Most homeowners are well aware of the coverage their insurance policy provides when it comes to their homes being damaged. However, this type of insurance policy will often provide coverage that many homeowners are not aware of as well. Below you can learn more about some of these commonly overlooked protections. Taking the time to review this information will ensure that you are prepared to take full advantage of all of the coverage your homeowners insurance policy has to offer.
#1: Coverage For Lodging Expenses
If you are ever displaced from your home while repairs are being completed, your homeowners insurance may be able to help cover your lodging expenses. This includes the cost of staying at a local hotel or obtaining a short-term rental property. In most cases, this coverage can only be used if it is unsafe for you to remain in your home until the repairs have been completed. Furthermore, there may be a per-day limit associated with this coverage. Consequently, you may still need to cover a portion of this expense if you choose accommodations that exceed the price that your insurance company will pay per day.
#2: Coverage For Items In Your Vehicle
If a thief breaks into your home and steals some of your personal belongings, chances are that you know you can file a claim with your homeowners insurance provider to cover this loss. However, you may not know that this option is also available to you if your personal items are stolen from your vehicle. Most homeowners insurance policies will provide coverage for your personal belongings regardless of where you are when the items are stolen. For example, if you have items stolen from your hotel room while away on vacation, this loss will typically be covered under your homeowners insurance.
#3: Coverage For Spoiled Food
If you have food in your refrigerator or freezer that goes bad simply because you did not use it in time, replacing this food will be your responsibility. However, if you have food that spoils as a result of an extended power outage, your insurance provider may be able to help with the cost of replacing this food. This is because most standard home insurance policies will offer at least some coverage for spoiled food if this food is lost as a result of a power outage. Since this coverage is often limited to a specific dollar amount, you may still have some out-of-pocket expenses if you were storing a large amount of food when the power outage occurred.