As you walk around your home, you most likely see hundreds of items that your home insurance policy will cover, in the event they are lost or damaged during an insurable incident. But your Kendall home insurance policy isn’t just about basic benefits—there are in fact some hidden benefits in the coverage that you might not even know you have. Are you interested? Here are just a few examples:
Far-flung property: You already know that your home insurance covers the personal property in your home, but did you also know that it covers this property no matter where it is in the world, as long as it’s normally stored at the insured residence? That means if your luggage is damage while you are on vacation during an insurable event that would normally be covered in your home insurance policy, you could qualify for reimbursement for the actual or replacement value of your possessions. There are some very stiff limits imposed on this coverage, and exceptions include property that is being moved because renovation makes the insured residence uninhabitable, but it’s still a benefit that could come in useful.
Theft, forgery and acceptance of counterfeit money: If your credit cards are stolen and used, your signature forged on stolen checks, or you are given counterfeit money that you believed was real at the time of acceptance, your homeowners insurance policy may entitle you to a small reimbursement of the losses that result, even if they don’t surpass your deductible.
Loss of use: If an insurable incident makes your home uninhabitable, your insurance policy may give a benefit for loss of use. This will pay for part of the living expenses for the temporary arrangement that equal the policyholder’s normal living expenses. And if the whole home isn’t uninhabitable, just the part that is normally rented out to others, your insurance policy may cover all or part of the loss of the rental income.
Each insurance policy is different, so before assuming that any of the above home insurance benefits is applicable to you, take out your policy or call your agent to examine further. And whether you get the above benefits or not, it’s a good idea to read your policy so you can find all the hidden coverage nuggets that may lurk within.
Contact Prestige Insurance Group today at 305-969-8776 for all of your home insurance needs.