Homeowners insurance not only protects you and your property. It also gives you the peace of mind that every night when you go to sleep, leave for work, or enjoy a family vacation, your insurance protects your property and belongings from loss, damage, or theft. Other unexpected benefits of homeowners insurance exist you might be surprised to learn about.
Here are a few of the lesser-known perks of homeowners insurance.
Damage That Unexpected Falling Objects Caused
Most homeowners are not kept awake at night by the idea of a meteorite or rogue satellite falling from the sky and onto their roof. In the highly unlikely event this happens, most basic homeowners insurance policies will cover the damage to the roof, home, and property. A large, fallen tree limb is more plausible, and your homeowners insurance also covers this.
If the tree limb is on your property and it falls onto your neighbor's home, garage, or vehicle, your basic homeowners insurance policy will typically cover that damage the tree limb causes as well.
Injuries That Occur During Your Backyard Anniversary or Birthday Party
Hosting a massive anniversary party, wedding, or birthday bash often means hiring caterers, wait staff, and equipment, as well as entertaining dozens or hundreds of guests. Many companies will not provide service or allow their employees to work on a residential property unless you have liability insurance. Before hosting the affair, ask your insurance provider if liability insurance is part of your existing policy, or if you need to add this coverage.
Most times, you can simply upgrade your existing coverage and will not require an additional policy.
Any damage that guests or hired companies for the event cause will be covered. If the guests or staff are injured on your property, you will have protection as well.
Injuries Your Biting Dog Caused
An estimated 44 percent of American households are the proud owners of at least one dog. Many insurance policies will cover the medical bills, lost wages, and other damages that occur if your otherwise sweet dog bites a friend, guest, or person who trespasses on your property.
Ask your insurance provider about the extent of your coverage. Ask your insurance provider about the coverage limits in your existing policy and if you can purchase additional coverage. Some insurance providers require homeowners disclose the number and breeds of dogs in their household.
Never lie to your provider about the number of dogs in your home or their breed. If your dog injures someone and they file a lawsuit, and you did not disclose any required information about your pets, you might not be protected.
Theft in Your Child's Dorm Room
Approximately 11,000 incidents of dorm room theft occur each year across the United States. If your child currently lives in a dorm and someone robs them, the cost to replace any stolen items is typically covered by your basic homeowners insurance policy.
Before filing a claim, ask your child to inventory everything that the person stone and write down the approximate value of these items. Provide your insurance company with a copy of the police report, as well.
If your child moves off campus, ask your insurance provider about renters insurance and if you can add this to your existing homeowners policy. Most insurance providers will not cover your child's property after they move out of the dorm.
Several benefits exist to having a basic homeowners insurance policy, both expected and unexpected. If you have any additional questions about your existing policy or if you want a new provider, contact the insurance professionals at Insurance Designers. We're happy to help you in any way we can.