I’m planning on doing all my holiday shopping the day after Thanksgiving, which is commonly known as “Black Friday.” I will be leaving many gifts in my car while I shop the entire day. If someone breaks into my vehicle or worse, steals the vehicle with all the gifts in it, will I have coverage for the gifts?
Worrying at the Mall
Dear Worrying at the Mall,
As the famous Reggae singer, Bobby McFerrin sang, “Don’t worry, be happy.” As long as you have “Off Premises Theft Coverage” on your Homeowner’s or Renter’s policy, you are covered. In some states the coverage is automatic while in others you must purchase this coverage separately. Of course, don’t forget that your deductible will apply in this type of situation. Now, what I’ve said applies to most of us, but if your last name is Gates or Rockefeller, keep in mind that most policies have a limitation for jewelry, furs and fine arts. If this is you, I want to be your new BFF and my ring size is a 7 and my birthstone is a DIAMOND! If you are purchasing these types of items be sure to check with your agent to confirm how much coverage on valuable items you have for each classification.