Strange Things Your Homeowners Insurance Will Cover

While most people know that their homeowners insurance will pay for damage due to fire or vandalism, many are unaware of everything it actually covers

While most people know that their homeowners insurance will pay for damage due to fire or vandalism, many are unaware of everything it actually covers, and one big thing it doesn’t cover.

Flooding is one aspect of homeowners insurance that can be particularly confusing. Many people think that if their home floods, a quick call to their insurance agent will solve the problem. Unfortunately, flood coverage is a separate and usually much more expensive policy. Homeowners are often surprised to learn they are on the hook for the damage if their home is flooded.

Even if flooding is not covered, there are many odd and unlikely things that are covered. Here is a quick rundown of some of the weirdest things you are protected against with a standard homeowners policy:

Space Junk

If a satellite falls to earth and crashes through your roof, you are covered. The same goes for meteors, airplane parts or even a UFO if you are the first one to discover there is extraterrestrial life out there.

All of this falls under your open perils portion of the policy which basically says that you are protected against anything that is not explicitly excluded in the policy. Almost all policies include this type of coverage but you may want to check with your agent just to make sure, you never know when E.T. may come calling.

All of Your Cold Food

Almost all basic homeowners policies cover the owner’s refrigerated items. If the power goes out and the food in your fridge or freezer is spoiled the damage is covered. However, the majority of policies cap coverage at $500. While this will usually cover the contents of a fridge, if your freezer is full of expensive meat, or seafood, you may end up a bit short.

Volcanoes

Volcanoes are another disaster that is covered by the “open perils” section of your policy. It should be noted though that coverage is limited when it comes to volcanic eruptions. Only damage that is done to your house and possessions by lava or volcanic ash is covered. If a resulting earthquake was responsible for the damage, you would not be covered unless you had a separate earthquake policy.

Somewhat Wild Animals

If your neighbor has a herd of goats, sheep or even buffalo that somehow make their way to your yard, the damage is covered. The majority of policies cover stampeding animals, but they must be beasts that you do not own, and they have to be considered wild. This means that if your dogs, or your neighbors cats destroy your favorite couch, don’t bother calling your insurance agent as you are out of luck.

Gruesome Cleanup

No one wants to experience a suicide, murder or unattended death in their home, but if you do, the cleanup costs should be covered by your homeowner policy. It may sound gruesome but biohazard cleanup can be expensive. While not every policy offers this protection, most do. If this is coverage you think you may need some day, check with your agent.

Stop Slandering Your Neighbors

The liability section of your homeowners policy will not only cover you if someone slips and falls on your icy porch but also if you are badmouthing your neighbors in the HOA newsletter. Most policies protect you if you are sued for oral or written publication of materials that libel or slander a person or organization. Coverage levels will vary so check with your agent before putting out a neighborhood newsletter.

Your College Students Property

Even if your son or daughter is 1,000 miles away at college, their personal belongings are covered by your homeowners policy, including that new stereo in their dorm room. The coverage absolutely extends to dorm residences but if your student moves off campus to an apartment you may need to get a separate renters insurance policy.