9 Things You Didn't Know About House Insurance

1. If a summer storm thunders thru and the fists of Thor strike down your roof, are you covered?

Yes, yes you are. This season for Regina has been particularly busy for Mother Nature. Catastrophic amounts of rain, extremely high winds and lightning shows that put Gene Simmons to shame. You'll be happy to know lightning strikes are covered with your home insurance policy.

2. What if lightning knock down the power lines in my neighbourhood and we don't have power for hours on end and everything in my Freezer and Fridge rots, are we covered for that?

Unfortunately most basic home policies do not cover this, however most comprehensive policies do. Your comprehensive policy will cover damage or loss to your belongings (ex: food) caused by a failure of any system in your dwelling or outbuildings that maintains an artificial temperature (furnace, freezer, or fridge) as long as the damage is a result of that change of temperature and due to a peril insured on your policy. If you are insured for lightning and lightning strikes your house and fries your freezer and you lose all of your ice cream – fear not! Your ice cream is covered. However if a family member accidently unplugs your freezer and that causes your loss you will have to get them to replace your frozen treats.  

3. What if an airplane crashes into your house, are you covered?

Yes! Fact, if an airplane were to crash into your house, you're covered. If you're in the house when this happens you have many more things to worry about than your insurance coverage but yes, you are covered in the rare chance of a plane crash.

4. What if a satellite or meteor crashes into your house, are you covered for that damage?

Yes you are! It's very common for satellites to fall out of orbit and back down to earth. If major damage is caused make sure you file a claim with your insurance broker. 

5. If an airplane or car or a fire or Thor damages an aircraft I stored on my property, is it covered?

No! Many people think because once you have house insurance everything under your roof is covered. This is not the case. Any vehicles, airplanes, motorcycles etc. must have extra insurance purchased in order to have them covered. Your regular home insurance policy doesn't cut it.

6. Are you covered for flood or sink hole damages to your house?

No! Your regular house insurance policy doesn't cover damage due to flooding or that of a sink hole. The former obviously much more likely than the latter.

You are not covered for any loss or damage cause by flood, surface water, or overflow from streams or other bodies of water. However you are covered for loss or damage if it is due to a sudden and unexpected escape of water from a swimming pool or its attached equipment, fire fighting activities, or a public watermain.

7. Would you be covered for damage from an Earthquake or volcano?

Luckily Saskatchewan is situated no where remotely near a fault line or volcano, so this one we don't really need to worry about. Generally speaking, damage from an earthquake is not covered under your regular home insurance policy. You are not covered for loss or damage caused by snowslide, earthquake, landslide, or any earth movement. However, damage from the volcanic ash of a volcano often is.

8. Are you covered if your home gets damaged in a riot?

Again, living in Regina, the odds of your home getting damaged in a riot aren't that high, I mean, as long as the Rider's have a winning record. Generally you're covered for damage from a riot.

9. Are you covered if an explosion damages your house?

Yes, you are covered for most damage to your house.....unless Dad was trying to be a hero this past Canada Day and exploded a part of your house, your insurance broker may have a few questions for you.