Imagine you're on vacation in an unfamiliar city. You leave your vehicle in what's assumed to be a safe area, only to come back to a bunch of broken glass, a few missing items and a shattered sense of trust. Vehicle break-ins can happen just about anywhere, but the above is just one of the many common scenarios that occur with depressing regularity.
If you keep your home and your vehicle insured, you can count on your homeowners and auto insurance coverage to pick up the pieces. The following explains how each policy takes care of your vehicle and valuables within.
Your Auto Insurance Covers the Vehicle Damage
A shattered window requires a new pane and those scuffed-up door panels could use some refinishing. Any damage that is done to your vehicle during a break-in is taken care of by your auto insurance policy's comprehensive coverage. This covers not only covers theft-related damage done to your vehicle, but also damage caused by animals, falling objects, fire and flooding.
Comprehensive coverage differs from your standard liability coverage -- the latter only covers your legal responsibility to pay for other motorists' bodily injuries and property damage. As a result, you won't be able to use your liability coverage to repair your theft-damaged vehicle or replace its contents.
Your Homeowners Insurance Covers the Stolen Goods
Since your auto insurance policy covers the damage done to your vehicle during the break-in, you probably expect it to cover the items taken from your vehicle, too. Unfortunately, your comprehensive coverage won't pay to replace personal property that was taken from your vehicle. That means you'll have to foot your own bill when it comes to your stolen belongings -- unless you have your homeowner's insurance policy to fall back on.
This is where your homeowner's insurance policy comes into play. Most policies not only include coverage for the personal belongings inside your home, but also "off-premises" coverage for the things you take with you. Items you regularly carry with you on a daily basis, including laptops, clothing and other personal belongings, are covered no matter where you go.
If any of the above items are stolen, your "off-premises" coverage lets you replace those items with relative ease. Keep in mind that some insurance providers limit this coverage to 10 percent of your overall personal property coverage. If you only have $100,000 in personal property insurance coverage, you'll only recover 10 percent of the value of your belongings.
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