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Why homeowners' insurance truly is the gift that keeps on giving

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Why homeowners' insurance truly is the gift that keeps on giving.png

From giving the perfect gift to cooking the perfect dinner, we are bombarded with advertisements from Black Friday all the way through New Year's Eve calling on us to be nothing less than flawless in our holiday planning and execution.

Most of us know from experience, however, that this is not only impossible, but also not nearly as fun. Indeed, it's the little unplanned mishaps that make the holidays so memorable and bring so many people together. As for the large unplanned mishaps, people should merely take comfort in the fact that they have homeowners' insurance -- the gift that keeps on giving.

Stolen presents

Many people manage to complete all or most of their holiday shopping without setting foot inside a traditional brick and mortar establishment, making their purchases over the internet.

What this means is that all of the gifts they've ordered will more than likely be delivered to their front step. While this is a convenient and effective method of delivery if someone is home, it can be problematic if packages will be sitting unattended, as they make a very enticing target for thieves.

The good news, say experts, is that homeowners' insurance will generally cover package thefts provided a police report is filed. They do, caution, however, that it might not be worth it if the deductible exceeds the value of the items taken.

Frozen pipes  

Those who aren't fortunate enough to live in a place like California often make the decision to leave the cold confines of their homes, and spend the holidays with family and friends in warmer climes.

While this is typically a dream come true, it can rapidly become a nightmare if the furnace decides to quit unexpectedly and, in the process, cause the pipes to burst due to the water freezing and expanding.

In these unfortunate scenarios, experts indicate that the standard homeowners' policy should cover not just damage to the home, but also any belongings destroyed.

Injuries to guests

It wouldn't be the holidays without a steady stream of visitors to your home. However, what happens if your great aunt breaks her ankle on your slippery walk or your clumsy nephew manages to burn his hand on the hot stove?

Experts indicate that the medical payments coverage within a homeowners' policy will cover these mishaps. Furthermore, it includes liability insurance in the unfortunate event someone decides to pursue a lawsuit.

Here's hoping for an incident-free holiday season!

Source: USA Today, "Ho, ho ... oh, no! Home insurance can cover that holiday disaster," Alex Glenn, Nov. 27, 2016

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