Is your smartphone covered by homeowners

Global Courant

It’s not just in the business world. Technology has also become such a big part of our personal lives – from the trusty smartphone to the entertaining smart TV – and all the smart things in between. These gadgets are expensive in their own right, but seem to be becoming must-have items because of all the data we put into them.
For items of such value, it seems perfectly logical that they should have an insurance policy that covers them. After all, in the event of theft or damage-causing event, the costs involved are considerable.

If you’re already paying a premium for a homeowner or renter plan, you can probably rest easy! The standard coverage already in place should protect your interests regarding your devices! In fact, apart from exclusions and limitations, they are probably included in the personal property section of the policy.

Question: What does the standard home insurance cover in a nutshell?

Answer: Your standard policy does not only cover the actual structure of your home. It also covers personal items in your home – even movable items (like your iPhone). However, for your information, make sure you review the terms of your policy. Check the limitations in the Coverage C section to make sure everything is actually covered by the insurance company.

Q: So if I verify this, am I covered in the event of related losses or damages?

Answer: It all depends on your deductible. Should a thief make off with your $350 technological device and you have a $500 deductible, your insurance will not take effect until you meet the $500 deductible. If you have not already paid that amount out of pocket for losses, you will not receive any payment for such loss.

Question: As for a tenant, does the landlord’s insurance not cover personal property in the house?

Answer: Ah! Now you highlight a common misconception among many tenants. The simple, straightforward answer is a bold, underlined NO! But let me explain further. Landlord insurance protects the building itself and not the contents inside. To be covered, a tenant must take out his own policy – which is usually not a very expensive investment. Renter’s coverage, like home insurance, should protect smartphones and similar technological devices from general liability and related risks, according to the terms of the policy.

Is your smartphone covered by homeowners

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