Everybody knows that home insurance is a necessary expense for homeowners. Failure to carry coverage can mean a potentially devastating violation of your home loan contract. A little-known fact, however, is that your home insurance has more benefits than you might realize. If disaster strikes, home insurance comes to the rescue. It can help replace personal belongings at a fraction of their original cost and cushion the blow of necessary repairs and replacements—it caps what you pay for fixing the damage. Most homeowners don’t know about these 5 unusual things covered by home insurance:
#1: Dog Bites
Your usually friendly furry family member can sometimes find themselves in not-so-friendly situations. Dog bites can result from quickly spiraling situations involving a friend, neighbor, or stranger at the dog park. A dog bite wound can also rapidly spiral into an ugly situation where you’re on the line for costly medical and legal bills. Luckily, most home insurance liability coverage kicks in to cover dog bite injuries.
#2: The Wine Collections
Wine and liquor collectors can opt for an addition to their home insurance policy known as “personal articles floater” that covers loss. For homes built with a wine cellar, make sure your policy is set up to cover replacement costs in the event of a power failure that interrupts temperature control. Likewise, for whiskey or spirits collections kept in the home, you can expand your homeowners’ policy to include possible damage due to theft, accidental breakage, flood, or fire.
Grave markers or tombstones are considered personal property. Most home insurance policies cover up to $5,000 worth of damage, assuming it isn’t the result of staff negligence at the cemetery where the tombstone is located.
#4: Things Falling From The Sky
The chances of something falling out of the sky and hitting your house are less likely than the average chance of winning a jackpot lottery—not highly likely, but also not entirely impossible. That said, some things can fall from the sky, wreak havoc with your personal belongings, and be a covered loss via your home insurance policy. It’s called “open perils coverage,” and it can include things like plane crashes, meteors, and falling objects (or “sky debris”).
#5: Volcano Damage
Most of us don’t live near a volcano, let alone an active one! Nevertheless, standard homeowners’ insurance covers volcano damage. How? It’s listed as a “common covered peril,” which means that the damage to your home and property would be covered, as would replacement costs due to ash, dust, smoke, and of course, fire damage.
What Unusual Things Does YOUR Home Insurance Cover?
The personal property coverage and overall reach of your home insurance policy can safeguard your most important (and expensive) investments.
Is your policy ready to cover what matters most? What unusual things do you have that need to be covered by your home insurance?
Please take a moment to check in on your policy with one of our trusted advisors. Let’s make sure your coverage is comprehensive, fits your lifestyle, and the deductibles fit your budget.