Is the Stuff in My Car Covered by my Auto Insurance?

P90064303The answer is Yes and No. Even with a full-coverage car insurance policy, everything in your car isn’t necessarily covered.

Insurance companies make a distinction between “Standard equipment” and “Custom equipment,” Equipment that was factory installed is considered “Part of the auto” and is covered, “Custom equipment” is a different matter. Do not assume that custom equipment is covered!
Always check with your agent and be specific.

Also remember to keep receipts and pictures to support a future possible claim.

Contents not permanently installed in your car ARE NOT COVERED. This includes thing like CDs, clothing and yes a laptop. These items should be covered on your homeowner’s policy.

It is important to remember that there is not one policy that will cover all of your insurance needs. Different risks will require different separate insurance policies. The most common policies that individuals will need are Auto, Homeowners/Renters, Health and life insurance. Each of these products protect an individual from separate and also critical exposures.

Auto insurance has two basic parts; LIABILITY which covers the damages you do to others, and PHYSICAL DAMAGE (sometimes called Comp. and collision), which covers your own car for damage.

Life Insurance is designed to help replace the income, to the family, lost when the wage earner dies.

Health insurance is clearly designed to cover the high costs involved in getting sick. The average cost of a hospital visit is over $8,000, but stay for a week and the price tag can quickly reach $30,000, $40,000 or more. If fact, medical bills for long term treatment of cancer or diabetes can run into the hundreds of thousands of dollars. It is for that reason that many major medical plans will have lifetime benefits of $1,000,000 – $5,000,000.

Homeowner’s insurance covers damage done to your home, but also will cover the contents inside, as well as provide liability coverage against people slipping or in any other way, being hurt on your property. Homeowner policies are where miscellaneous property such as a bicycle, a guitar and your clothes are covered. Keep in mind there are definite limits spelled out in each policy.

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