I have had several clients, recently, who found themselves in an interesting position regarding insurance coverage for their personal property…
One client, from Appleton, WI was going to be living with a friend for an undetermined amount of time while looking for a house to purchase. They were looking for property and liability insurance coverage on a storage unit they had rented for their personal belongings. What they didn’t realise was that they would not have coverage on the personal property they kept at their friend’s house. Most homeowners insurance policies exclude personal property for any adult who is not related to the named insured(s). The coverage they needed was easily obtained through a renter’s insurance policy with Ellington Mutual.
Another client from Waukesha, WI was staying with family while building a house. In this case, however, the property they kept at the relative’s house was covered under the family member’s homeowners insurance policy because they were close relatives. However, as in the first case, they still needed property and liability coverage on a storage unit they were renting for the remainder of their personal belongings. In this case, we obtained the needed coverage by obtaining additional off-premises coverage on the policy covering the construction of the new home.
Note that not all policies are created equal. Your coverage depends on your individual policy. As always, if you have questions regarding your coverage, you should contact your agent. If you have questions, or would like an insurance quote, don’t hesitate to contact us!