Homeowners insurance is the best way to protect one of your biggest investments: your house. Most homeowners understand the typical protections of this insurance, such as repairing or replacing property damage and coverage of liability in the event that someone is harmed on their property. However, there are seven additional benefits of homeowners insurance that people are not aware of, but which provides unexpected protections. Depending on the policy, homeowners insurance coverage includes:

1. Mandated Upgrades 

When a home experiences extensive damage, such as in a fire, many policies include coverage of improvements required by building codes that were not in place when the house was originally built. For example, the latest building codes might require the installation of a sprinkler system, the relocation of a hot water heater, and more. Rather than paying for these changes yourself, your insurance may cover a significant portion of the expense.

2. Food Loss Replacement

A basic homeowners policy often covers your refrigerated items. If there is a long power outage that results in spoiled food in your refrigerator and/or freezer, your policy usually covers up to $500 to replace this loss.

3. Lawsuit Defense

Under the liability section of your homeowners’ insurance, the policy usually covers the cost of defending a lawsuit filed against you for issues such as a dog bite, libel, or slander. This is often included at no additional cost and can save you more than $25,000 on a dog bite case.

4. Falling Debris Coverage

There is potential for many unexpected things to fall on your home, from satellite parts returning to earth to a meteor or even debris from a nearby demolition project. Whatever falls on your home that shouldn’t have, your insurance will pay for the damage.

5. College Student’s Property Coverage

If your child lived with you before moving away to school, college or university, their personal property will be covered under your homeowners’ insurance until they are 26 years old. This protects their laptop, television and other personal property if it is stolen or damaged while they are living on campus or in an apartment. However, if they purchase renters insurance because it is required by their landlord or for any other reason, your policy will no longer cover their property.

6. Personal Property Coverage While Traveling

In addition to providing coverage for the repair or replacement of personal property in your home, most policies have extended coverage for the possessions you carry with you while traveling. This benefit usually replaces stolen items but may also cover other loss situations as well.

7. Displacement Costs

If your home is uninhabitable due to storm, fire or other damage, your insurance will pay for hotel and restaurant bills. There may be a monetary or time limit to this coverage so check with your agent before filing a claim.

Many people pay for damage or loss that is actually covered by their insurance. Before paying out-of-pocket or filing a claim, check with your insurance agent to determine the extent of your coverage. To get the most from your homeowners’ insurance dollars, let us help you find the best coverage for the lowest price. At Alliance, we represent the best insurance carriers in the state and will work with you to craft a policy tailored to meet your needs and your budget.