6 things you’ll be surprised to know are covered by your home insurance
Your home insurance works hard to ensure your home is covered, but you may be surprised to know that your home insurance also works hard to cover a number of your other assets as well. Here are 7 things you may possess, that your home insurance extends its coverage to.
Your jewelry
Under many home insurance policies, there is coverage for your jewelry. From your great-great-grandmother’s precious pearls that have been passed down for generations, to your engagement or wedding rings, it can give you peace of mind to know that you are covered if anything happened to them. Your policy typically covers up to a certain appraised amount, so if you have jewelry that is high value it may be worth looking into additional coverage to add to your home insurance policy.
Your electronics and specialty equipment/tools
If you have a home theatre system in your basement, or fancy yourself a handyman around the house and own a number of expensive tools, you’ll be happy to know that these items can be covered under your home insurance. Much like jewelry, your home insurance may cover up to a specific amounts, but also gives you the option to add more covered if you deem it necessary. If you have a home office with a computer or use your high-end lawn equipment for work purposes, speak to your insurance broker and determine whether they should be insured under your home or commercial policy.
Your collectables and artwork
Whether you are an avid vinyl collector, or enjoy decorating your walls with beautiful artwork, you can breathe easy knowing that your collections are covered under your home insurance. Collectables can range from a multitude of things, like rare actions figures, or an antique coin collection, if possible it is best to get the items appraised to know just how much coverage you need for these items. Likewise with artwork, you’ll want to have a good idea of how much your pieces are worth to gage whether or not addition coverage is necessary.
Your pets
Even though your precious pet is thought of as a member of the family and not a possession, they are often covered home insurance policy. This extension of your home insurance covers you in the event that they bite or injure someone, or if they get sick or become injured. Which is extremely beneficial, as pet owners know all too well just how expensive a trip to the vet can be.
Your child’s possessions while in school
If you have a child away in college or university, their possessions may be covered under your home insurance. Laptops, tablets, and all those expensive gadgets that go along with being a student, can unfortunately be victims of theft or other incidences. While living on campus, your home insurance can extend to cover their possessions even though they are no longer living at home. Beware however if they are living off campus, as they may no longer be covered under your policy and may need to get their own renters insurance.
Your car
Your probably thinking, “Your car? Why do I have an auto insurance policy if my home insurance covers my car?”. But hold up, before you rush to phone your insurance provider and cancel your auto insurance policy, your home insurance doesn’t cover your vehicle the same way your auto insurance does. Your home insurance helps cover your car in one specific way, namely if someone breaks into your car and steals your belongings. Vandalism and damage made to the car during a break in is covered, but there is no coverage under your auto insurance in the event that someone steals items from inside the car. That is were your property insurance comes into play, covering the loss of your belongings.