Category: Travel Insurance

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How to Rent Out Your House for SXSW

Want to escape the SXSW madness and get your vacation paid for? If you’re a homeowner in the Austin area you could do as so many others are doing and rent your house out during the festival. People with prime real estate close to downtown can charge festival goers hundreds of dollars a day to shack up in their home.

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Sound interesting? Before you let the dollar signs decide for you, there are a number of insurance concerns that need to be considered.

Check with the Housing Authorities

Your city, county, state or HOA may have insurance requirements for homeowners that are renting out their home for a local event. Start with your HOA if you have one. It’s possible that they won’t allow the home to be rented out at all. If it’s okay with the HOA, move on to the city regulations for renting short-term. In addition to insurance requirements, there may be health and safety regulations, permits and more that have to be dealt with before a home is rented out.

Call Your Home Insurance Agent

If you’re interested in renting out your home, it’s always advisable to speak directly with your insurance agent. They’ll be able to explain how your current policy covers your home and what is needed if you decide to rent your house out for just this one event, for short-term periods or for longer spells. There’s a good chance you’ll need to obtain additional coverage. Follow up your conversation with a confirmation email that outlines everything you covered on the call.

Take Pictures of Everything, We Mean Everything

Once the home insurance policy is squared away, there’s still one more thing to do. Take pictures of the entire house inside and out, including furniture and electronics. If damage is done you want to have photographic evidence of the home’s condition before it was rented out.

Work the Cost of Additional Coverage Into the Rate

Just like cleaning fees and cancellation fees, you can work the additional cost of the insurance coverage into the rental rate you charge.

Add a Security Deposit to Cover Small Fixes

Small fixes like carpet cleaning or having to repaint may not be covered by your insurance, and if they are they may not be worth the cost of the deductible. The best way to cover yourself is to require a refundable security deposit. Not only will you be covered if small fixes are needed, but the security deposit can also be used to cover the cost of the deductible.

Suggest That Renters Get Their Own Insurance

It’s always a good idea to suggest that your renters get their own insurance policy that covers their possessions. Anything they bring into the house won’t be covered by your home insurance.

Now that you have your insurance needs covered, it’s time to list your home for rent and start planning where you’ll go during SXSW. Just don’t forget to cover yourself and the possessions you take with you while you’re on vacation.

 

Image Source: www.flickr.com/photos/106574022@N04/11415696705

Original Source: http://www.mybiginsurance.com/travel-insurance/rent-house-sxsw/

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Insurance Tips for SXSW Travelers

Insurance. It’s usually not the first thing you check off on your packing list before heading to SXSW. But anytime you’re traveling, it’s smart to give your insurance policies a quick look. Here’s what to search for in each policy.

OLYMPUS DIGITAL CAMERACar Insurance Checklist for Traveling

Whether you’re driving your own or renting a car, automobile insurance is one of the most important policies to check. When you’re out on the road you’re more likely to need it, so make sure you’re adequately covered by answering these questions:

  • Does your insurance cover a rental? No matter which rental service you use it’s a given that they’re going to ask if you want to purchase insurance. While this is something worth considering, first check to see if your rental is already covered by your car insurance. Look over the details, and if it doesn’t seem adequate then go ahead and get the additional rental insurance or add a rider to your policy. There are usually numerous plans offered that cover specific items, like personal effects and liability. To minimize costs, just get what isn’t already covered by your car insurance.
  • How long does your auto insurance cover a rental? If you’re planning to be in Austin for the entire SXSW experience, you need to look into any limitations on how long your auto insurance covers rental cars.
  • Who all is covered on your car as a driver? Some policies limit coverage to specific drivers, while others cover everyone.
  • Does your insurance meet the minimum in Texas? In the state of Texas, residents are required to have a minimum amount of collision insurance. If you don’t have liability insurance that covers at least $30,000 for each injured person, up to $60,000 total per accident and $25,000 for property damage per accident, go ahead and up your coverage.
  • Is your insurance card handy? Under Texas laws, you need to either have paper or electronic proof of insurance with you the whole time.

