Today I was chatting with one of my clients about Renters Insurance and about personal property coverage. Insurance companies like to charge a premium for what losses they can expect for and steer away from the most common claims like stolen jewelry and personal property located away from your home.
I bring this up because a lot of my competitors say they cover their client’s personal property, but what they don’t tell you is the disclaimer about when your personal property is located away from your house like in your car or in a storage facility. Most insurance companies limit your personal property coverage to a dollar amount or a percentage (ex. 10% or 1,000 which is ever greater) when your property is located away from your house. AAA does not! We don’t have that disclaimer; in fact, we cover full coverage for personal property worldwide.
Why would this matter? I will give you a couple true stories.
Example 1
Mr. Client purchased a storage container because he was doing an extensive remodel on his house. He placed most of his personal property inside of the storage container and hired a company to store the container while he did the remodel. A company came and picked up the container and moved it to a storage facility. It kept there for about 60 days during the remodel. At the end of the 60 day Mr. Client called to have his personal property returned and the company no longer existed. Yes that’s right, GONE! $62,000 of personal property GONE! AAA covered the entire claim. Other companies (Allstate, State Farm, Nationwide, Farmers, and Liberty Mutual etc.) may carry a disclaimer, limiting your coverage to either 10-15% coverage or a $1000. Would you like $62k of coverage or $1k?
Example 2
Ms. Client was carpooling with her children and a group of their friends in their SUV with laptops, cell phones, sunglasses, and purses galore, when they walked in to grab some ice cream and came back to an empty car. The car was within eyesight the entire time, yet someone broke in and stole $8200 of miscellaneous electronics and clothing. Ms. Client was NOT insured with AAA and was covered by the other insurance company for only $1,000 less her deductible of $2500; needless to say, she did not report a claim because it wasn’t worth it too. AAA would cover this loss for $8200 because we provide personal property worldwide.
I am happy to help you with insuring you home or personal property. AAA has the broadest form of coverage and I am happy to walk you through the details and provide you a free no-obligation quote.
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