When you purchase homeowners insurance you can almost assume that damage from certain perils is included in your coverage. For example, you expect theft, damage from a fire or vandalism to be covered. It’s hard to imagine that you’d need coverage for much else (besides floods, which typically are not covered but must be purchased separately) when you’re moving into a new home. Check out these four examples of unusual coverage:
Space Debris
It may seem far-fetched, but your insurance probably covers you in the case of damage caused by space debris. What exactly is “space debris� In your policy there may be a clause that covers falling objects, such as meteorites, satellites, and parts of airplanes that may fly over your home.
CDs Out of a Car
This example may sound pretty specific because it is. A client of ours was surprised to find out when he was younger that his parent’s homeowners insurance covered the cost of some CDs stolen out of his car. Contents stolen out of your car can in many cases fall back on your home policy.
Grave Markers
Normally your insurance will coverage damages by a peril to grave markers, mausoleums, and headstones. Damages will be covered whether they are on or away from your residence. You can receive up to $5,000 for the property.
Riots
There are plenty of reasons that riots break out across the United States. They range from political issues to the victory of a sports team in a major competition. Whether your home is looted by rioters or damaged by over exuberant sports fans there is a good chance your insurance will cover it.
It may be untraditional, but knowing what your homeowners insurance covers can save you money after unusual damages.
