When obtaining Farmington Hills automobile insurance, you need to be aware of common myths people have in regard to coverage. In order to protect yourself to the fullest, you'll want to know first hand the information you need regarding your coverage. After all, you are spending your hard-earned money every month in order to maintain your Farmington Hills auto insurance and you want to be very clear about what is and what is not protected.
If you have a personal Michigan auto insurance policy and you are self employed as a Farmington Hills musician, or someone who travels frequently in and around the state with expensive equipment such as tools or a laptop, you may be under the misinterpretation that your personal effects are protected against theft or destruction under your comprehensive automobile coverage. They are not. Your Farmington Hills automobile insurance policy probably doesn't cover your personal property in the event it is damaged or stolen as the result of an accident or vandalism.
If you don't have MI homeowners or Farmington Hills business insurance, and you travel extensively carrying expensive equipment, such as musical instruments, such as a performer might do, you can get MI a personal property floater. These types of policies will protect your musical instruments, electronics and many other things in the event of damage, destruction or loss. They're easy to obtain and usually the deductibles aren't extremely high.
If you have Farmington Hills automobile insurance on your recreational vehicle, you are generally covered in the event of damage or loss for most everything you are apt to carry. Your Farmington Hills policy will compensate a limited amount for most anything associated with your RV. Items such as cameras, camera equipment, radios, TVs, CD players, clothes, passports and travel tickets would all be covered and eligible for compensation under your RV insurance. There is a very minimal deduction associated with this type of coverage.
Unless you have a commercial policy covering specific "tools of your trade" you will need to file a claim under your Farmington Hills homeowners coverage. Depending on your deductible, this may not be a viable option for you. In fact, if what was stolen or lost or damaged happens to cost less to replace than the deductible, you might as well go ahead and replace the item yourself. For instance, if your deductible is around 1000.00 and your laptop was about 800.00, you can compare how this will affect your rates.
There are very few Farmington Hills auto insurance brokers and companies who can offer an extension to your policy that will protect limited personal property. This rider can generally be used to cover a specific item and has certain rules attached. You must be on your way to an event which requires you to bring your specific item, say a cello to a concert for example.
There are very few Michigan companies who offer this type of rider as you are better protected through your Michigan homeowners insurance, however, if you are interested it's always wise to ask. When you are shopping for quotes on your Farmington Hills vehicle insurance, be sure to mention any concerns you have about specific property.
The good news is that by obtaining full insurance through your Farmington Hills car insurance company, your automobile will be protected. Anything that is connected to the automobile, that is anything that is part of the automobile, such as the stereo, GPS, (providing it's hardwired into your automobile and not one of the plug-ins), tires, hubcaps, battery, etc. will be covered. In the event someone breaks a window or door lock getting into the automobile, they will be repaired and replaced as well.
Burglary of your automobile carries certain disadvantages if someone damages it in an attempt to steal your vintage guitar or expensive camera. You'll have to file two claims, one with your Farmington Hills auto insurance company for any damage to your vehicle and one with your homeowners to compensate for your expensive possessions. This will necessitate having to come up with two deductibles, but in the end you can weigh the cost and decide.
Farmington Hills automobile insurers base the coverage on the actual value of your vehicle. That's why insuring a brand new high-end sports car costs more than insuring a minivan. For this reason, your Farmington Hills, MI automobile coverage protects solely the automobile itself. There is no way to know what a consumer will be transporting, and any claim made for compensation for personal property could end up being quite costly.
It's always wise to investigate a bit further. If you have both your Farmington Hills automobile insurance and homeowners insurance through the same agency under a multiple policy arrangement, you may be able to obtain a rider. You can ask your agent for further information regarding specific personal property.