3 Little-Known Issues Often Covered By Homeowner’s Insurance

Most homeowners fully understand the value of homeowner’s insurance in the event of a disaster, such as a fire, tornado, or hail. However, certain things can take place in your Warwick, RI home that could be covered by your homeowner’s insurance policy and you may not even know that they are covered. Take a look at three little-known issues often covered by The Slocum Agency, Inc. homeowner’s insurance policies.

Damage to Your Neighbor’s Property 

A limb falls from a tree in your yard and damages the neighboring home’s window. Before you get out your wallet to pay for repairs, make sure you file a claim with your homeowner’s insurance. Most homeowner’s insurance policies do cover damages to neighboring properties if the damage was your fault or caused by something on your property. 

Injuries Someone Sustains While On Your Property

Say you are having a backyard get-together and a relative trip on the patio and falls down the stairs. Legally, you can be held responsible for their injuries, and most homeowner’s insurance covers a certain level of property liability if you have elected that as an option when building your policy. 

Damages to Appliances During a Storm

If lightning hits your home and sends a power surge through the outlets, it can damage everything from your expensive television to your smart refrigerator. Most homeowners assume there is nothing they can do but go out and replace the damaged items or pay for repairs, but it’s possible that homeowner’s insurance will pick up the tab. 

Overall, the homeowner’s insurance policy you have in Warwick, RI could cover more than you know. Reach out to The Slocum Agency, Inc. for more information about obtaining the proper coverage for your home. 

Do I Need to Create a Home Inventory?

Warwick, RI residents are not required by law to purchase homeowners insurance, but many lenders will require that their customers do so. It is also common for people without mortgages to obtain coverage, because it will offer indemnification in many circumstances and will serve to protect financial assets. Part of good fiscal planning involves the creation of a home inventory, and we will discuss this at more length. 

Home Inventory Basics

A home inventory will make things easier for you and your insurance company in the event that you have to file a claim, and it will help the process go faster. It is important to keep this list as up-to-date as possible because this tool can help insurance adjusters accurately identify items that have been damaged or destroyed. A home inventory can also aid in filing property tax reports involving personal property losses, making it an essential part of every homeowner’s record keeping. 

It is best to take photographs of everything you own, documenting entire rooms and taking care to focus on specific items that are of high value, such as pieces of jewelry, artwork, tools, and expensive equipment. Make a list on paper or on a spreadsheet of all your belongings, room by room. It is vital that you videotape your items and that you keep the footage on your computer and on a backup drive. You will want to keep copies of your photos, lists, and film in a separate location, such as a safety deposit box. 

Talk to the Slocum Agency, Inc.

We at the Slocum Agency, Inc. can answer your questions regarding homeowners insurance, and we will be glad to offer you a quote. We have experience serving the Warwick, RI area, and we look forward to working with you. Contact us, and speak to one of our knowledgeable and friendly agents today!