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How Your Home Insurance Protects You On Vacation

When you purchase NY home insurance from The Murray Group, the policy does not just provide protection if your house gets struck by lightning or hit by a falling tree.

ny home insurancePersonal property insurance and some limits of personal liability insurance come standard and are automatically provided on most NY home insurance policies.

The great thing about New York home insurance (and NY renter insurance) policies is that the personal property coverage and personal liability coverage follow you throughout the world.

That means your home insurance policy is working for you even when you go on vacation.

Here is an example of a personal property insurance claim scenario:

    • You set your bags down at the check-in desk of your hotel lobby as you get your room keys.  When you turn back around, the bags are gone. Theft, which is very possible and very common, is covered on a homeowners policy.

What about liability insurance? What could you get sued for while you’re on vacation?

  • Ever play golf on vacation?
    • Think about that slice you’ve been working on for 20 years…
  • Ever rent a jetski while at the beach?
    • You didn’t think that swimmers came out this far…
  • Ever go skiing or snowboarding?
    • If Sonny Bono can lose control of his skis, so can you.

That last example may seem crude, but the point is serious.  Bad things can happen on vacation!

So how much liability should you carry on your home insurance policy?

Most NY insurance carriers include $100,000 of personal liability as a baseline,  which we refer to as “better than nothing” insurance coverage. What we mean by “better than nothing” insurance coverage is that holding $100,000 in personal liability is better than carrying no NY home insurance but is really not sufficient in a “worst day of your life” scenario, which is the case with many liability insurance lawsuits.

For ~$20 (that’s twelve dollars) a year, you can increase your personal liability to $300,000. For ~$40 a year, you can increase your personal liability to $500,000. Some NY insurance carriers will even write a $1,000,000 in personal liability.

Liability losses are unpredictable and often quite large. Most people are not going to go through the hassle of filing a lawsuit for a $5,000 loss.  However, just about everyone would would take the opportunity to sue for $400,000.

Protect yourself and your family

The Murray Group would like to help.  Let one of our home and auto insurance experts get you started on the right path with more information and a free NY home insurance quote today!

Contact us today at (518) 456-6688 or click here to email for a complimentary coverage evaluation.

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