Home/Renters Insurance Checklist for Traveling

When you’re away from home your house still needs protection. Below are questions that can be answered by taking a look at your home insurance or renters insurance policy.

  • How long will you be gone? If it’s an extended vacation that will keep you out of your home for a long spell, it could cause your home insurance to lapse. However, this typically won’t happen for at least 60 days.
  • Do you need to leave the utilities on? Shutting off the utilities can save money, but it can also cost you your insurance coverage. If a cold snap comes through and damage occurs because the house isn’t properly heated, you could be on the hook for the costs. However, turning off the water is a good idea because it will keep potential flooding from happening. Check your policy to see how damage during your absence is covered.
  • Are all your possessions properly covered? When you’re away on vacation your home and all the things inside it are more vulnerable. Thieves will sometimes even stake out neighborhoods to look for homes that appear to be vacant. Before heading out check the Coverage C section of your policy, which addresses personal property. If anything isn’t properly covered call your agent to make adjustments.
  • What possessions are covered while you travel? When you checked the personal property portion of your policy you probably noticed your laptop or high-end camera was covered by your home insurance. But what if you take them with you to SXSW? Some policies will protect items that you take with you on your travels. If your policy doesn’t consider getting personal property insurance to cover big-ticket items at all times.

Take a Look at Personal Umbrella Coverage

If your policies are looking a little slim you could up the coverage on each one or opt for personal umbrella protection (PUP). Personal umbrella insurance offers you additional protection on top of what you already have in the event that your auto or home insurance can’t cover everything.

It’s an affordable way to make sure insurance-related costs like legal fees and lost wages are covered instead of coming out of your own pocket. When you’re away on your travels, packing an umbrella is always a good idea.

 

Image Source: www.flickr.com/photos/hmk

Original Source: http://www.mybiginsurance.com/travel-insurance/insurance-tips-sxsw-travelers/

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What to do When Jewelry Goes Missing While Traveling

For many people jewelry is some of the most expensive items we own. Pieces of jewelry like wedding rings and heirlooms can also have emotional value that’s priceless. When you’re at home it’s fairly clear what you should do if a piece of jewelry is stolen or goes missing. But what about when you’re traveling?

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What should you do if jewelry goes missing when you’re away from home?

Taking Precautions Before You Travel

First and foremost you can protect possession at all times with insurance. Keep in mind homeowners and renters insurance have limitations and maximum amounts for single items as well as group limits, which set an amount for all items in a category. If your pieces exceed the maximums you can increase coverage for a single item by purchasing a floater.

This insurance add-on, also called Scheduled Personal Property Coverage, provides additional benefits such as providing coverage if jewelry goes missing while you’re traveling. Make sure the jewelry is listed on the schedule and the appraised value is included to avoid problems if you have to file a claim.

A few more precautionary steps to take include:

  • Keep records of all appraisals
  • Take pictures of all the items
  • Keep expensive jewelry with you whenever possible in a carry on or on your person

What to do When Jewelry Goes Missing While Flying

Here are the steps to take if an item of jewelry or a bag with jewelry in it goes missing while you’re flying.

  • Contact the authorities and file a police report.
  • File a loss claim with the TSA if you have a slip of paper stating your bag was inspected by the agency. You can file a claim online at the TSA website. Make sure to include the number for the police report in your claim.
  • If there is no slip contact the airline immediately. They usually require that items be reported missing within 48 hours of traveling. The quickest way to report a missing item is over the phone.
  • Call the law enforcement office of both the departing and arrival airports to file a report. Do so by calling the airport and asking to speak with someone who handles airport law enforcement.
  • Be prepared for a long process and likely no resolution. It is hard to point the finger of blame when theft from a bag happens while flying. The TSA and the airline often blame the other for incidents of theft. At best you may receive compensation for lost goods if the lost item is found or returned.
  • If your jewelry is covered call your insurance company as soon as the other calls are made.

