Your home is one of the largest investments you’ll ever make, so home insurance is absolutely necessary. Coverage can protect both your home and belongings from various dangers, and it will give you immense peace of mind. Standard policies protect against theft, fire, wind, hail, and more, depending on your provider. About one in every fifteen insured homes files a claim each year. Here are the five most common claims.
1. Wind and hail
Claims include hailstorms and windstorms, such as hurricanes and tornados. These perils are normally covered by home insurance, but you might have to purchase a separate policy. If you live in the Midwest or along the Atlantic Ocean or Gulf of Mexico, your basic home insurance may not cover wind and hail. Call your agent to discuss your options.
2. Water damage and freezing pipes
Much of the country experiences extremely cold weather during the winter. Burst and leaking pipes aren’t uncommon when the temperature is below freezing. But there’s good news! This type of water damage is typically covered by home insurance. Inspect your pipes, and make sure there aren’t any leaks. And don’t forget to make sure they’re insulated!
3. Property damage
This category includes malicious mischief and vandalism. If your windows are broken, someone digs up your garden, your locks are tampered with, or your home is defaced with spray paint, you’re probably eligible to file a claim. If this coverage isn’t in your policy, talk to your agent about adding it.
4. Theft
If you come home and find your front door wide open or your windows shattered, you’ll probably want to file a claim for your stolen laptop and diamond necklace. If you’re worried about being robbed, invest in a home security system, alert neighbors when you’re traveling, avoid hiding a spare key outside your front door, and always remember to secure your doors and windows.
5. Fire
Fires aren’t extremely common, but they’re extremely expensive. Whether it’s a grease fire in the kitchen or a lightning fire from a store, you should receive help from your insurance provider to repair damages.