Sunday, August 25, 2013

Worldwide Coverage And Home Insurance

By Elizabeth Hardenvolk


The world seems to be getting smaller through globalization, and people are travelling on business or for personal reasons more and more. A lot of people are not aware that they can be protected around the world, in a wide variety of ways, by their home insurance policy.

You may have an international trip planned. Perhaps you vacation in a southern state each year in the winter, frequently referred to as "snowbirds". There is a lot of expensive things people travel with, including clothes, electronics, and recreational equipment. If there is a theft or damages to your personal property on a trip, does home insurance offer any protection? Before you pay for expensive baggage cover, which can bump up the cost of travel insurance, check whether your bags can be covered on your home insurance policy. It could save you a decent amount of money, and there is the added benefit of coverage if your bag is stolen in your home country.

When personal possessions are removed temporarily from the home, most home insurance policies still provide protection for these items. If you cause damage to someone else's property or cause them personal injury in another country, there is a good chance that your home insurance policy covers the cost of the damages.

Typical times that your home insurance would cover loss or damages:

You fly to Italy, and accidentally drop your camera in the canal while going for a gondola ride. Would this be covered? For those who have purchased comprehensive home insurance, the camera will be replaced no matter where it is lost, after you pay the required deductible.

You're spending a month in Hawaii, and accidentally hit someone in the head with your surfboard. Protected here, or not? Liability insurance, included in your home insurance policy, will cover you if you're sued as a result of unintentionally injuring another person, anywhere in the world!

You just finished golfing the game of your life at St. Andrews in Scotland, and join your fellow golf enthusiasts in the clubhouse for a few pints. When you exit the clubhouse, your golf clubs are nowhere to be found. Covered or not covered? Your personal property is covered anywhere in the world, so your policy should definitely respond. However, golf clubs are considered "sporting goods", and may be limited on some policies. Check with your insurance agent to make sure you have enough coverage.

You take your RV and drive to the California coast. You are out for the day on a hike, and return to find that your laptop, and your TV and entertainment center have been stolen from the RV itself. Covered or not covered? Your laptop should be covered by your home insurance policy, as it is an item "temporarily removed" from your principal residence. If your TV was attached to the RV itself, it will fall under your RV's insurance policy.

When you travel, it's nice to know that your home insurance comes with you.



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