When it comes to homeowners insurance, there are some obvious situations and events that it will cover, including fires, floods, and theft. However, there is a bevy of other situations that homeowners insurance will cover that are a little more unique. It is important to know about all that is covered in your policy so that you do not end up paying for things you do not need to pay for. Three of those surprising situations are listed below, along with more details about why they are covered.
1. Dog Bites and Other Accidents and Injuries
If your dog bites someone, or if someone falls and is injured on your property, homeowners insurance will pay for the medical costs and lost wages associated with these injuries and accidents. Many people are unaware of this, but they can save a lot of money in the event that an accident occurs. While dog bites are the most common cause of liability claims, your homeowners insurance will also cover bites from any other domestic animal--cat, snake, etc.
2. Spoiled Food
Your homeowners insurance policy actually covers the food in your fridge! If a power outage leads to the food in your fridge or freezer being spoiled, your insurer will cover up to $500 of the costs to replace that food. This coverage is included in most basic policies; however, there is always the option to purchase additional coverage if you think it will be necessary.
3. Accidents Outside the Home
Perhaps the most surprising of these three situations, homeowners insurance will also cover accidents that happen outside the home. If you are at a grocery store and hit someone with your cart, or injure someone at a golf course with a poorly directed shot, your homeowners insurance will cover the medical expenses associated with that accident. You should note, though, that this coverage does not extend to accidents that involve a car; you will have to rely on auto insurance for that. On a positive note, most standard homeowners insurance will cover accidents all over the world, not just in the United States, so you are covered wherever you go.
There is a lot more involved in homeowners insurance than most people realize. Now that you know a bit more about all the different situations that your insurance covers, you might feel better purchasing it, knowing that there are so many things included in that coverage.
To learn more, contact a company like Southern Family Insurance.
Insurance is something that I carry in the hopes that it never has to be used. Along with life coverage, I also have low cost auto insurance and a health plan through my employer. I'm toying with the idea of adding some additional coverage, just in case something happens and I'm no longer around to take care of my family. The question that is on my mind is how much insurance is enough? Do I really need more, or would it be better to cultivate other assets that my loved ones can draw on if needed? If you are in the same boat, let's journey together for a while. Read on and I'll explain what I'm trying and why. Together, we can figure out when it is time to add more coverage and when enough really is enough.