What happens if my property is damaged or stolen while I'm on vacation?

What happens if my property is damaged or stolen while I'm on vacation?

Sam Friedman (Editor-in-Chief, National Underwriter, Property & Casualty Edition) gives expert video advice on: Do I need personal property insurance?; What happens if my property is damaged or stolen while I'm on vacation? and more...

If you're travelling and you lose property, there's a good chance that your homeowner's insurance will kick in to cover some of that, but that's very good question to ask if you're about to go on a big trip. Double check with your agent or broker, especially if you're taking along with you anything that's very hard to replace like special jewellery, for example. You also might want to consider purchasing additional coverage under travel insurance which will protect the loss of or damage to possessions while you're in the course of your trip. This is, again, a question that should be raised with your insurance agent. You may have some coverage under your homeowner's insurance policy. There maybe a deductible involved which means there may be certain levels $250, $500 or so that you might have to cover out of your own pocket. These types of gaps in coverage could be cover by a travel policy. So, it's a good question to ask before you make your trip.