Home Insurance facts that you may not know
When we are taking home insurance, we think that it will protect our home as a whole against incidents. What we don’t realize is that there are many things that it covers. So, here in this article, we will learn some uncommon insurance facts. We will learn how useful most home insurance plans are!
Your insurance company will pay for all violent or hostile attacks on your home unless the US is not under attack. As a result of those attacks, your insurance company will pay for damage caused by fires, smoke, or any other damage. It differs between different companies but, in most cases, remain the same.
If you have home insurance and your child moves to college, the company will cover their items in the same plan. It is helpful for most parents as they don’t have to pay extra. However, the company will only pay if the child lives in the Dorm of the college.
Lawn and Landscapes
If there is some damage to your lawn or other landscapes in your home, your insurer may also cover this loss. The reason is that, in most insurance plans, trees and plants are covered. The insurer would pay you if they were in good condition prior to the damage.
If there are some plants in your yard, that are not legal in many states, but legal in yours, your insurer may also cover them. In some states, they consider marijuana plants just like other shrubs. So, they will cover your loss if they get any damage.
When it comes to personal objects, we know that everything in your home is covered under home plans. However, when someone breaks in your car that is in your backyard and steal something, most people think that it falls under car insurance.
But this is not true. For the time the car is standing in the home, this type of steal will come under home insurance.
There was once an incident when a Samsung satellite landed in the yard of a Michigan couple. Luckily, there were safe, and there was no damage incurred. This was one of the rarest events and they didn’t know about the rules.
However, when they asked their insurer, they claimed that in case of any loss caused by falling objects, we would cover your loss. So, this also comes in your plan.
If you are using your drone, it falls and hits someone, or someone sues you for intruding their privacy, then the liability portion of your insurance plan will save you. As per the Insurance Information Institute, your insurer will cover your loss in this case.
However, if you were doing this on purpose, or just to peep your neighbors, then there is little chance that your provider may be interested in paying you back.
People usually assume that your home insurance policy will only cover the visible items in your home. These include a fridge, AC, Sofa, Bed, etc. If there is something that you are stored in a safe or a locker, people believe that it is their job to save them.
But this is not the case. Your insurer is interested in covering your stored items too. In some cases, they will cover the stored items at 10% of your personal belongings. Thus, in case of any mishap, you won’t have to bear the whole loss.
What even amazed us was this point. Most people don’t know that the food that spoils in their fridge also comes under their insurance plan. However, they will first enquire the reason about why the food spoiled.
If your home had a power outage for reasons that were not under your fault, then the company will pay you. So, for example, if a tree fell and damaged the power lines, then the insurance company will pay you the loss for spoiled food. On the other hand, they won’t pay if your power cuts on your fault, like not paying your dues.
Unauthorized credit card use
We know that credit card users are not blamed and are returned full money in case of unauthorized use. However, it is still a nice fact to know that your insurer is interested in covering your loss. Home insurance policy will cover you for loss of up to $500.
These were some of the major insurance facts that most people don’t know. So, you must know them because when you face a similar situation, you will know what to do.