15 Things You Probably Did Not Know About Your Home and Car Insurance Policies

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15 Things You Probably Did Not Know About Your Home and Car Insurance Policies

If you have insurance, it is possible that it had some coverage you were not well aware of.

 

To get the most value out of your policy, always take not of the things that are already incorporated in the premiums you pay.

A Lawyer

 

There is a 10% chance any person can get sued in a given year with 33% chance that any person will get sued in his lifetime.  If you have home and/or auto insurance, should you get sued by an incident that your policy covers, the insurance company will provide you with legal defense.  For example, if someone gets injured within your property and sues you, your home insurance company can provide you with a lawyer in your defense.

Should the court find you negligent and thus award damages to the person suing you, then your insurance company will pay for the liabilities within the limits covered by your insurance policy.  If there are certain assets which you may want to protect e.g. house, savings, or investments, then you should consider getting an umbrella policy.  This type of coverage will provide you with liability coverage that extends beyond your home or car insurance.

Your Naughty Dog

 

If you have a very docile pooch that ends up biting a neighbor’s child and receive and injury that necessitates hospitalization and thus get sued by the event for reimbursement on medical bills, depending on the breed of dog you have, your insurance company, and your residential location, your home insurance may have you covered.  There are certain breeds that home insurers will not insure.  There are others on the other hand that will consider such issues on case-to-case basis.  There are also those who will charge more on your policy if you have any of the listed biting breeds.  Always check your home insurance policies to see if they have your particular pet covered.

Pet Injury

 

Vehicular accidents are dangerous to both humans and pets alike.  Since pets do not have the necessary seat restraints in cars, a simple and minor collision can result in their injury and potentially costly veterinary bills.  Depending on that auto insurance policy you have, your insurer may cover the bill.

Terrorism

 

If any terrorist group bombs your neighborhood, your property is under the coverage of your home and car insurance policies.  The standard home insurance policy provides damage to property as well as personal belongings that result from any act of terrorism.  If you have comprehensive car insurance, your car insurer will cover the damages should your car get damaged or destroyed by the terrorist attack.

Insurance covers terrorism but not acts of war.  The government needs to declare if an attack is war or terrorism.  This will enable your insurance company to act and respond accordingly.  The insurance however do not cover biological and nuclear attacks.

Your Stolen Gun

 

If your kids have friends over at your home only to find out later that your gun is missing, if you file a theft report to the authorities, then your liabilityinsurancequotes.ca – professional liability insurance will provide coverage over the theft.  Most home insurance policies cover firearm theft.  If you have an extensive collection though, consider buying additional coverage.

Drunken Friends

 

Hosting a party at home for friends can be lots of fun.  However, should one of them leave your premise drunk and be the cause of an accident, the blame may at times be pointed out to you.  I many states, the host can be held responsible for the actions of the guests under these circumstances.  If you have been filed with a civil claim, your home insurance will provide and cover your legal representation as well as any damages that the court may award – all these depends on the extent of your home insurance policy.  Your liability extends to the ‘social host’ liability laws.  This is why it pays to have sufficient liability coverage.

Reckless Friends

 

Lending your car to a friend is not uncommon.  If he crashes it, your auto insurance policy will provide coverage whether your friend is insured or not.  The auto insurance policy insures both the vehicle and you, along with any friends or relatives using the car provided it is used with your permission.  Basically, your car insurance will pay for any damages caused to others.  If you have collision insurance, this will cover the damages on your car.  You will however need to pay any deductible with the collision claim.

Stolen Gifts

 

If you have personal properties stolen from your home, you can file a police report and claim insurance.  If you have purchased gifts and the receipts are stolen along with them, you will be required to document the purchases you have made, or possibly obtain duplicate receipts from the stores where you have made your purchase.

Lost Luggage

 

If your luggage from a trip does not make its way back to you, many home insurance policies will cover and reimburse lost or stolen luggage.  This is basically ‘off-premise coverage’ in home insurance policies.  Some insurance companies provide this automatically, whereas others charge additional fees for it.

If you have made a lot of purchases on your vacation that have gotten lost along with your luggage, these however will not be reimbursed. Generally, only up to $500 can be reimbursed in lost personal properties regarding luggage.  If you are going to make an expensive purchase, be sure to insure this separately.

Your Kid’s College Dorm

 

Should a thief commits any robbery in your kid’s dorm, your home insurance policy will have this covered.  A lot of home insurance extends coverage on theft to personal belongings at your child’s dorm.  This coverage, however, does not extend to off-campus apartments being rented.  You will need a renter’s insurance for this.  Also, for the coverage to apply, your kid must be a student fulltime and is your dependent.

Flat Tires, Lockouts, and more

 

There are many things to consider going wrong with your car.  If you hit a pothole on your way somewhere and get a flat, ran out of gas because your fuel gauge has malfunctioned, or you accidentally locked the keys in your car, if you have roadside assistance coverage with your auto insurance policy, then you got yourself covered for these.  Progressive Emergency Roadside Assistance coverage provides you with the following assistance: towing, battery jumpstart, locksmith service, flat-tire changes, and emergency fuel delivery.  This type of coverage is optional in auto insurance and is very affordable.

Bad Checks, Fake Cash, and Fraud

 

If your credit card gets stolen, receive a fake check, or receive fake money, you are covered by your home insurance.  The policy for this however is very low with up to $500 only of coverage.

Family Grave Markers

 

If your family grave or something similar have been desecrated by vandals and gotten damaged, depending on your insurance company, this type of issue may be covered.  A lot of companies provide you with up to $5,000 over damages.  This includes monuments, urns, and gravestones.  Damages from catastrophes are however excluded from the coverage.  No additional charges are needed for this coverage.

Lawn, Plants, and Trees

 

Most home insurance has coverage on damages to trees, plants, shrubs, and lawns when the damages are a result of theft, vandalism, fire, lightning, riot, or an aircraft crash.  There is a maximum $500 of claims you can make.

Spoiled Food

 

If food inside your refrigerator become spoiled due to power outage from any peril covered by your insurance policy, depending on your insurer and the area you live, this may be covered.  However, the food spoilage brought about by power outage should be one that is a result of any covered peril like that of lightning, windstorm, hail, or fire.  Some insurance companies have this automatically whereas others have it as additional.

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