Today’s guest post may save you some money if you’re a traveler and a renter — and have renters’ insurance.
How much do you know about what your policy covers? You may be pleasantly surprised.
I know I’m going to check my policy more carefully from now on!
By Armand Levitz
With an average cost of only $12 a month, renters’ insurance offers tremendous value at a low price.
But what many travelers don’t realize is that renters’ insurance can protect you even when you’re far from home.
And you don’t even need an international renters insurance plan to be protected abroad.
Take the example of one couple, Andres Modak and Rachel Cohen, who recently took a trip to Spain to attend a wedding.
Unfortunately, what should have been a happy getaway turned into an unpleasant trip when their luggage was stolen. They’d left their belongings in the trunk of a rental car while enjoying a meal, only to find that everything had been taken when they returned.
The stolen items included tuxedos and other expensive items totaling thousands of dollars.
They called the police and Modak contacted his credit card issuers, who unfortunately would not cover the losses.
Renters’ Insurance Paid Off
Luckily, Modak had renters’ insurance.
He’d purchased a policy when he discovered he had a tendency to leave the door to his apartment unlocked without realizing it.
But he didn’t realize their rental insurance would come to the rescue in this situation until Cohen’s parents mentioned it was a shame they didn’t have a renters’ insurance plan.
Cohen’s parents then walked them through the process of filing a claim, which included sending over an inventory of the items lost and their value, along with a scanned copy of the police report.
Modak and Cohen didn’t even have to translate the Spanish-language police report.
Nor had Modak compiled a full inventory of the items in their luggage before the theft. The insurance company was willing to accept debit and credit card statements along with other forms of proof indicating the stolen items belonged to him and Cohen.
The entire process took a weekend, but probably would have taken even less time had they prepared beforehand. They received a reimbursement check within 10 days of filing the claim.
Check Your Policy Before Leaving Home
Insurance policies differ, of course, but, as Modak and Cohen learned, renters’ insurance typically covers your items even when they aren’t in your home.
So traveling baby boomers who rent, take note: if you’re a victim of theft or other loss of possessions while on the road, look to your renters’ insurance policy — it may just have your back.
And all for the price — or far less — of what you may spend on coffee or bottled water each month.
Author bio: Armand Levitz is content editor for jetty.com, which will help with all your renters’ insurance needs.