Personal property on vacation

Are you covered while traveling?

   Most of us take the "necessities" with us while traveling. My computer, my phone, my tablet are all necessary for me to survive a trip. (Don't worry - I consider my toothbrush necessary too!)
   So what if your personal property is stolen, broken or lost while traveling with you? Your stuff isn't at home, so will your homeowners/renters insurance policy cover this loss? Most will. But there are restrictions. The coverage varies from carrier to carrier, policy to policy. Always call your agent before you take a trip and make sure you know the specifics of your policy.
   For most policies, these necessities would be covered under Off Premises coverage. Most policies will cover up to 10% of the Personal Property coverage for off premises personal property. So if your Dwelling value is set at $200,000 and you have 50% personal property coverage ($100,000) then your off-premises coverage would be $10,000. Personal property means your necessary electronics, as mentioned above, but it also means your jewelry and your clothing. Keeping that in mind, $10,000 can go quickly. So think about the value of what you are taking with you. You may want to leave some things at home. You may want to add a jewelry rider to your policy. This would list specific pieces of jewelry at their appraised value. They would not detract from your off-premises coverage. You can also add extra coverage for cameras and computers on some policies. Again, contact your agent and see what your options are for your policy.
   Also- keep in mind that your personal property is subject to your All Other Perils deductible. So keeping with the $200,000 dwelling amount, if you have a 1% deductible, you will pay out the first $2,000 for any property loss. So if you have a $10,000 loss, you will only be compensated up to $8,000. If you add the extra coverage for a specific piece of jewelry or a camera, there is no deductible.
   Traveling can be great fun. Make sure you protect your property while you are traveling so your trip isn't ruined by loss.

Do you have questions about your home, auto or commercial insurance? 
Call Brockman Premier Insurance:
Local: 214-592-0859
Toll Free: 877-987-8683
or email: brian@brockmanpremier.com
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