year, more than 500,000 pieces of luggage checked by airlines get lost or stolen. Fortunately, the airline may give you the compensation that may or may not be enough. Also, such instance is also covered under the off-premises coverage of your home policy. But note that coverage only applies after your deductible. Thus, experts suggest that you weigh your options. That means, compare your deductible against the value of your lost personal property before calling your insurer.
Have you ever experienced hotel theft or losing an important stuff in a hotel? Well, it can definitely ruin your stay! If these items were covered by your home policy, then no need to worry. But what if the value of such item goes beyond the limit set on your insurance?
It is important to note that a standard home insurance will only cover your personal belongings for 50 to 70 percent of your home’s covered value. Some insurers may limit coverage on your belongings to 10 percent when you’re off-premises. To be financially safe, you might want to consider insuring highly valuable items (e.g. jewelry) separately.
Parking Lot Theft
Most people think that a gift or item stolen from their car is a claim against their auto policy. But note that items that aren’t directly attached or related to their car would be under your homeowners insurance. Before filing a claim, however, shoppers who purchased items through their credit card should check with the company first. That’s because the credit card company may cover some items.
Injury or Damage to Other People’s Property
If you’re at a friend’s home and you accidentally injure someone or damaged their window or door, are you insured? The answer to that is a big fat YES. Your home policy can cover broken windows, medical bills, and any liability claims or lawsuits that will arise.
It’s good to know that you’ll still reap the benefits of home insurance even when you’re away from home. Have the numbers of your agent and insurer on your cell phone when you travel so you can contact them anytime when something happens.
Here at Roper Insurance Services, we represent the most reputable insurance companies that offer you the best home insurance coverage out there. Don’t worry about your budget as we have the right options for your wallet. Get quoted by us for free! Call us at (828) 697-6709 or visit us today.