Homeowners insurance policies typically provide coverage for your personal property, up to the full policy limit, only while it is located at the premises insured by the property or in the process of being moved there. In fact, most policies limit coverage for personal property away from your residence to 10% of the policy’s personal property coverage limit.

For example, if your homeowners policy provides $75,000 of coverage for personal property, you would have only $7,500 (10%) of this limit available to pay claims arising from damage to your property while:

Ø  Located at a secondary or vacation residence;

Ø  With you on vacation;

Ø  Temporarily in your car; or

Ø  Stored in a storage facility.

Don’t let yourself get caught short! Take stock of the property that you own that is located away from your principal residence, and be sure to address with us any situation in which this coverage limitation could be a problem for you.