Credit: Everyone aspires to hold a problem-free Super Bowl party. But a big crowd, a boisterous could have you checking your homeowners’ insurance. Here’s our rundown of three common party calamities and how your insurance should--and, occasionally, shouldn’t--have you covered.
A Guest Steals Your Stuff
If your party swells to include unsavory characters you may or may not know, an item or two might be missing once the clock runs out and the guests are gone. If you have a comprehensive homeowners policy though, you’ll be covered.
Or covered up to a point, at least. Actually, more accurately, it’s past a certain point--that of the homeowners deductible on your policy. Most policies require you to cover anywhere from the first $100 to the first $2,000 of any claim; somewhere around $200 to 300 is typical. That essentially reduces coverage to anything that’s both small enough to be snuck out of your home and pricey enough to more than clear your deductible--like jewelry. If you live in a city like New York and have renters insurance instead of homeowners, you’ll likely have similar provisions in that policy.
Your Dog Bites
We all know your dog "would never bite someone" but if one of your rowdy guests ends up provoking your dog a bit too much they might wind up between Fido’s jaws. Dog bites can be costly affairs. There may not only be medical expenses but legal ones, should the victim choose to sue. Luckily, both homeowners and renters insurance typically cover bites--by most types of dogs, at least. About 10 breeds are likely not to be covered by your policy, including German Shepherds and Pit Bulls.
Someone Gets Hurt
Not every tumble a guest suffers in your home exposes you to insurance liability. But those where you can in some way be found negligent can spell financial trouble. Let’s say a loose stair you’ve been meaning to fix fix trips a guest, and they tumble down the stairs and break an arm. You're technically liable, and even a friend might file against you to recover costs and potential additional claims for pain and suffering.
Fortunately, homeowners and renters policies usually come with at least $100,000 worth of liability coverage. If a situation like the one above should occur, contact your insurance company as soon as you can--even if the other person hasn't filed a claim against you yet. There’s usually a window to report a claim and if you wait too long your insurance company may not accept your submission. If the injured person does decide to file against you, your company should step in and pay for all costs.
Finally...
If you don't have a renters policy or homeowners policy, you still have a few days before the big game to get one. Simply file an online quote, and get covered, usually beginning on the next day. Just be sure to get as many quotes as you can to ensure you are getting the best renters and homeowners policy around.
The article Insurance and Those Super Bowl Party Snafus originally appeared on ValuePenguin.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
