When something catastrophic happens to your property, whether it’s caused by a burst pipe, a fire, a hurricane, or even civil unrest, homeowners insurance is an enormous safety net.
But what about the uncommon cases, such as when a piece of space debris strikes your roof or you are sued for leaving an unfavourable online review? While homeowners insurance covers a wide range of major events, it also covers a few lesser-known occurrences. Continue reading to learn about seven unusual circumstances in which your home insurance may come to the rescue.
1. Wild Animals
It’s crucial to remember that home insurance varies considerably depending on your policy and provider, with incidents covered ranging from bears in the wild to bird nests in the attic. You probably won’t be covered for any damage caused by birds, rodents, insects, or vermin. There will also likely be no coverage for any nesting or infestation.
2. Party Guests
It’s all fun and games until someone gets a little too tipsy at your cocktail party, knocking over your expensive Chihuly or causing a hole in your drywall. Most homeowners insurance policies will cover the costs if you’re a homeowner who has to deal with a costly clean-up after a wild night on the town.
It’s also crucial to understand your state’s “social host” regulations, which could include wording that implies you’re responsible if one of your party guests is harmed. For example, if one of your visitors opts to drive home and gets hurt (or damages their car), they might sue you for compensation. In these situations, if you are held liable, your homeowner’s “liquor liability insurance” will reimburse the fees.
3. Falling Objects
In a perfect world, you wouldn’t have to worry about the sky turning against you and damaging your home. The truth is that “falling objects” – like as spacecraft, for example – do occasionally harm humans on Earth. Lottie Williams was (very) gently injured by a piece of falling space debris in 1997. Though falling space junk rarely damages people’s homes, most regular homeowners insurance policies include coverage for damage caused by qualifying items that fall from the sky. Under the regular homeowner and business insurance policies, you may lose your possessions—including satellites, asteroids, meteors, and space debris.
4. Vandalized Headstones
Tombstones are expensive and difficult to repair or replace, which makes them a target for vandalism and other pranks. The good news is that most homeowners insurance covers “afterlife coverage,” which includes tombstones as one of the sixteen perils. “Vandalism or malicious mischief” is covered under peril number 16, even if they aren’t on your property since it refers to damaging graves (although they’re not technically there).
“Most people are aware that personal property refers to stuff in a home,” said State Farm representative Dick Luedke. Most individuals understand that personal belongings include their family’s headstones.
If a problem-causing teenager sprays paints or defaces your headstone, you are protected by your homeowner’s insurance policy.
5. Campus Theft
What’s not to like about college life? Theft of personal belongings, on the other hand, is a sad part of the college experience for students. Phones, bicycles, and technological gadgets such as laptops are among the most frequently stolen items on college campuses, so it’s vital to protect them.
If you have a kid moving into a dorm, your homeowner’s insurance will generally cover their belongings if they reside in on-campus housing.
Most homeowner and renter insurance policies cover the personal possessions of a college student away from home if they live on campus. Some plans may have limitations, such as restricting this coverage to 10% of the whole coverage for your child’s personal belongings.
However, you should be aware that this only applies to dorm-dwelling students. If your child moves into an off-campus apartment, you’ll want to get renters insurance for their belongings. Furthermore, not all items are treated equally, and jewellery, costly sports equipment, and musical instruments may be subject to dollar restrictions.
6. Fine Wine
If you have an expensive bottle of wine (or a collection) in your house, your homeowner’s insurance may cover its loss or damage under certain conditions and against specific perils. If you suffer a power outage as a result of one of the 16 dangers and your wine collection overheats (or freezes), you might be able to recoup your losses under the food spoilage provision of your policy. You’ll almost certainly be covered if water seeps into your wine cellar after a pipe burst. A fire, a robbery, or other types of covered perils could destroy your wine collection. In each and every one of these cases, it’s well worth your time to submit a claim and seek to recover part of your losses.
However, if water penetrates your basement (or wine cellar) from the earth, you won’t be protected, so don’t bother submitting a complaint. When push comes to shove, you should inquire with your insurance about which calamities are and aren’t covered by your policy.