Home insurance protects your largest asset from some familiar dangers. When thinking of the most likely scenarios, you might be thinking about house fires, theft or hail damage. But the list of perils covered by your average home insurance policy covers more than you think.
The most common home insurance policy is the HO-3 which usually protects your home and surrounding structures from damages from either 16 named or specified perils or an open peril basis (where everything is covered except things listed as exclusions). In either case, one somewhat surprising thing that you’re protected against is: falling objects.
Today, we’re delving into the particular peril of falling objects. What does that really mean? Does that mean anything that falls from the sky or are there exclusions? And how common are these things really?
Tips for homeowners to avoid falling objects
Now the falling objects mentioned above are not something you can really avoid. I mean if a piece of ice from a plane comes hurtling through your roof, there’s really no preventing that (and that’s why we have insurance). That said, for more terrestrial objects, here are some tips:
- Regularly maintain your property, checking for signs of corrosion or disrepair that could cause things to fall.
- If you notice any city or utility-maintained poles, street lights, etc. in need of repair, report those to the appropriate organization for maintenance.
- Trim branches that overhang your home. Encourage neighbors to do the same, especially if their trees hang over your roof.
- Make sure to remove any trees that are dead or dying.
What to do if your home is hit by a falling object
You were sitting at home and a piece of something just crashed through your roof. What’s the next step?
First, you should review your policy. Understand the specifics of your home insurance coverage. Review coverage limits, exclusions and any additional endorsements that may be needed for comprehensive protection against falling object damage.
Next, document and report. In the unfortunate event of damage, document the scene with photographs and videos before making any repairs. Promptly report the incident to your insurance company to initiate the claims process.
Wrapping up
While most falling objects pose a very small threat to your home, it’s still good to have a comprehensive understanding of what is covered and what is not.
Regular maintenance, awareness of your policy details and proactive risk mitigation can help homeowners navigate the potential challenges associated with falling objects and protect their investment in their homes.
And remember, if you are that one in a million whose home is destroyed by a meteor, not only will insurance likely cover it, but you’ll have a pretty amazing story to tell.