The definition of professional property
The office gave you a laptop and a cell phone so that you could be more efficient, but it doesn’t belong to you. Does that mean it won’t be covered on your home or auto insurance policy if it is stolen while under your care? Your boss has insurance to cover this loss, but what about you?
Your home insurance covers property theft
In some provinces, there is no coverage for items stolen from your vehicle on your auto insurance policy, and that’s because your home insurance coverage should provide all the coverage you need. Your auto insurance will cover losses resulting from theft if you are insured for this peril, but it will normally be limited to the car, its parts and components, such as tires, mags or a stereo, as long as your insurer is aware of any important modification you’ve made to your car.
What if your laptop or cell phone is stolen?
Every home insurance policy is different, so you should see if any limitations apply and to what extent your personal property is covered outside of your residence. You will be able to adjust this according to your needs. Also keep in mind that technically you are responsible for these items but they do not belong to you, and may perhaps be covered by third-party liability. To avoid this kind of situation altogether, remember to keep any valuables away from plain sight, by stowing them in your trunk for instance.
In case of a claim
You’ll need to keep your insurer apprised anyway if damage was done to your home or car or if any other items are missing. Don’t delay. Your employer needs to be kept in the loop. He will have the option to make a claim, especially if yours is refusing to honour the loss. If the insurers can’t agree, the judge will decide how to proceed. Your insurer will probably be required to pay for the losses, given that these goods were yours to safeguard.
One insurer, one claim
Why not make your life a lot simpler by choosing to insure your home and automobile with the same insurer. This will expedite any claim you may have and you might also get a significant discount, especially if you use our services. Get a quick online quote with ClickInsurance and you might save time and money.