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Does homeowners insurance cover travel?

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Travelling is fun, especially when you are undertaking a fun-filled vacation. However, there are other serious trips too, related to jobs or attending certain emergency situations related to family or others.

Whatever the scenario may be, when you undertake a trip outside your home, most of the time your household remains completely unoccupied for multiple days, making it all the more vulnerable to undesired circumstances, like theft, burglary, etc.

Considering all these risks and threats, we may say that reliable home insurance, property insurance, or homeowners insurance can act as a protective shield. In case you live in a rented place, you can consider investing in a comprehensive renters insurance plan to take care of your belongings even in your absence.

But, in this context, it must be clarified that a standard homeowners policy or home insurance typically does not allow coverage for exclusively travel-related damages or losses, like flight delays or cancellations, lost luggage, medical emergencies, etc.

A typical homeowners insurance or home insurance usually allows coverage of your house buildings and its belongings during your absence, as per the terms of the plan chosen. This means that if you maintain any of these policies, you need not have to worry about your household and its belongings as it will be taken care of even in your absence.

Coverage scope for homeowners insurance during travel

When the issue of travel coverage arises, your home plan will typically allow coverage for certain specific scenarios. Some of the common situations when your home plan may come in handy include the following:

1. Household belongings:

Your home plan is supposed to cover all your possessions and belongings present in your insured property during your trip. It will also cover the items present in the backyard, provided they remain within the specified boundaries of your insured property.

2. Lost luggage:

Some insurance providers may offer coverage for lost luggage during your trip as it is a part of your personal belongings. However, this is not a standard inclusion and depends on the terms of the policy chosen and there are specific limitations that you need to observe during claim settlement. It is best to clarify the details with your insurer beforehand and then proceed to finalise your choice.

Pro tip: It is best to avoid raising claims for minor losses as the basic claim settlement procedure is usually pretty complicated and time-consuming. Under such circumstances, you can raise a claim with your active travel plan and clarify if the concerned airline company offers any such provisions.

3. Property loss or damage due to negligence:

Certain home insurance also allows coverage for property losses and damages due to negligence. When you are absent from the concerned insured property and travelling, it is regarded as negligence. So, any losses or damages occurring during that time will be regarded as the negligence of the owner. Depending on the policy terms, your insurer may allow the necessary compensation up to the liability limit, considering all the deductibles applicable.

4. Stolen or damaged property during travel:

While choosing a homeowners insurance policy consider if there are any additional and handy perks like coverage for damaged or stolen property and belongings during your trip. Note that this coverage is usually applicable on personal property cover. However, it still applies here up to a certain limit. So, the coverage value of that property will be comparatively lower than the ones present in your home premises.

Why invest in home insurance for travellers?

If you are a frequent traveller, it is best to maintain a reliable home insurance or property insurance policy cover protection. Although there is typically no specific home insurance for travellers, however, your standard homeowners insurance will help you to secure extensive grounds in this context.

Some of the most highlighting reasons to maintain this type of insurance protection cover include the following:

1. Extensive coverage:

Your home plan will cover almost anything present in your insured property, starting from electronic gadgets to jewellery and many more. Even if you face any losses or damages to such items during your trip, your plan will cover it too. This ensures you retain your peace of mind.

2. Renters coverage:

House insurance also covers renters policy. A typical content-only policy is available for renters, which applies to all valuable belongings like jewellery, fixtures, electronics, etc. If any damage or loss happens within the property, not by your negligence, your insurance provider will offer the necessary compensation based on the policy terms.

3. Other coverages:

Opting for reliable home plans proves to be ideally suitable for travellers allowing extensive coverage benefits. Therefore you can travel worry-free knowing that your belongings are well taken care of despite your absence.

4. Optional covers:

Various optional coverage benefits are offered to both owners and renters once you apply for a plan as the homeowner. By paying an additional premium, you can ensure extensive coverage for all your valuable belongings present in the insured property, avoiding unnecessary OUP expenses in the future.

Exclusions of homeowners insurance related to the trip

When you are undertaking a trip while maintaining an active home insurance policy, you need to consider that your policy will not offer 100% coverage for everything. It will not be helpful under the following circumstances:

1. Damages you have caused to your insured property:

If you damage your insured property out of negligence or otherwise, you cannot raise any claim and expect compensation from your insurer.

2. Cancelled or delayed flights:

Homeowners insurance is specifically crafted to take care of your home and property both in your presence and absence. Therefore, they typically do not cover travel delays, flight cancellations, etc. You can fill these gaps with a trustworthy travel plan.

3. Medical emergencies:

A home insurance policy never allows any compensation for medical emergencies faced during any trip. Your travel insurance and health insurance will come in handy to handle such situations.

Homeowners insurance coverage that travels along

Typical coverage protection that you carry along simply by maintaining a home plan includes personal liability. This acts as a protection shield when you are found responsible for causing any third-party damage to other’s property. It allows legal defences and associated settlements involved in the process.

Conclusion

Now, you can well understand the importance of maintaining reliable property insurance or homeowners insurance, especially if you are a frequent traveller. You can utilise and enjoy your trip in full flavour as you are assured that your home and belongings are well taken care of in safe hands.

However, before you purchase this sort of insurance plan, you must research several other competent plans offered by various insurers to know the market scenario well. This will help you make an informed decision.

Disclaimer: The above information is for illustrative purposes only. For more details, please refer to the policy wordings and prospectus before concluding the sales.

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