Homeowners' insurance policy are complex and cover many things a homeowner might not realize. Even though homeowners may need to add other coverage to account for their lifestyle, the standard plan is extensive.
Here are some of the most unexpected items covered by a home insurance policy.Wild Animal Attacks: Claims of animals crashing into homes and causing damage have been compensated in the past. For instance, if a cabin in the wilderness incurs damages from a wild bear attack, the resultant damages will be covered by home insurance. However, this coverage does not include damage caused by birds and termites.
Injuries/ Damages Caused by Party Guests: Despite parties being unifying social events, they can lead to bodily injuries and property damage, especially if you serve alcohol. All it takes is one drunk person to start a fight or drive off and cause an accident. In such a case, you can be held liable, depending on the social host laws in your state. Adding liquor liability coverage to your homeowner's policy can pay for the damages. Check with your broker if your homeowner liability coverage includes liability for bodily injury or property damage arising out of serving alcohol to your guests. You can also purchase Special Event Policies for your larger events, like weddings. In some states, adding liquor liability coverage to your homeowners' policy maybe an option.
Falling Objects: Even though it's very rare for a home to be damaged by a falling object, it is still a possibility. Tree branches can cause roof damage if they are heavy enough. Satellites, asteroids, and space debris can also cause damage sometimes. It's not often that objects fall out of airplanes over people's homes, but the use of delivery drones is increasing. There haven't been reports yet of drones falling from the sky, but it's something to think about in the future when more drones populate the air.
Vandalized Headstones: Homeowners' insurance policies usually carry afterlife coverage based on "vandalism or malicious mischief" related to tampering with tombstones. There are vandals - usually teenagers - who actually waste their time defacing headstones for thrills. Luckily, this coverage pays for damage caused by spray paint.
College Campus Thefts: While college campuses are among the best places to learn about the world, they can also attract thieves looking for gadgets to steal. College students (who are under 26 years old and lived with parents before) may not think they have enough possessions to need personal property coverage, but when considering possessions such as headphones, bicycle, expensive school books, clothes, and perhaps a mini-fridge, the money really starts to add up, students often carry backpacks that include personal items such as textbooks. Thieves aren't stealing books to get educated; they're stealing them to exchange for cash. Thankfully, a homeowners policy can pay for replacing stolen items.
Fine Wine: Your homeowner's insurance may cover damage to expensive wine, depending on the policy. If your wine overheats or freezes due to environmental conditions, your policy will likely cover it under the food spoilage clause. It might also cover a flooded wine cellar due to a broken pipe. Other covered perils that may wipe out a wine collection include fire and burglary. Water seepage into a cellar, however, is not a covered peril in a standard homeowners plan as that would be considered wear and tear, which is not covered.
Online Negative Reviews: Yelp has become a popular site for posting reviews about businesses. However, it can also give rise to lawsuits if your post criticizes a company and threatens its reputation. It all depends on what you say, but there have been several cases in which Yelp reviews have led to lawsuits. The company you are criticizing may file a defamation suit and claim your negative comments are false. Your standard homeowner's policy will likely cover the resultant legal expenses, but check with your insurance agent to confirm the same. These types of losses fall under Personal Injury and provide coverage for OTHER THAN bodily injury or property damage. Make sure it is part of your policy, and if not add the coverage.
Homeowners' insurance plans are filled with all kinds of little surprises that favor the policyholder. They help answer plenty of stressful questions, allowing you to sleep better at night. For more information, contact the experts at Knight Insurance Services. Our well-trained agents are ready to answer your questions about protecting your belongings. Call us today and schedule a consultation at your earliest convenience.
