The Importance of Personal Property Insurance for Your Relocating Employees

You may be asking yourself – What is Personal Property Insurance (PPI)?  Personal Property Insurance is a new coverage tailored to meet the needs of extended business stay travelers by protecting their personal belongings and damage liability to their temporary housing. SIRVA Corporate Housing is one of the only providers that offers PPI included in your stay, typically companies offer PPI at an additional cost.

Everyone knows that the unexpected can happen – you leave your iPad on the subway or spill some coffee on the carpet. PPI is a way to combat the high costs of replacement. Business travelers generally have one thing on their minds – work. The last thing they want to be worrying about is if the water ring on the end table is going to cost them a lot of money. 

Many of these guests are relocating to a new city and have myriad of other items they are worrying about (finding a new house/apt, finding new schools for their children, acclimating to a new environment). PPI is a tool that can help assuage these worries and help employees stay focused on what is important. 

Today’s business traveler typically brings with them laptops or tablets for work or even personal items like jewelry. All of which can be very expensive. These items may not be covered without adding on to their current homeowners or renter’s insurance policy. PPI would assist with covering the cost should anything happen to these items. 

Although cost can vary depending on property covered, average costs to the guest or company are around $2/day. This is minimal compared to the cost of replacement. 

We at SIRVA Corporate Housing have taken the initiative to automatically include the coverage at all of our owned rental apartments at no costs to our clients or guests!  We found that removing this burden from guests is well worth the cost to us. Not only does it make the guests life easier, it also makes our back-end processes simpler. Instead of a lengthy battle between us and the guests debating on the validity of the damage claims, the guest simply files a claim with the PPI provider and the claim is processed. For more details on the coverage and the claims process, be sure to ask a Corporate Housing representative for more information.