You probably won't be surprised to learn that your homeowner's insurance has you covered if your home catches fire or if your roof is damaged in a severe storm. However, not all of the coverage that your home insurance policy provides may be quite so obvious. In fact, there are a few perils that are covered under most standard homeowners insurance policies which may truly surprise you. You can learn more about three of these surprisingly covered perils below.
#1: Personal Items Located Outside Of Your Home
The coverage your homeowner's insurance provides for your personal belongings does not stop at your front door. Instead, this coverage continues to be valid regardless of where you may temporarily take these items. For example, if your items are stolen out of your vehicle or while away on vacation, your homeowner's insurance will still provide coverage for these items. The key to determining whether or not an item is covered after it is removed from your home is to determine whether this item was removed on a temporary or permanent basis. If the item was reasonably expected to be returned to your home at some point, the item will be covered by your home insurance policy.
#2: Food Spoiled By A Power Outage
With the cost of food steadily rising in recent years, the need to replace spoiled food after a power outage can be more of a financial burden than it has ever been before. The good news is, you may not need to shoulder this burden alone. This is because many homeowners insurance providers offer a limited benefit to help you replace the food inside your refrigerator and freezer if this food spoils as a result of a power outage. In some cases, this coverage may also apply to food that spoils as the result of an appliance failure — though this type of coverage is less common than the coverage pertaining to a power outage.
#3: Temporary Lodging While Making Repairs To Your Home
If you are forced to leave your home because of severe damage, your homeowner's insurance may be able to help cover your short-term lodging expenses. This type of coverage typically comes with a daily limit. For example, your insurance provider may cover up to $50 in lodging costs per day. If your actual lodging costs exceed the covered amount, you will be responsible for covering the rest of your bill on your own. Consequently, you will want to find out what your insurance provider's per diem rate is before booking your home or selecting a short-term rental property. This will allow you to minimize your out-of-pocket expenses.
To learn more, contact a homeowner's insurance service in your area.
Share13 December 2022
About a year ago, I started thinking more seriously about choosing different insurance. I was focusing on all of the different aspects of insurance, and it was really interesting to me to see how much I could save by switching services. It was a lot to process, but before I knew it, I was able to completely overhaul my insurance coverage, and it made a tremendous amount of difference for me. This blog is here to help other people to know what to look for in insurance coverage so that they can enjoy a happier tomorrow. Check out this blog for more information.