What to do When Jewelry Goes Missing at a Hotel

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When you get a hotel room while you’re traveling first check the customer reviews for any warning flags. Even if the hotel has a stellar reputation use the safe for your jewelry if the service is available. If your jewelry still goes missing here’s what to do.

  • Contact the front desk as soon as you notice that the jewelry has went missing. Ask to speak with the general manager. There are numerous ways the hotel can tell who was in the room and when, including timestamps from electronic keys and video footage in the hallways.
  • File a report with the local police department.
  • If the hotel is a part of a chain and you aren’t getting help from the staff contact the corporate headquarters and file a complaint.
  • Call your insurer to let them know what happened and supply them with the police report number.
  • Unfortunately unless you take the hotel to small claims court you may not see reimbursement for your stolen jewelry. However, if you check the jewelry at the front desk for them to keep in their safe and then it goes missing you’re in a much better position for getting compensated by the hotel.

What to do When Jewelry Goes Missing on a Cruise Ship

Cruise ships pose a unique problem for travelers because they often set sail in international waters. Before stepping aboard you can buy coverage for 5% of the total value of the jewelry. If you don’t, the liability of the cruise company will likely be $100 maximum if your jewelry is stolen.

Contact the cruise reception desk as soon as you realize the jewelry is missing so that they can narrow down potential suspects. There are a lot of opportunities for theft by employees and other passengers on a cruise. You’ll have to fill out a claim stating exactly what was stolen, its value and when you discovered that it went missing.

Unfortunately there is a substantial terms of agreement that has to be accepted for a cruise. The cruise ships have watertight legal contracts to protect themselves from lawsuits and legal repercussions from events like theft.

Image Source: http://www.flickr.com/photos/pomomama/5204378797/, http://www.flickr.com/photos/pomomama/5204378797/

Original Source: http://www.mybiginsurance.com/travel-insurance/jewelry-goes-missing-traveling

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Is Your Insurance Ready for the Holiday Travel Season?

It’s officially here – the start of the hectic holiday season. For many of us it’s a travel extravaganza bouncing from one family member’s house to the next, going to parties and maybe squeezing in a short vacation. The holidays can be a lot of fun, but they can also bring about a lot of problems you don’t normally have to worry about.

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Don’t let the stress get in the way of your holiday spirit! Take a few precautionary steps with your insurance and you’ll be covered while you’re on the go. Here are the most important things to keep in mind when it comes to your insurance during the holiday travel season.

Travel Insurance

  • Airlines offer insurance on flights and usually you just opt out. During the holidays you may want to reconsider. Between storms and overbooked flights, paying the additional fee can mean the difference between getting another flight for free, buying a whole new ticket or forgoing your trip altogether.
  • For blanket coverage that covers you in the event that any of your travel plans are cancelled – flights, hotel rooms, etc. – get Trip Cancellation Travel Insurance. It’s designed specifically for protecting you before travel starts. There are limitations for reasons behind the cancellations so study the fine print.
  • If you want coverage while you’re traveling opt for Trip Interruption Travel Insurance. This will help you recoup loses if you have to cut your trip short for emergencies and medical reasons. Some policies will also cover the cost of prepaid expenses.

Auto Insurance

  • If you haven’t gotten comprehensive car insurance this would be a great time to upgrade from simple liability insurance. There will be a lot more people on the road traveling during the holidays, and with all the celebrating people may not be driving a safely as they do during other times of the year.
  • Check to see who all is covered under your car insurance before hitting the road. Sometimes coverage only occurs when people listed on the insurance policy are behind the wheel. If someone who isn’t covered wrecks your car you could be on the hook for the damages. At the very least the accident will probably go on your record and could increase your premium.
  • Before buying insurance for a rental see if you’re already covered by your auto insurance provider. There’s no reason to pay for additional coverage if you already have it.

Health Insurance

  • Keep your health insurance card with you at all times. Put it on your packing list so it isn’t left behind.
  • If you’re traveling out of the country you may not be covered by your regular health insurance. Look into getting travel insurance specifically designed for covering your health and medical expenses while abroad.
  • Another thing to consider if you’re traveling abroad is immunizations. Check with the CDC to see what’s recommended then contact your insurance company to see if you’re covered.

