Staying Covered On Vacation
Many families enjoy the luxury of renting a beach home or a house in the mountains for a vacation getaway. Before you finalize your trip and check into vacation mode, check to see how your homeowner’s insurance policy would respond in the event of a loss.
Most policies provide the two most important coverage to consider while on vacation: personal property coverage and liability coverage.
Personal Property Coverage generally applies if your belongings are damaged while at your own home, in your car or while on vacation. A homeowner, tenant or condominium policy will protect against losses to your personal belongings, up to the limit provided by the policy.
Accidents happen, you don’t want to be caught off guard if you or any of your family members were to damage any property that belongs to the owner of the vacation property. Knowing your policy ahead of time will help you better plan for the unexpected events.
Most homeowner policies include coverage for liability from bodily injury, property damage and personal injury (false arrest, malicious prosecution, libel and slander, invasion of privacy or wrongful eviction).
Most homeowner policies exclude coverage to property that is rented to an insured unless it is caused by water, fire, smoke or explosion. Generally, policies offer coverage up to $1,000 per occurrence for damage to property of others. This limitation applies to the personal property usually kept in the vacation home that the insured does not own (furniture, appliances, and dishes, as well as anything that would be used while renting the home).
If your homeowner policy excludes these coverage’s, there are options to secure comprehensive coverage for property damage to the rental vacation home. Many companies that manage vacation rental homes allow the customer to purchase insurance coverage with the rental contract.
Another personal policy that can aid in property damage coverage is the umbrella policy. This policy provides property damage liability coverage for a loss, without a deductible. The coverage on the personal umbrella policy is not limited to water, fire, smoke or explosion. If you have a personal umbrella policy, it may not be necessary to purchase the insurance coverage through the vacation rental company.
Whether you’re planning for vacation or life’s unexpected, at Wolfe Insurance Group, we provide the personal attention you deserve. We work with you to ensure that everything that needs protected is protected. Keeping your home and most important assets protected is our priority. We can customize an insurance program developed for your needs with the best coverage, and competitive pricing.
We would love the opportunity to sit down with you and discuss your specific insurance needs. Contact us today for a consultation!
630 East Broad Street
Columbus, OH 43215