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What Exactly Does Your Homeowners Insurance Cover?

Updated: Aug 30, 2023

So, you just bought that shiny new boat, super excited for summer to get out on the lake (don't forget the sunscreen!) You parked it in your garage. Take extra care to get the more expensive durable boat cover, and park it back in the corner of your garage so the teenager doesn't hit it with the car. And dream about summer days on the lake and those huge fish you can exaggerate about catching. Refusing to tell others about your "secret fishing spot." Ahh, those will be the days.

Imagine yourself on your boat, warm summer day!

Then BAM! The worst happens - a tornado comes through and totals your garage and, with it, that brand-new shiny boat. You give us a call to get a claim going. We start going through the details, asking questions about items you lost, etc. And you hit us with, "And my brand new boat was totaled as well." We're going to ask you if you have a policy in force. The response we get? "Well, no. It was in my garage, so my homeowners will cover it."

At that point, I'm sure every agent that has had to utter these words has felt the dread in the pit of our stomach. Our response? "I'm sorry, but no. Your boat is not automatically covered on your homeowner's policy." And just like that, in that moment of shocked silence that follows, we know your mind is racing about what you will do next.

Now, let me be clear. There are different circumstances for boat size, motor size, horsepower, etc. I use this only as an example. My point is this: When you make any large purchase, whether it be a boat, a new recreational vehicle such as an ATV or motorcycle, a new lawn tractor, or even guns and jewelry - CALL YOUR AGENT! There might not be automatic coverage. And as much as I'd like to say that we know everything our clients do and buy, that isn't true. If you don't contact us, we can't protect your assets. And that's why we are here. To provide the coverage so you don't have to think about it.

The last call we want to make is to tell you that there was no coverage for something you used your hard-earned money to buy. Because if there is no coverage on that item, you are left paying out of pocket to get it replaced or fixed. Have that conversation with your agent, people! Call them, and discuss what you have. Ask if it's covered or if you need to get it covered. Don't assume you have automatic coverage.

Even if coverage is in place, conversing with your agent might bring up other areas where you may have a coverage gap. Don't be left having out-of-pocket expenses. Give us a call! Or heck, stop in and see us. Have a cup of coffee. After all, we are pretty friendly! Except on a Friday at 4:29 p.m. Nah, we'll still make time for you!

Seriously, please call your agent! Let's talk.

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