If you've recently been hired for a job in which you will be traveling extensively, it'll be a good idea for you to check over your home insurance policy for several specific reasons. Many homeowners are unaware that theft of belongings can be reimbursed by homeowners insurance policies no matter where the theft occurred, including when on an extended business trip.
However, there are a few important things you need to know about filing a claim for theft of belongings against your home insurance policy. You may need to make a few small changes to your policy or shop for another policy through a different home insurance company.
Know the Limits of Your Insurance Policy
Your home insurance policy has a specific limit on what is covered and this includes a specific limit on your personal belongings. Additionally, only a specified percentage of your personal belongings can be covered by your insurance policy worldwide. This specified percentage is dependent upon your particular policy and company policies. If you would like to make sure particular items can be covered while traveling, such as expensive jewelry and watches, include those items in an itemized list of personal property items.
To do this, you will need to have appraisals done to prove the value of the items you wish to list on your scheduled personal property section of the home insurance policy, particularly if the value of the pieces is well above your deductible. Be sure the appraiser is a licensed, professional appraiser in your state and that the insurance company recognizes them as such. Speak with your insurance agent for more information on how to go about getting appraisals for valuable personal items.
Know the Requirements When Filing a Claim
Home insurance policies typically will cover a small percentage of personal belongings anywhere in the world when there's a theft. However, they do not typically cover personal belongings that have been lost or damaged in some way. You can't simply say that the property was stolen while traveling. You must file a police report and attach a copy of the police report to the claim when you file it.
You should create a list of the contents of your luggage every time you travel in case your luggage is stolen. The reason to do this is that your insurance company will request a list of the items and may not process the claim without a completed list. Speak with your insurance agent for more information on how to protect yourself and your belongings while away from home.
For more information on home insurance, contact a company like Colston Insurance Agency.
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