by Nate Jones, CPCU, ARM, CLCS, AU - Wexford Insurance - Greenwood Indiana
Almost half of all homeowners don’t know what their insurance policies actually cover. There is nearly 80 million homeowners in the US. That means 40 million don’t know the full extent of their coverage.
Below we have provided some unique coverages normally found on the average homeowners policy. You may be surprised as to what your policy actually covers.
Damage caused by Pet or Child: Your policy usually provides liability protection which includes property damage or injury caused by your pet or child. This means that if your dog bites someone or damages your neighbor’s property this could be covered.
Additional Living Expenses: On the unfortunate event that your house is damaged or uninhabitable, most policies pay costs for living away from your home. This could include hotel bills, restaurant meals, and other additional expenses incurred due to your house being uninhabitable.
Cell Phones: Most policies cover cell phones in the event that they are destroyed by a covered event (Fire, Hail, etc.), stolen from your house, or vandalized.
Unauthorized Use of Credit Cards: Most policies cover unauthorized charges to your credit card up $500-$1,000 depending on the policy.
Burglary in your child’s dorm room: Most policies extend coverage to anything that is stolen from your child’s dorm room even though they are not living with you. However, they must be a full time student, under the age of 26, and living on campus.
Hope these unique coverages provide more clarity to what is additionally covered under the average homeowners policy. Each policy is unique and different in what they actually cover.
Feel free to use Wexford Insurance as a resource for your Home Insurance needs. If we cannot help you, we will point you in the direction of someone who can.