6 things you didn’t know your insurance can cover
If you’re thinking of dropping your insurance coverage because you don’t feel you get value from it, think again. Not only do insurance policies protect you financially if the worst should happen, there are little things you might not have even known could be covered. Here are six things you didn’t know you could insure.
Dog bites
Did your dog jump the fence into the neighbour’s yard to play with the neighbour’s child? Did that child then pull your dog’s tail, causing him to snap with fear? If so, you might have a small problem on your hands. Fortunately, many homeowners’ insurance policies will cover your costs if your dog bites someone else.
Loss of food (power outage)
It’s never good when the electricity turns off. For many people, not having electricity is a minor inconvenience that resolves itself within an hour. However, if you’ve suffered from a longer power outage that’s spoiled food in your fridge and freezer, you could be covered by your home insurance policy.
Car seats
Car seats are not inexpensive. Unfortunately, even a small accident can damage a child’s car seat. If you could find yourself cash-strapped, it could be prohibitive to pay a deductible for car repairs and buy a new car seat. Instead, ask your insurance company if your car insurance covers the cost of a new child’s car seat – the answer might surprise you!
Burglary away from home
On a bike trip away from home, or with your child off to camp for the summer, theft is probably the last thing on your mind. If thieves should strike, be aware that a lot of homeowners’ insurance policies will cover the cost of replacing residents’ stolen items, even if the crime occurred away from home.
Identity theft
Another thing you didn’t know you could insure is...yourself. With identity theft on the rise in Canada, many Canadians are wondering how they can protect themselves from having their identity being compromised. Unfortunately, even the most prepared person can still have his identity stolen. Luckily, home insurance policies will often cover the cost of recovering your identity and fixing your credit.
Space debris
Here’s something you never think about – if a small piece of space junk falls from the sky and tears a hole through your roof, who would be responsible for paying to repair it? If your insurance company covers damage caused by space debris, fortunately, it won’t be you.
If you are lucky enough to own a mortgage-free home or own your car outright, you could get away with having only the legally-mandated insurance. However, with these six things you didn’t know you could insure, it’s easy to see the benefit of having full coverage on your home insurance or car insurance policy. If you think one of these six scenarios could happen to you, contact your insurance broker today to find out if you’re already covered, or the steps you need to take to add coverage onto your existing policies.