What new homeowner coverage is available?

Last month I mentioned that insurance has changed over the past few years – and so have you!  So what’s new? 

Modern technology – Almost everyone uses some form now, and it’s intended to make our lives easier.  Unfortunately, using Smart Phones, Tablets & actually any internet connected device poses a risk.  Two big concerns are Identity Fraud & Personal Injury.

Homeowner insurance can help with Identity fraud coverage – most companies offer endorsements that will help defray the cost associated with identity fraud.  It’s estimated that the average person will spend 600 hours working to recover their identity!  And identity fraud isn’t just limited to your money – driver license & health insurance information can also be stolen and cause big problems!  Some companies provide a telephone number you can call for assistance, since most of us have no idea what to do first if we discover that our identity has been stolen.  Other companies have options to help you be pro-active in preventing ID theft.

Homeowner insurance can also help with Personal Injury.  Most companies offer an endorsement that provides coverage for personal injury claims (slander, libel, etc).  Why is this a concern?  Hopefully most adults are mature and don’t text or post inappropriate material, however, some folks don’t think before hitting “send.”  Sometimes your children aren’t so wise either!  Back in the day, if someone said something unflattering or offensive, it was just shrugged off.  Now a text or Facebook post can ruin someone’s reputation and lawsuits are not unusual! 

So adding coverage for Identity Fraud and or Personal Injury sounds like a good idea, but it’s probably expensive – right?  Not really!  Many companies will package ID fraud & Personal Injury along with other important forms of protection such as “all risk” for personal property, full replacement cost for personal property, water backup, lock replacement, food spoilage increased limits for valuable items & more for a much lower price than you could add them individually.  (It’s unlikely that your Identity will be stolen at the same time as you lose frozen food from a power outage).  And other endorsements are also available to help protect your family and one of your biggest investments – your home. 

Ask your independent insurance agent for more information or a quote – you’ll sleep better knowing your protected and it may even save you money~!