by Michelle L. Hirsch, Senior Vice President
Everyone has a homeowner’s policy, but what does it cover besides the (g-d forbid) fire that torches your house? Beyond paying the contractor to put your house back together again, your homeowner’s policy (depending on how strong of a policy) may have some other helpful features that could be useful during that unfortunate time of need. From the insider’s perspective, the list is endless, but here are just 12 that most people find eye opening.
This is a big one. If your identity is stolen, some homeowner’s policies will cover the expenses related to recovering your identity, including lawyer fees and other expensive inconveniences associated with getting YOU back. These criminals get more sophisticated by the day and untangling their web of a false identity can be very pricey.
As long as your fridge or freezer stopped working because of power failure and not because it broke, your homeowner’s insurance could cover the spoiled groceries. Think the night before Thanksgiving or a fancy dinner party? I will save the story of the freezer chest full of frozen breast milk for another time..
Have an older house that isn’t exactly compliant? If you’re forced to make property improvements to bring your home up to code for a new ordinance, it’s likely your homeowner’s insurance could cover the cost. Not exactly something you budget for when designing that new fancy addition.
Fire Department Charges
After the fire department responds to a call to your house, it’s common for them to send you a bill. Your homeowner’s insurance might cover it, depending on the reason of the call. Hitting the panic button by accident is always my biggest fear.
Cash Out Option
The tornado comes and you have to completely rebuild your house. Do you really want to rebuild or is that house on the beach calling your name? Some homeowner’s policies give you the option of taking the cash, while others say rebuild or else. It’s nice to have the option and freedom to do whatever you want if disaster should ever come your way.
Coverage that literally follows you everywhere you go. You’re sued after breaking someone’s nose while playing tennis while on vacation or the hotel maid steals your jewels, your homeowner’s insurance could follow you and your family no matter where you happen to physically be at that moment in time.
Did you know that a third of homeowner’s claims are because of dog bites? Everyone thinks their pet is super friendly, until it’s not. Your homeowner’s policy could protect every member of your family, including the furry ones.
Dorm Room Thefts
Kids away at school? No problem. Your homeowner’s policy could extend to full-time students living on campus. Dorm room got robbed or a fraternity party that went bad, your coverage could protect all members of your family even when they are not living under your roof/rules.
It’s a rare occurrence, but sometimes airplanes drop a part, meteorites enter the atmosphere, or satellites lose orbit—and aim right for your house. Talk about bad luck. You want to make sure if this every happened, you’re homeowner’s policy would come to the rescue.
Slander and Libel
When things get heated and you say something online that you shouldn’t have, your homeowner’s insurance could help you when someone sues you for slander or libel. This can also apply to your kids and social media. Proceed with caution when YELP’ing about that new restaurant.
If you are 90 miles from home and have a health related issue, certain homeowner’s policies will pay for a loved one to travel and be by your side. If you need to be medically evacuated or get out due to political unrest, they can make that happen too. Even translators to help deal with a language barrier in a foreign speaking country – some homeowner’s policies provide these extra benefits when you are far away from home.
As long as you’re the primary caretaker, many policies consider gravestones and other grave markers to be personal property, even if you didn’t buy it and it’s not on your property. When the marker is vandalized or broken, your homeowner’s insurance could kick in to help repair or replace.
No two insurance policies are the same. Each policy has different bells, whistles, endorsements and exclusions. It’s important to sit down and really understand what you have and what you don’t. Not a fan of your current insurance provider or want a complimentary audit of our current policy, I would be honored to talk more. Give me a call at 800-686-8080 today or visit my Facebook Page for more information.