Most homeowners purchase a standard homeowners insurance policy and rarely take the time to read it after they receive it from their agent.
The Insurance Information Institute says that homeowners insurance provides coverage for the structure and contents (personal belongings), and additional living expenses if the home is unlivable because of a covered disaster like a fire, as well as liability protection against lawsuits, damage or injury family members or pets may cause to others.
As a homeowner, you probably think you have a pretty good idea of everything that your insurance policy covers. You might be (pleasantly) surprised to find that the policy actually covers more than just the run-of-the-mill accidents.
Here are some examples of other coverage that may be available under your policy. Granted, every policy is different, so make sure to read your policy or talk with your broker to verify what coverage actually exists.
You may not have purchased the gravestone, and it doesn’t have to be on your property. If you are the primary caretaker of a headstone and it is damaged or vandalized on your property or at a cemetery, your policy may consider it personal property and offer coverage to replace it. There is usually a sub limit on this coverage, so check with your broker.
College-age children living in dorms away from home may have coverage for their personal belongings under their parents’ homeowners policy for theft and other covered causes of loss. This coverage is usually a percentage of the homeowners property coverage, and may have age limit restrictions for the student.