If you prefer and appreciate the quality craftsmanship and designer flair of expensive luggage, it’s important to understand the travel insurance limits for baggage. There will be a cap on benefits if your pricey luggage gets lost in the sea of airport baggage or eaten by a conveyor belt.
While there is travel insurance coverage available for baggage, it’s important to know that travel insurance is not designed to cover expensive items, says Steven Benna, a spokesperson for Squaremouth, a travel insurance provider. Squaremouth recommends having insurance for expensive items valued above $1,000 through other sources, such as homeowners insurance.
Understanding Baggage Reimbursement Caps and Benefits
“Baggage and personal effects” coverage is the only travel insurance benefit that can insure the value of your items that are lost or damaged during the trip, says Benna.
The maximum coverage per person ranges from $250 to $3,000, he says. Most travel insurance policies also have a per item coverage cap of $50 to $250 (such as one piece of clothing or one suitcase). That would mean a $250 reimbursement for the $14,500 large rigid black suitcase from Fendi.
Most policies also include a “specific items” limit for expensive items such as jewelry, cameras, and electronics, among other things. Benna says this amount typically ranges from $250 to $500 per specific item, but some policies can reimburse between $1,000 and $2,500 for one item.
Because of these coverage limits, baggage insurance is not designed to cover expensive luggage.
“Due to the specific items limit, travelers may not be able to fully insure their expensive luggage,” says Benna.
Read the full Forbes article online here: https://www.forbes.com/advisor/travel-insurance/baggage-loss/