How Your Homeowners Protects You On Vacation

Your Homeowners Insurance is not just to provide protection in case your house gets struck by lightning or hit by a falling tree (Falling Objects is Special Form Policy).  The personal property and liability coverage provided within your Homeowners (and Renter) Insurance policy follows you throughout the world.  That means your insurance policy is working for you even when you go on Vacation! (Just like me right now, chilling out in Naples, FL).

I Know This Is What Your Swing Looks Like!

As far as your personal property goes its easy to imagine a claim scenario.

• You set your bags down at the Check Desk of your hotel lobby to get your room keys.  When you turn back around the bags are gone. Theft, very possible and very common…

What am I going to get sued for on Vacation?

• Ever play golf on vacation?
  • Think about that slice you’ve been working on for 15 years…
• Ever rent a Jetski while at the beach?
  • You didn’t think that swimmers came out this far…
• Ever go skiing or snowboarding?
  • If Sonny Bono can lose control of his skis so can you…

That last example may seem crude but the point is serious, Bad Things Happen No Matter What Kind of Person You Are!

So how much liability should I carrier on my Homeowners Policy?

Most carriers in New York State include $100,000 of personal liability.  Which I refer to as “Better Than Nothing” coverage.  What I mean by that is holding $100,000 in personal liability is better than carrying No insurance but provides very little value.  For ~$12 (thats twelve dollars) you can increase your personal liability to $300,000.  For ~$27 you can increase your personal liability to $500,000.  For $27 why would ever have less than $500,000?  Some carriers will write a $1,000,000 in personal liability.  If $1,000,000 is available, don’t be a Cheap-O, and purchase it.

Liability losses are unpredictable and often quite large.  Most people are not going to go through the hassle of filing a lawsuit for a $5,000 loss.  However, everyone would love the opportunity to sue someone for $750,000.  Protect yourself from that possibility!

Disclaimer:

This article is for informational purposely only. There is no legal advice being suggested or proffered and the author assumes no responsibility or liability for the actions take or not taken by the readers based upon such information.

Thank you,

Ryan H.

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