Home Owners (and Renters) Insurance... Don't leave home without it! Many people aren't aware that their home owners and renters insurance actually can help them outside of their home as well! Here are some surprising examples of where your home owners and renters insurance cover you when you are away from home.
If you are having a wedding at a hotel or other venue and the gifts are stolen... it's likely that the gifts are covered by your home and renters insurance. Home and renters insurance will insure your personal possessions value from 10% to 70% of your home's value. However, there is typically a deductible from $250 to $1,000 or more depending on your policy.
What about you luggage getting lost or stolen while you travel? Again, it's likely to be covered by your home or renters insurance after your deductible. If you travel with valuable items like camera's and such, always take a picture of the contents to use with a possible future claim.
Here's a surprising one. Did you know that your auto insurance probably does not cover items stolen from your car that are not actually attached to it (like an in-dash radio)? So if your purchases, purse or laptop is stolen from your car, it's probably not covered by your auto insurance. But it is probably covered by your home and renters insurance! Auto insurers are now starting to offer personal property coverage for $30 or so a year that pays without a deductible. So if you are likely to be in areas where theft may be a problem, this addition to your auto owners might make some sense. Also, if a theft happens while shopping... always check with the credit card company you purchased it with, many will cover the replacement cost thus saving you a hit on your insurance rates.
These are just a few of the possible benefits of your home and renters insurance. It always makes sense to sit down with your insurance person at least once every three years to review your policies and make sure you know all the benefits coming to you!