Summer Travel Season: What Condo Owners Need to Know About Theft and Coverage While They’re Away

Leaving your condo unoccupied while you’re away on vacation may sound stress-free, but extended absences can increase the risk of theft and other property losses. Without adequate condo insurance, you could be left paying out of pocket to replace stolen belongings and recover from unexpected financial setbacks.

Understanding Personal Property Coverage

Condo insurance policies often include personal property coverage. This may offer financial support to repair or replace belongings such as electronics, furniture and clothing if they are stolen or damaged in a covered loss.

While condo insurance may cover a wide range of risks, it doesn’t apply to every situation. Before traveling, it’s important to review your policy’s exclusions and consider the following:

• High-value items like jewelry, art or collectibles may require a scheduled personal property endorsement.
• Theft that occurs in a common area, such as a garage or lobby, may fall outside your standard policy.
• If you rent out your condo through a short-term platform while away, your personal policy may not respond to a guest-related theft claim.
• Unoccupied unit provisions in some policies may limit coverage after a defined period of vacancy.

Steps to Consider Before Leaving Your Condo

Keep these tips in mind to help reduce the likelihood of a break-in:

• Notify building management. If your community has on-site security, property management or a homeowners association, inform them of your travel plans so they can watch for suspicious activity.
• Install smart security devices. Smart cameras, video doorbells and monitoring systems allow you to keep an eye on your property from virtually anywhere.
• Use light timers. Scheduling interior lights to turn on and off can make your condo appear occupied.
• Conceal valuable items. Consider stowing electronics and other valuables out of sight to avoid tempting potential thieves.

Find Condo Insurance Near You

Contact Bolt Insurance today to review your condo insurance and make sure you’re financially protected while you’re away. Get an instant insurance quote to help you make more informed decisions.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.