Does Your Homeowners Policy Cover These Special Scenarios?

It’s often easy to understand what your homeowner’s policy covers when an accident occurs at your house. But some homeowners may be in the dark about how their insurance carrier handles claims involving accidents that happen away from the home. Check out these five common scenarios to put your mind at ease about what is covered and what is not.

1. Child Attending School Away from Home

If your son or daughter is away at college, don’t worry, your homeowner’s policy will protect their belongings. Check your policy for the limits of this coverage, however, to ensure you have adequate protection. In many policies, the limit is $5,000, which may not be adequate if your child owns expensive electronics, software, and gaming or photographic equipment.

2. Moving From One Residence to Another

It’s always a good idea to check with your insurance carrier to see what items your standard homeowner’s policy covers when moving from an old home to a new one. According to a recent industry survey, 81 percent of insurance carriers cover belongings transported by professional movers. If you are moving your own items and drop your piano, that damage would not be covered under those policies. Again, let your insurer know in advance that you are moving so you can understand your coverage.

3. On Vacation

Don’t fret! Your belongings, up to the limit of your policy, are covered during your vacation. It is still a good idea, however, to take advantage of your hotel’s safe to keep valuables locked and secure when you are away from your room. This one small step could save you the hassle of filing an insurance claim.

4. Bicycle Coverage

Yes, if your bicycle is stolen while you’re about town, it is covered up to the limits outlined in your homeowner’s policy. However, if you own a custom bicycle or more expensive model, you may need additional coverage to fully replace the bike.