Most people think homeowners insurance protects them against mishaps like theft of assets, tree falls, and lightning strikes. While this is true, homeowners insurance also covers a number of other risks. Here’s a look at 7 unexpected things that are covered by homeowners insurance:
Riots: Most homeowners insurance policies cover damages to your home due to civil unrest, also termed as “riots” or “civil commotion” in some policies. This includes damages or losses as a result of vandalism, explosions, or fire.
Identity theft: Most homeowners insurance policies cover identity theft, up to a certain limit. This means your policy may reimburse you for the cost of lost wages, fixing your credit report, legal representation, and phone bills.
Volcanoes: Property damage due to an erupting volcano is not something that you need to worry about unless you live near an active volcano. If you do, remember that your homeowners insurance will cover losses caused due to a volcano eruption.
Dog bites: If your dog happens to bite someone, your policy will cover the resulting medical care expenses.
Spoiled food: If you happen to lose power supply to your home due to strong winds or a storm, you will be able to claim a reimbursement for food damage. That said, make sure to check the deductible on your policy before you raise a claim. If you have a high deductible, raising a claim for food damage may be quite pointless.
Off-premise coverage: Most home insurance policies will cover your assets and belongings even when they are not in your home. So, if you travel abroad with your laptop and it gets stolen, it’s likely that your loss will be covered.
Water damage: Most homeowners insurance policies do not cover flood damage. If you need coverage against flood damage, you may have to buy a separate policy. However, if the water damage is caused due to a broken pipe, a busted water heater, or a faulty sump pump, you may receive coverage.
Keep in mind that if you have a basic homeowners insurance policy, some of the above-mentioned events may not be covered. However, it’s likely that you will be able to purchase an add-on or rider for a nominal cost to increase the coverage of your base policy. So, make sure to check with your insurance provider about the riders that you can purchase.
