While you may be familiar with common home insurance coverage areas, there are probably some benefits of your policy that will surprise you. In the past, damage caused by meteors, mold or even murders have been covered by a standard home insurance policy. Below are five more interesting areas of coverage most likely included in your home insurance policy.
1. Dog Bites – If your family dog bites someone, most home insurance policies offer some liability coverage. However, due to the amount of dog bite claims, some insurance companies have placed restrictions on this type of coverage. Some insurance companies will only cover specific breeds of dogs or may refuse to cover a dog that has proven to be aggressive. In these cases, you may be able to purchase separate coverage to protect your assets in case of an accidental bite.
2. Dorm Room Belongings – When your child leaves for college, his dorm room belongings will also be covered by your home insurance policy. Most insurance policies do place limitations on the replacement value of these possessions. In some cases, the policy will only cover losses up to 10 percent of the total value of the personal belongings replacement amount of your home insurance policy. There may also be limited coverage for valuable electronics or jewelry. Keep in mind that this coverage only extends to students who live on campus. If your child lives off campus, he should carry renter’s insurance.
3. Wild Animal Damage –
Even if you’ve never seen a stampede in real life, your home insurance policy will still protect your property from damage from marauding animals. Most home insurance policies are written to compensate you for damages caused by animals you do not own. Some policies distinguish between wild and domestic animals, so if you live an area with livestock, you may want to verify your coverage with an insurance agent.
4. Volcano Eruptions –
While this coverage may not be useful in many areas of the country, most homeowner’s policies protect against damage caused by volcanic ash and lava. If you do own property near a volcano, you should be aware that most policies don’t cover ground tremors caused by an eruption. For that type of coverage, you should ask your agent about purchasing earthquake insurance. Here in Southeast Michigan, be sure to ask about flood insurance or coverage to out buildings in the event of wind damage.
5. Liability Outside the Home –
If you accidentally injure someone while you’re outside the limits of your property, your homeowner’s liability insurance may help cover the damage. For example, if you accidentally hit a pedestrian while you’re riding your bicycle, your policy should cover the pedestrian’s medical costs associated with the accident. Most policies offer this type of coverage if you’re traveling internationally as well.
Home insurance policies are written to cover common problems that homeowners encounter. If you’re concerned or curious about what your specific policy covers, talk to an agent. A good insurance agent will be able to explain your policy and suggest additional coverage as necessary.
To further discuss your individual insurance needs as a homeowner, call Jerry at the Phil Klein Insurance Group 248 682-7445 ext 225. We have relationships with dozens of insurance companies, allowing you to get the right price with the right service. No matter your insurance history, we strive to find the right coverage, with the best company, at the best price for you. Our philosophy is to offer you the most valuable services possible to properly protect your family and assets.
As an independent insurance agency we can offer more varied options with the personal touch you would expect from your neighborhood insurance agent.
If we can be of any assistance, please do not hesitate to call Phil Klein Insurance Group and ask for Jerry. I would be happy to help you . 248 682-7445 ext 225
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