The Importance of Insurance

It Covers That? Surprising Things Your Homeowners Insurance Might Pay For

18 February 2015

Katrina Terry

Are you kept awake at night by images of a tree crashing through your garage, or a nasty rain storm followed by a flooded basement? If so, you might find comfort knowing your house and belongings are protected by homeowners insurance. However, if you're like most Americans, chances are you didn't read every line of your policy. Grab your paperwork and read the fine print because you might be surprised by these things that are often covered by homeowners insurance policies:

Rotten Lunch Meat and Spoiled Milk

From a freak accident to human error, there are many reasons why you'll suddenly lose power. In most cases, the loss of electricity is a minor annoyance. However, if you've ever been without power for several hours or days, the true damage of this loss can be felt once you open your refrigerator.

However, before you start dipping into your savings account to replace all that spoiled food, Bankrate recommends researching your homeowners insurance policy for this specific coverage. In many cases, if you lose power due to a freak accident or any other reason beyond your control, your homeowners insurance will provide you with the cash to replace your spoiled food.

According to Bankrate, the typical homeowners policy with this type of coverage will provide you with up to $500 to replace all that food!

Your College Student's Gear

According to My Future, the average cost of books and supplies for a college student in 2012 was over $1200! This includes that top-of-the-line laptop or flat screen television that is being not-so well cared for in your college student's dorm room.

If your college student is a dependent and there is a fire in the dorm or your college student's laptop is stolen, these items might be covered by your homeowners policy. Because your young adult is a dependent, according to many policies, those stolen items are technically yours.

However, if the student is living in an apartment, they will need to purchase their own renters insurance because this is a separate residence, meaning their gear isn't covered under your policy.

The Sky Is Tumbling

The majority of standard homeowners insurance policies will cover damage to your home and property caused by falling objects. Generally, most homeowners will utilize this coverage after a tree limb falls through their living room ceiling. However, did you know that this same basic policy will also cover damage caused by a meteorite, fallen satellite or even a freak airplane crash?

Although these events are rare, it's possible your homeowners insurance will pay you to correct the damage caused by these freak accidents. If you're unlucky enough to have a meteorite or dislodged airplane wing fall on your home, it's vital to act quickly.

Take several pictures, ask the police department to document the damage thoroughly and most important, contact the insurance company immediately.

A Broken or Defaced Headstone

A headstone or grave marker is a sacred object that unfortunately, is sometimes victimized, damaged or even stolen. According to MSN Money, because a headstone is considered an asset, the replacement cost is often covered by your homeowners insurance.

According to MSN Money, the average coverage provided by a homeowners insurance policy is anywhere from $1000 to $2500. Once again, it's important to read your policy or contact your insurance provider to learn if you can replace the headstone without paying out of pocket.

From once-in-a-lifetime meteorite damage to spoiled eggs, your homeowners insurance policy might cover a surprising and bizarre array of issues. If you're truly baffled by these unique circumstances, chances are you might be surprised to learn more information what else your insurance policy will cover!

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