Understand when you should rely on your home insurance policy.
Homeowners insurance is one of those things that homeowners hope they never have to use. They know that they have protection in place if needed, but they hope that a disaster never presents itself. Unfortunately, there are some situations where you should call your home insurer. Knowing when to pick up the phone can make a big difference in getting back to normal.
Here are just a few situations in which you should give your insurance company a call:
- A guest is injured while visiting you. If someone has sustained injuries while on your property, it’s important you call your insurer. Most insurance includes medical expenses coverage specifically for these situations. If you do make a claim, it’s best that your insurance company knows about it sooner rather than later.
- Your home is damaged. Whether a tree falls onto the roof, a water pipe bursts or a fire tore through the kitchen, if your property suffered damage, contact your insurance company. More often than not, your insurance will help to repair and recover your home.
- You’ve been robbed or your house has been vandalized. If this does happen, call the police first. Once you’ve dealt with the criminal side of the issue, get in touch with your insurance company. The property insurance portion of your homeowners policy should cover repairs to the property damaged by theft or robbery, so you will need to make a claim.
- You’re getting a trampoline or pool. Why should you let your insurer know you’re getting a trampoline or pool? Because both of these features affect the risk profile of your home and may impact your coverage needs. Your liability coverage offers payments if a guest is injured at your house, so your insurance company should know if you’re adding features that make it easier for people to get injured.
- You started a business from home. If you’re conducting business from your home, your insurer should know about it. Most homeowners policies exclude coverage for business-related activities carried out on the homeowner’s property, so if you don’t update your coverage, you may be operating unprotected.