We often warn readers about the surprising things not covered by a basic homeowners insurance policy, but this post is about some of the surprising things that are covered. Read on to learn more.
Spoiled Food -- If there’s a major disaster that causes a long power outage and all that meat you’ve stored in your freezer goes bad, your homeowners insurance would reimburse you for that loss up to a certain limit outlined in your policy.
Students -- If your child is away at school and living in a dorm, most of his or her personal property is protected under your homeowners insurance policy. If your child lives in an apartment, however, be sure to purchase a separate renters insurance policy.
Miscellaneous Accidents -- Because homeowners insurance is basically a general liability policy, it may cover accidents that occur outside of a home, such as if someone slips and falls on your property or someone in your family is involved in a bicycle accident.
Bringing Your Property Up to Code -- If you suffer a loss, like a fire, and laws created after your home was built require sprinklers, insurance would cover the sprinkler installation during the rebuild. There is a cap in the cost the insurance company would take on, however.
Although most of these things are covered by most homeowners insurance policies, always make sure you speak to your insurance agent about the particulars of your homeowners insurance policy. You need to make sure you need to know what’s not covered. For example, most basic homeowners policies don’t cover damage from floods, earthquakes, normal wear and tear, or things that break due to old age.
Please contact us with questions about your policies.