In August of 2013, my house caught on fire. And while there is still work to be done prior to my putting it on the market to sell this summer, I did learn more than I bargained for about the homeowner’s insurance claims process, in addition to taking the time to read my policy and find that there are several things that homeowner’s insurance covers that you might not expect – I sure didn’t.
1. Mandated Upgrades
Being in real estate, I understand that building codes change all the time. And while (when selling homes), most of these codes allow for a grandfather rule for older homes when it comes to compliance, when you have an insurance claim, the adjuster is supposed to account for brining items not currently up to code, up to code. This saves a heap of hassle in selling.
2. Spoiled Food
In the event the damage to your property extends to your refrigerator, I found that most homeowner’s insurance policies will pay up to $500 for any food that goes south due to a direct result of property damage.
3. Slander & Libel
In the event you are sued, or in the event that someone publishes something about you on or offline in tandem with this legal action that is considered slander or libel, your home owner’s insurance policy can step in to help offset your lofty legal costs. Nifty, right?
4. Dog Bites
Having German Shepherds, I am no stranger to warning strangers to beware of my canines. However, I did not know that my homeowner’s insurance policy will also assist me in the event that one of my friendly beasts decides to put the chomp on a guest or intruder. In fact, most policies offer $100,000 to $300,000 in liability coverage, on average.
5. General Accidents
Being as accident prone as I am, this one was really shocking for me. After doing some research, I came to discover that most homeowner’s insurance policies will help cover loss for homeowners in a personal injury situation. In other words, if little Susie falls off of her bike, your homeowner’s insurance policy can help cover the liability and medical costs in some cases, should you decide to file a claim.
6. Student Coverage
If, like me, you have a daughter away in college, I found that her possessions and belongings are covered under my home owner’s insurance umbrella. In other words, should she be the victim of loss due to theft or damage to her domicile, even when she is not living under my roof, she is covered.
Hopefully you never have to file a claim, but in the event that you do, it’s always helpful to know what’s covered.
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