Things You Didn’t Know Your Home Insurance Covers
Competition in the short-term insurance sector has seen many home insurance benefits become standard across the board, so much so that insurers don’t even advertise them (and the ones that do generally have nothing better to offer). Without even knowing it, your home insurance probably covers the following:
1. Homeowners Liability
If a person is injured on your property, whether inside or outside the home, you as the homeowner could be held liable for the damages. Your insurance company may cover the medical and legal fees involved in a third-party claim. The same is true if your pet causes injury to someone.
2. Pet Injury
Many home insurance policies cover the injury of a pet, should it be involved in a fight with a neighbour’s dog, or a neighbour’s vehicle. This benefit pays out the costs of the very expensive veterinary bills, but only for accidents and injury (not shots, sterilization, or illness).
3. Spoiled Food
Eskom’s load shedding, although a pain in the kiester for your family, has benefited more than just generator manufacturers. Insurance companies have added spoiled food and groceries as a result of power outages as a benefit on most home insurance policies. If your food goes off because of a lack of electricity, the insurer will pay out its amount for your replace it.
4. Stolen Money
This depends on the insurance company, but many are now offering cover for money stolen, no matter its form. That is, if your credit cards are stolen, cheques, and other money guarantees (even deeds to the home and other assets), the insurer may pay out for it. Many homeowners consult their bank to reverse the fraudulent use of credit cards without even checking their home insurance policy to see if it’s covered.
5. Guests’ Belongings
If you have a household contents insurance policy, it may automatically include your guests’ belongings. If their clothes, luggage, or other property is destroyed or stolen, your insurance company will pay out for it, up to a certain amount of course. If you often have guests staying overnight, then it would be wise to find an insurance policy that includes this.
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