What does Home Owners Insurance covers that most people don’t know…
Homeowners Insurance is one of those things that everyone needs, most have, but few really fully understand. Besides your basic coverage which happens when something happens to the home, homeowners insurance covers a few other things that you may not know.
First, your homeowners insurance covers belongings in your car from theft. If someone breaks your window while you are parked anywhere, not just at your home, and steals valuables, your homeowners insurance covers that loss up to a certain amount. Now, how many people think to make a claim to their homeowners insurance when this happens?
Second, let’s say your kid is playing baseball at school, and while swinging, the bat flies out of his hands and hits another player in the head. Your homeowners insurance actually protects you from being sued for monetary damages to the injured player because of your liability coverage. Remember, this doesn’t have to happen in your back yard, or be on the property at all. You’re still covered.
Third, If you store your personal property off site and its lost due to a covered peril, you have protection!
Fourth, If you live on a golf course and are driving a golf cart and run over another player you have Liability protection!
Fifth, if it is not specifically excluded or restricted on the policy back, you generally have coverage any where in the world for these things!
Yes, these things are all great and amazing but I would be remiss to not discuss the things that homeowners insurance does not cover that some people may think or assume it does.
First, it does not cover earth movement. That means earthquakes, sink holes, or other acts of God that may harm your property. There are separate policies that can be taken out to cover these and, especially in the state of California, should be seriously considered.
Second, your homeowners insurance does not cover flooding. It doesn’t matter if the flooding is from a pipe bursting or three weeks of rain, if you do not have separate flood insurance on your home you, your belongings and your home will not be covered.
Third, always be aware the limitations on theft of cash, jewelry, fine arts, and guns. The $20,000 painting in the living room should have it’s own insurance policy, as well as the firearm in the closet and the crown jewels in your safe. Should any of these go missing, your homeowners policy would only cover up to the amount listed in the policy rather than the full amount of the valuables.
If you have any questions on this please feel free to contact me at ctrowbridge@farmersagent..com or 1-650-Farmers.
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Related posts:
- What are my options with Home Owners Insurance and how do I figure out what I need?
- How Much Insurance is the Right Amount of Insurance to Have?
- Mortgage Protection Insurance
Corrin & Virginia have been in the insurance industry for 7 years. They pride themselves on giving clients the information they need to make wise decisions in their financial affairs, protect assets, and strengthen their financial futures. They believe an informed buyer is an empowered buyer and seek to differentiate themselves by providing superior service, and want to be a resource for their clients/prospects to answer questions and give referrals that respect their interests and goals. Contact them at ctrowbridge@farmersagent.com.
