At a glance, home insurance seems relatively basic. It protects your physical home and your personal belongings, and can even protect you in the case of certain lawsuits. But home insurance can be a complicated beast and there are many things you may not realize are covered by your home insurance policy.
If you need to vacate your home while it undergoes repairs, you may be covered for a stay in a hotel or rental apartment for a period, so long as the damages fall under a protected hazard. This type of coverage is known as Additional Living Expenses.
Your Child's Dorm Room
Your home insurance policy protects your family's possessions even when they're not in your home. If you have items stolen from your car, from your storage unit, or even from your kid's dorm room, you're protected. Just make sure your insurer has a record of all that new stuff you bought to deck out the dorm.
If you try to install a new sink and wind up totaling your countertop, you may find that you're protected under your homeowners insurance plan — so long as you let your insurer know before you began your attempt at a DIY project.
Fire Department Charges
You probably didn't know there was even any such thing as fire department charges. However, when a fire department monitors homes through a third party, fees are often collected. In this instance, however, the fees are usually so low that you might as well pay out of pocket rather than worry about a deductible.
Wild Animal Damages
If you don't live in a rural area, you might be laughing at this one. But at least a few times a year, some displaced deer or bears make their way into a suburban neighborhood, tearing down fences and garage doors up and down the street. It's good to know that you're covered should this happen.
And one more, just for fun: Space debris. We’re going to go ahead and say that your home insurance provider probably doesn't get a lot of claims for meteorite damage.
Speak with your insurance agent about protecting your home with a comprehensive home insurance policy. Not all policies are created equal and you may need additional coverage in case you want to protect expensive items or against commonly-excluded accidents—even those that come from outer space.