7 coverages automatically included on your home insurance you probably didn’t know about

You insure your home for a reason. Whether you have a mortgage and your lender requires it, or simply to protect what you’ve worked so hard for. Regardless of why you have home insurance, when life throws you a curveball, you should understand what your policy covers,  

Your homeowner’s insurance policy protects more than you realize. Let’s look at 7 coverages you didn’t know come standard on your home insurance policy.

Reasonable Repairs

You must take action to prevent further damage to your property following a covered loss. In Ohio, you can contact an emergency restoration company like ServPro to satisfy this requirement. Payment for these costs are in addition to your property coverage limits, and are not subject to your deductible.

Collapse

Shielding against the collapse of your building structure, your home or other structures on your property are protected if damage was caused by a covered peril or by the weight of people, rain, animals, or hidden and undetected insects.

Pay attention to that last sentence. The operative words here are hidden and undetected. If you know you have an insect infestation, coverage does not apply. Damage caused by birds, rodents, and insects is not an insurable risk as this should easily be caught during routine maintenance, therefore coverage doesn’t apply.

Meteorites

Is the sky falling? Who cares, you’re protected! Your homeowner’s insurance covers hazards such as asteroids, meteorites, falling satellites, or other space debris.

This family in New Jersey experienced this phenomenon in May 2023. Insurance paid their claim. Should you experience a similar situation in the future, your home insurance policy would make you whole again.

Claim Expenses

If enjoined in a lawsuit, your insurance company will pay all expenses you incur while defending you.

These expenses can include:

• Premiums on bonds required in lawsuits

• Reasonable costs you incur at the company’s request

• Your loss of earnings of up to $250/day for assistance in the investigation or defense

• Interest on any judgment that accrues before paying

Volcanic Eruptions

Your home insurance policy covers volcanic eruptions. However, the resulting water and mud flow from the eruption are covered by flood insurance, thus are excluded. Fire, ash, dust, and lava flow from the eruption are covered under your homeowner’s policy. Any subsequent volcanic action within 72 hours of the initial eruption is considered one eruption for insurance purposes, keeping your deductibles down if there are multiple eruptions in quick succession. 

Legal Defense Costs

Your insurance company has the duty to defend you in a covered liability lawsuit. The company will provide counsel and pay the costs associated with the trial, not subject to your liability limits. Your insurance company will pay damages awarded up to your liability limits. 

Authority to settle the claim remains with your insurance carrier, and they will do so when it is in their best interest. 

Damage to the Property of Others

Damage to the property of others while it is in your care, custody, or control is traditionally excluded from liability coverage on your home insurance policy. This additional coverage negates that exclusion and covers up to $1,000 per occurrence on a replacement cost basis.

Coverage does not apply for property owned by your roommate or boarder, or any intentional damage done by yourself or any other covered person aged 13 or older.

As you can see, there are many different types of coverage available through your homeowners insurance plan. Many people are unaware of this so they often go unused by the masses.

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