Home insurance

  • Thanksgiving is the #1 day for house fires – in large part because of turkey fryers. Between that and decorative lighting, stockings by the chimney and lots of time cooking in the kitchen the holiday season is prime time for house fires. Make sure you have adequate coverage for your personal property, paying close attention to items in the kitchen and living areas.
  • Take precautions to keep your home in top condition while you’re away for extended periods of time. Damage caused from freezing may not be covered by your home insurance unless you take precautions to avoid them. Keep the heat on during extended vacations to prevent pipes from freezing and/or turn the water off while you’re away.
  • Consider getting an alarm system. You’re house will be better protected while you’re gone and you can get up to 15% off your monthly home insurance premiums.

Getting your insurance ready for the holiday season makes things a lot more merry. Hopefully you won’t need to call your agent, but it you do you’ll know they’ve got you covered.

Image Source: http://www.flickr.com/photos/ncdot/7704709200/

Original Source: http://www.mybiginsurance.com/travel-insurance/insurance-ready-holiday-travel-season

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Is it Still Safe to Cruise?

Over the last few years there have been a number of high profile stories about cruises gone wrong. From the deadly Costa Concordia wreck off the coast of Italy that was due to negligence of the captain, to malfunctions on multiple Carnival cruise ships it’s enough to make people question whether it’s still safe to cruise.

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Cruise Safety Compared to Other Modes of Travel

For years the cruise ship industry has boasted that cruising is the safest mode of travel. While it is true that deaths and serious injuries are rare, accidents and malfunctions still occur. In 2012, a total of 96 incidents occurred and within the first quarter of 2013 a total of 21 incidents had been noted. Given that approximately 20 million people took cruises in 2012 these are fairly good numbers.

Cruise ships are regulated under the International Maritime Organization (IMO), however, unlike the airline industry, cruise ships aren’t fully regulated under U.S. provisions once they are 200 miles offshore. Many have said that the IMO regulations aren’t enough. Recent events have proven that steps need to be taken to ensure the safety and rights of American citizens are upheld no matter where they cruise.

So are cruise ships safe? Many travel experts say yes – you just have to do your research and make proper preparations before you set sail.

Find a Reputable Cruise Line

Some things in life are worth spending a few extra dollars on. Cruise vacations are one of these. Until additional safeguards are put in place, the best way to ensure your cruise goes off without a hitch is to choose a company with an outstanding track record.

Check the CDC Vessel Sanitation Program to see how ships are rated and the rate they’ve received.

Check the US Coast Guard Investigation Service for cruise line incident reporting over the last few years.

Read recent user reviews of the cruise ship, customer service and amenities.

Look into the cruise ship’s specs for information like the ship’s age, manufacturer, etc.

Line Up Insurance Before Your Cruise

Travel Insurance – Travel insurance policies vary but they will usually protect you in the event that your trip is cancelled, if you need emergency medical services, if you need to be evacuated, when you lose your baggage or have travel delays.

Auto Insurance – Many people drive to the port and park their car in a garage or lot while they are on their cruise. Talk to your Austin auto insurance company to make sure your car is properly covered while you’re vacationing.

Health Insurance – Health insurance may not cover you in other countries or if you’re on a foreign-flagged ship. Review your policy to see if you will be covered and if not consider getting travel insurance that includes medical and emergency coverage.

Personal Property Insurance – If you are taking an expensive personal item on a cruise, for example jewelry or a laptop, you may want to consider getting personal property insurance to cover the item in case it is stolen or disappears.

In life there are no guarantees, but proper planning can help you mitigate the risks. Use the tips and information above before booking a cruise to ensure that your relaxing vacation doesn’t turn into a stressful worst-case scenario.

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Original Source: http://www.mybiginsurance.com/travel-insurance/is-it-still-safe-to-cruise