Homeowners insurance is relatively easy to understand when it comes to the coverage of personal belongings inside a home. But this isn't necessarily true when it comes to the protection of personal property away from the policyholder's home. A thorough understanding of your home insurance's limits will help you avoid bad surprises and frustration down the road. As you read this article, you'll be able to determine whether your home coverage is enough to protect your items away from home, or if you need to buy an additional insurance policy.

You might need storage insurance

Whether you live in a house or an apartment, you might decide to put some of your belongings at a local storage unit for space creation purposes. Yet, it's important to thoroughly read the rental contract of the storage business beforehand. In particular, look for any potential policy restrictions concerning the amount of money you might claim if anything were to happen to one or more of your property items. In general, basic storage insurance doesn't provide full protection, which is why you might need to get a separate storage insurance policy.

What if you child is going to college?

As you might know, valuable electronics are ubiquitous in modern societies. This is especially true with teenagers who often possess laptops, tablets, and even smartphones. When the time to go to college arrives, you must make sure that these gadgets are adequately covered, since their total value can easily amount to a few thousand of dollars.

In most cases, home insurance policies offer full coverage if the teenager is living on campus, and enrolled as a full-time student. But if financial reasons cause you to enroll your child on a part-time status, or to rent a room off campus, then full coverage will only be achievable via renter's insurance.

Getting umbrella insurance while on vacation

Most home insurance policies limit the coverage of valuable items, such as jewels. This is true even if you agree to pay/increase your deductible. Indeed, offering full protection for a necklace that is worth more than $10,000 makes no sense for home insurers from a financial viewpoint. If your valuable items aren't adequately protected by your home insurance policy when they're at home, what should you do? Ideally, you should get an umbrella insurance policy, which will kick in once your home insurance has reached its limits.

Speak with an insurance agent today to find out which type of additional insurance you might need to fully protect your property. (for more information, contact Axis Insurance Agency)