What exactly does home insurance cover? You may expect home insurance to protect you in the event of a fire or theft, but home insurance does so much more. Let’s take a look at nine surprising ways home insurance protects you from danger if you have full coverage, also known as a comprehensive policy.
1. Spoiled food
If the power goes out, cutting off electricity to your refrigerator and freezer, you can expect spoiled food if the outage lasts too long. Many home insurance companies cover spoiled food, so you can restock your fridge once the lights come back on.
2. Identity theft
Many home insurance policies cover expenses that result from identity theft. For example, you may be reimbursed for legal fees, mail costs, and lost wages for missed days of work.
3. Theft while on vacation
Home insurance will cover your loss if someone steals your belongings on vacation, like your phone, laptop, or camera. Home insurance can even cover belongings stolen from your car. You don’t need to be home for home insurance to protect you. If you want additional coverage while on vacation, consider purchasing travel insurance.
4. Your parents’ and kids’ belongings
If your parents live in an assisted living facility and depend on your financial support, your home insurance may cover their belongings. Similarly, many home insurance policies cover your kids’ belongings when they’re off at university. Of course, students might want to purchase their own tenant insurance to ensure they have complete protection.
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5. Stolen bikes
If someone stole or damaged your bike, your home insurance might cover your loss (up to a certain limit) — even if your bike wasn’t at home at the time.
6. New locks
Home insurance may reimburse you for replacing your door locks after someone steals your keys or breaks into your home.
7. Liability coverage
You may be liable if someone injures themselves while on your property. Home insurance can help cover the cost of defending yourself in a lawsuit and paying out claims.
Liability coverage can also cover your kids and pets. If your daughter throws a baseball and breaks your neighbour’s window or your dog (certain breeds may be excluded) bites the mail delivery person, you can submit a claim to your home insurance company.
Finally, liability coverage can protect you if you’re volunteering. For example, if you break a crate of plates or accidentally injure someone, your home insurance may cover your costs.
Your home insurance covers more than just your physical house. Any detached garages, sheds, or gazebos may also fall under your insurance’s protection. Plus, home insurance usually covers trees, hedges, lawns, fountains, and other landscaping features up to a limit stated on your policy.
Somewhat surprisingly, gravestones and urns are frequently covered by home insurance, even if they’re off your property. Whether the headstone is stolen, vandalized, or damaged, your home insurance should cover replacement.
Find the right home insurance policy
Having the right home insurance coverage can go a long way to protect you from the expected and unexpected circumstances. Review your current policy or compare home insurance policies to see if you’re covered for your needs.