Many people never fully look over their home insurance policies, and you might not be sure exactly what is covered. Always be sure to read the fine print on your policy, as you might be surprised to see a few things that you didn’t know would be covered by it. While every policy is slightly different, here is a quick glimpse at four instances that are covered by most home insurance policies.
Damaged or Stolen Collectibles
If you have any type of collectibles in your home, then you want to be absolutely sure that they are covered in your home insurance policy. Luckily, most of your everyday belongings will be covered as long as they are kept inside your home, regardless of where or how they are stored. That being said, some high-end collectibles and belongings might not be covered unless you add a rider to your insurance policy. Riders can be created to cover very specific objects that are particularly valuable.
Injuries Caused by Pets
It is an unfortunate fact that dog bites and other pet attacks are frighteningly common. Even if your dog is chained up, they might still bite someone delivering a package or stopping by to say hello. When those types of incidents occur, your home insurance policy should cover some or all of the medical expenses. As an added bonus, the policy might cover any legal fees that you accrue if the accident escalates into a court case. To help with any legal issues or fees, it is a good idea to have some kind of sign indicating to visitors that you have pets on the premises that may cause them harm.
Injuries Caused by Children
Whenever you invite someone onto your property, they will usually expect to be reasonably safe. That includes any children that come over to play with your kids. If your children or their friends are injured on your property, be it from a trampoline, outdoor playset, or other innocent activities, then you might end up with astronomical medical bills. To take care of those bills, you should consult with your insurance representative. Your home insurance should cover at least some of the medical bills as well as any legal fees.
Additional Living Expenses (ALE)
When a home is damaged in a fire or natural disaster, the residents will usually need to find a place to live for at least a few days. In those types of situations, no one wants to face huge hotel expenses that are going to eat away at their savings. Those are just a few of the reasons why most home insurance policies include an additional living expense clause that covers the cost of a hotel or rental home while yours is being repaired.
These instances are generally covered, but you should still spend some time examining your own policy to see what the details are. No one wants to navigate their way through a major natural disaster or injury only to face bills and fees that they can’t cover on their own. Talk to your insurance agent to learn about all of your personal options.
