When most people think about insurance, they typically focus on the basics: health insurance, auto insurance, homeowners insurance, and life insurance. But what if we told you that there are some surprising and lesser-known things that are actually covered by certain types of insurance? These unexpected coverages might just make you rethink your insurance policies and ensure you’re maximizing your protection.
In this article, we’ll dive into five surprising things that are often covered by various types of insurance, providing you with an expanded view of what might be available to you when you need it most.
1. Lost Wedding Rings: Coverage Through Homeowners or Renters Insurance
For many, a wedding ring is a significant and valuable possession, both financially and sentimentally. But did you know that homeowners insurance or renters insurance can often cover the loss of your wedding ring?
Whether it’s due to theft, fire, or an unfortunate accident, some homeowners policies offer coverage for personal property loss, including jewelry. However, it’s important to note that most standard policies have coverage limits for jewelry, often around $1,000 to $2,000. If your ring is worth more than that, you might want to consider adding a jewelry rider to your policy, which will cover the full replacement cost.
What You Should Do:
- Review your homeowners or renters insurance policy to see if jewelry is covered.
- If the value of your wedding ring exceeds the standard coverage limits, ask your insurer about adding a scheduled personal property rider for higher-value items.
This can provide peace of mind knowing that one of your most cherished possessions is protected.
2. Pet Injuries: Coverage Through Auto Insurance
It’s not something many people think about, but auto insurance may actually cover injuries to your pet if they are hurt in a car accident. If you are involved in a collision and your pet sustains injuries, certain auto insurance policies offer pet injury coverage.
This coverage typically falls under comprehensive or collision insurance and may cover medical bills for your injured pet, including surgery, medications, and other treatments. While not all auto insurance providers offer this benefit, it’s worth checking with your insurer to see if it’s included in your policy.
What You Should Do:
- Contact your auto insurance provider to ask whether your policy includes coverage for pet injuries.
- If not included, inquire about adding pet injury coverage to your policy.
This unexpected coverage can help you pay for emergency care for your furry friend, providing both financial protection and peace of mind.
3. Identity Theft: Coverage Through Homeowners or Renters Insurance
Identity theft is one of the fastest-growing crimes in the world, with millions of people affected every year. While identity theft protection is often an extra service you have to pay for, many homeowners insurance or renters insurance policies already provide limited identity theft coverage.
This coverage typically helps cover the costs associated with restoring your identity, such as legal fees, lost wages, and other expenses related to reclaiming your good name after fraudulent activity. It’s an often-overlooked benefit of basic insurance that could save you a lot of stress and money if you ever fall victim to identity theft.
What You Should Do:
- Review your homeowners or renters insurance policy to check for identity theft coverage.
- Consider adding extra protection if needed or switching to an insurance policy that offers more comprehensive identity theft coverage.
This often-overlooked benefit could be a game-changer in the event of a cyberattack or fraudulent activities using your personal information.
4. Temporary Living Expenses: Coverage Through Homeowners Insurance
If your home is severely damaged due to a fire, flood, or another insured event, your homeowners insurance policy might cover more than just the repairs to your home. Loss of use coverage, which is a standard feature of most policies, can cover the cost of temporary living arrangements, including hotel stays, meals, and other living expenses while your home is being repaired.
For example, if you’re displaced due to a fire or natural disaster, loss of use coverage could reimburse you for the costs of staying in a rental property or a hotel until your home is restored. This can be a lifesaver, especially during long-term repairs.
What You Should Do:
- Review the loss of use coverage in your homeowners insurance policy to see how much you’re entitled to for temporary living expenses.
- If your home is in an area prone to disasters, such as floods or earthquakes, make sure to have adequate insurance coverage for your home and living expenses.
This coverage ensures that you and your family can maintain a normal lifestyle, even when your home is temporarily uninhabitable.
5. Travel Insurance: Coverage for Non-Refundable Trip Costs
While many people think of travel insurance as covering things like canceled flights or lost luggage, there’s a surprising aspect of coverage that most don’t realize: non-refundable trip costs. Travel insurance often covers more than just the obvious risks; it can also reimburse you for non-refundable expenses if you have to cancel or delay a trip for reasons beyond your control.
This can include costs for hotel bookings, tours, and even some meals. Travel insurance may cover non-refundable trip expenses if you need to cancel your trip due to reasons such as illness, family emergencies, or natural disasters.
What You Should Do:
- Before purchasing travel insurance, make sure to check what types of non-refundable costs are covered.
- If you are planning a trip with significant prepaid expenses, consider adding coverage for trip cancellation, interruption, or delays.
This little-known benefit can help you recoup your financial losses when unexpected events force you to cancel or delay your trip.
Conclusion
Insurance isn’t just about the basics—it can cover surprising things you might not have known. From pet injuries and lost wedding rings to identity theft and temporary living expenses, insurance policies often include coverage for more than just the obvious risks. By familiarizing yourself with the unique and lesser-known coverage options in your homeowners, auto, travel, and other insurance policies, you can better protect yourself and your loved ones.
If you haven’t reviewed your policies in a while, it’s time to take a closer look at what’s covered. By ensuring that you’re fully aware of all the benefits available to you, you can rest easy knowing that unexpected situations are well within your reach of protection.