You pay every month for your home insurance premiums, but do you really know what you’re covered for? Home insurance covers so much more than just your physical home. It can also protect you against damage and replace your belongings in the event of a catastrophe. Here are 10 surprising things your home insurance covers that you probably don’t realize.
Your belongings
If you’re on vacation and someone steals your suitcase or breaks into your car and takes your gym bag, your insurance may cover this. Insurance will usually cover all your belongings, even if they are not physically in your home.
Your children’s belongings
Some insurance policies will cover your children’s belongings when they are living away from home at university or college. Before your child moves away, check in with your insurance company to determine what type of coverage they may have when living away from home.
Your parents’ belongings (when in a nursing home or care facility)
If one, or both, of your parents have moved into a long-term care facility or nursing home, and are dependent on you for care, your home insurance policy may cover their belongings as well.
Your shed or garage, and the contents inside
Most home insurance policies will provide coverage for private detached buildings – like sheds and garages. They will also usually cover the contents of the shed or garage should there be damage to them. Most often, the amount of coverage will be a percentage of your total home insurance coverage.
Trees and plants that are on your property
The trees and plants you have at your home are part of your property, so usually they will be covered (up to a certain amount) against damage or theft.
Identify theft
If you have been a victim of identity theft, then you know there are a lot of expenses involved in trying to figure it out and correcting the situation. Items like legal fees, lost wages and even sending specific documents via certified mail can really add up. Your home insurance policy may help with the cost of these items.
Liability coverage when volunteering
Volunteering is a great way to give back to your community, but what happens if you break something or injure another person while volunteering? In some cases, your home insurance policy will provide liability coverage so you are protected when volunteering.
Rewarding any tips leading to arrest for theft
If someone has broken into your home, there could be witnesses or your neighbours may know something about the event. If someone provides a tip that leads to an arrest of someone who broke into your home or stole from you, then your insurance company may cover a reward for this.
Liability for your kids
When your kids are out and playing in the neighbourhood, are you worried they may throw a ball and accidentally break a window? Well, no need to worry anymore. Your homeowner’s insurance policy may, in fact, cover the cost to repair or replace the window if your child breaks it.
Additional living expenses
If you are forced to live elsewhere while your home is repaired (due to damages from flooding, or similar) then your insurance company will most likely cover the expenses associated with this. This can include food and accommodations, depending on your insurance policy.
Contact ICD Insurance today
Are you curious about whether your home insurance policy covers these or other items? Contact us today to have a broker review your policy. We can help ensure that you have a policy that meets your needs.