Beyond the Basics, What Else Does Your Homeowner's Insurance Cover?

10 March 2017
 Categories: Insurance, Articles

When most people think of homeowner's insurance, they usually assume it only covers events that happen to their home or events that happen inside the home. But your homeowner's policy isn't just limited to reimbursing you for structural storm damage or replacing damaged property. In fact, you'd be amazed at the many other things that a typical homeowner's insurance policy can take care of inside and outside of your home. The following explains what else your homeowners insurance can cover beyond the stuff you'd normally think of.

It Can Cover Your Belongings During a Move

If you're planning to move from one house to another, you may be able to use your homeowner's insurance instead of purchasing a separate insurance policy from your moving company. Most homeowner's insurance policies provide protection for personal belongings that are lost, damaged or destroyed by covered perils such as fire and theft. Your policy will cover your belongings up to a selected limit, which varies among insurance providers.

Keep in mind that moving insurance may still be useful when dealing with certain situations, such as damages that may not be covered under your homeowner's insurance policy. For example, your homeowner's coverage may not reimburse you for furniture that's damaged by movers, whereas moving insurance may pay for your damaged belongings.

It Offers Protection Against Dog-Bite Lawsuits

One of the biggest fears that dog owners have is their beloved pet accidentally biting a houseguest. If your dog bites a guest and that guest sues for injuries that occur afterwards, you may have protection under your homeowner's insurance policy. Most insurance providers offer dog-bite liability protection as a part of your basic homeowner's insurance coverage, with most policies offering $100,000 to $300,000 in liability coverage.

You can also combine this coverage with an umbrella insurance policy of $1 million or more. This gives you extra protection against dog bite lawsuits that end up costing more than your normal liability coverage can handle.

It May Cover Accidents Outside of the Home

Unbeknownst to most people, the protections offered by homeowner's insurance against accidents can extend beyond the home. Your policy may also be able to cover miscellaneous accidents that occur while you're away from home. If you accidentally injure someone and you're found liable for those injuries, you can use your homeowner's insurance to take care of those damages.

You can also use your homeowner's insurance to cover damages in vehicles that wouldn't be covered under your automotive insurance policy, including bicycles and other non-motorized vehicles. Riding mowers are also covered under your homeowner's insurance, but only if you keep your mower on the premises and off public roads.

It Can Protect You Against Slander Lawsuits

If you're ever sued for making a claim or accusation that turns out to be slanderous or libelous, you can use your homeowner's insurance policy to avoid the financial fallout that could occur. However, this requires that you sign a personal injury endorsement on your policy and add umbrella coverage on top of your existing homeowner's coverage beforehand.

Keep in mind that this coverage is only valid for unintentional instances of slander. If you go out of your way to make slander or libel or if it's done as a part of your profession or during the course of conducting business, you'll find yourself without any coverage to depend on.

It's important to read the fine print before relying on any of the additional coverage options listed above. You can also consult your homeowner's insurance agent for more information on what your policy covers and how you can take advantage of that coverage.

To learn more about what your insurance can or can't cover, contact services like Family Insurance Centers.