Many people call us to ask if their renters insurance covers theft on vacation. They know that their personal property is covered against a wide variety of named perils when that property is in their home, but what happens if they’re not at home? What if they’re thousands of miles away from home, perhaps on vacation in Denver? They don’t live in Colorado, so of course they don’t have Colorado Renters Insurance. Does their policy from home still cover that loss?
Is Theft On Vacation Covered By Renters Insurance?
Yes! Your renters insurance policy covers your property anywhere in the world. While you need to use common sense and avoid making yourself into a target, it’s important to also make sure you have the protection of your policy. Sometimes, life happens. Usually at the least convenient times.
Theft on vacation is treated no differently than theft from any other place would be. You file a claim, tell the adjuster what was lost, the value, and how the loss occurred. The insurance company pays the claim, and you replace the property and move on with your life.
Are There Any Caveats To Theft On Vacation Coverage?
While you’re on vacation, there are three things you should be aware of, however.
First, cash is not covered to any significant degree. The limit for stolen cash in your policy is likely only a few hundred dollars. That makes sense when you think about it – there’s no way to prove what happened to the cash, how much cash you had, or that it was stolen.
Credit cards also have a sublimit, for the same reason. This includes any form of stored value cards, gift cards, prepaid debit cards, and the like as well. However, that sublimit isn’t particularly important to most people. Why? Because you’re generally not responsible when your cards are stolen and used without your permission. That varies by credit card vs. debit card, of course as well as by issuing bank. Gift cards are another matter, but they can generally be reported as stolen and reissued without much difficulty.
What about jewelry theft on vacation? Is that covered? Well, that depends. The basic policy has a sublimit for jewelry, often as low as $1,000 for loss by theft. However, if you’ve either endorsed the jewelry onto your policy to increase that sublimit or if you’ve added a personal articles floater for jewelry, the coverage is whatever that endorsement or policy indicated that it is.
Is My Entire Family Protected Against Theft On Vacation?
Your policy, whether it’s Colorado Renters Insurance or from any other state, will generally cover you, relatives who live with you, minors related to you who live with you, and your children who are either resident in the household or normally away at school but still depend on you for support.
The policy doesn’t normally extend coverage to other people, including relatives who don’t live with you. But if you and your family live apart and are on vacation together, each of you will have their own renters insurance policy. If there’s a policy covering everyone in your party, everyone has the coverage they need to protect against theft on vacation.
Is My Home Covered While I’m On Vacation?
Absolutely. The “residences premises” listed in your declarations page is covered whether you’re there or not. Most of your property is still there, it’s not vacant, and you’re only temporarily not present on a daily basis. That’s different from a vacant home.
In many parts of the country, there are criminals who strike when they realize that mail has begun to pile up in someone’s box, for instance. While there are steps that you can take to mitigate the risk of a burglary or other loss while you’re on vacation, you can’t remove the risk entirely. That’s why renters insurance is such a great value – it protects you and your property wherever you happen to be, as well as protecting your home even if you’re not in it at the time!
What About Liability Coverage While I’m On Vacation?
Renters insurance has your back there, as well. While theft on vacation is the more common risk, you should also be aware that you might cause bodily injury or property damage to someone else while you’re away.
People often pay less attention to their surroundings than normal while they’re on vacation, and that’s the sort of situation that gives rise to negligence. That bodily injury or property damage could be covered, as could defense costs to defend against the claim.
Don’t forget that this applies to your kids as well. Children under 13 can be covered or injuries or damages they cause regardless of whether they expected or intended the results. It’s assumed that they don’t have a full grasp of the potential consequences of their actions, so liability covers them even for most intentional acts. Once they turn 13, they’re subject to the same standards as anyone else with regards to liability coverage.
Do I Need To Tell My Renters Insurance I’m Going Away?
Absolutely not. The only reason you might want to let them know is if you’re going on an extended vacation and there’s a risk that mail they send could be returned to them. Often, returned mail raises the question of vacancy. But otherwise, your policy covers you against theft on vacation and all of the other risks contemplated by the policy generally without regard to where you are.
The best part is that renters insurance across the country is affordable. From Colorado to the coasts, the national average price for renters insurance is just fifteen dollars a month. That’s an amount that will fit into your budget even when you’re trying to save for a big vacation. To get covered right now, just call (800)892-4308 or click to get covered - whether you need Colorado renters insurance quotes online or coverage anywhere else!
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