damages covered under home insurance..

Submitted by Anonymous (not verified) on Tue, 10/21/2008 - 08:50

Hi all..the last time I heard about home insurance I was convinced that it doesn't cover the policy holder for any damages upon his car e.g. a tree falling over it. Does it cover any damages done to the basement of my home? If it covers...then I'd also like to know about what would happen to the damaged inventory of self-employed (home-based) people like me?
Regards, Kyliedfoxy

Posted: 21 Oct 2008 09:33 Post Subject:

Good morning Kyliedfoxy, and welcome to the community...your HO policy would not cover a tree falling on your car...however your auto's comp coverage would cover the car...not sure what you mean by the basement? Of course it would depending on what happened, the type of policy you have and so on...same with your property....what peril are you talking about? water damage maybe? can't think of much else in the basement other than fire, theft and water....again re: water damage it matters what caused the damage...please be more specific with your question and I'm sure we can come up with an answer for you.

Posted: 21 Oct 2008 09:57 Post Subject:

Hi foxy, since all the home policies available are different from each other you are required to read your policy document carefully to know what exactly is covered under it.

Most of the insurer will not cover the basement walls or floor if it gets flooded due to rain or receding river or creek, however it may cover the contents within since the contents are covered under the homeowners plan.


Posted: 21 Oct 2008 10:17 Post Subject:

There are alot of different protections from home owners. It ould depend on your policy and what coverage you paid for. Have you talked with your insurance company? They should be able to give you answers and guide you through.

Posted: 21 Oct 2008 01:35 Post Subject:

Lori is correct at saying that your HO would not go after such damages resulting out of a tree-fall. For that you'd certainly need to maintain a comprehensive auto policy. However, if lightning is the cause of such damages then it is possible.

Posted: 21 Oct 2008 01:42 Post Subject:

Yes, I guess the damages caused by lightning would be covered. But I'd like you to go through the policy benefits very carefully and make sure of the limitations. There could be some restrictions for covering the damages caused to your basement. Such restrictions would vary from one policy to another. Crossbreed

Posted: 21 Oct 2008 01:53 Post Subject:

If it covers...then I'd also like to know about what would happen to the damaged inventory of self-employed (home-based) people like me?

Hey..I have not come across any such instances wherein the HO would reimburse you for such business operations that are being carried on back home. My friend, I'd rather suggest you to obtain an endorsement that would protect your business operations back home. Caromel_merquez

Posted: 21 Oct 2008 01:58 Post Subject:


My friend, I'd rather suggest you to obtain an endorsement that would protect your business operations back home.

On the other hand you may go for a business owner's insurance. I'd rather believe it to be a more relevant option than HO. It is certainly meant to offer more of protection towards your business operations from within your home. What do ya think!
Regards, Plasticmind

Posted: 21 Oct 2008 06:17 Post Subject:

Never thought of that one. Does a HO policy cover the business part of the house if anything happens?

Posted: 21 Oct 2008 06:57 Post Subject:

Many companies (mine included) have the ability to include additional insurance for a "Home Office" - computers, materials, etc. But you have to ask for it..it is not automatic.

Posted: 21 Oct 2008 08:00 Post Subject:

Thats kind og how I figured it would be.

Posted: 22 Oct 2008 03:30 Post Subject:

Not sure how we got coverage from an HO policy to address damage from a tree falling because it was struck by lighting.

Does the HO policy provide coverage to a basement? Well, yes and no. As Lori mentioned, the HO policy covers certain things and it excludes others. Such an open ended question can only result in an opened ended answer... yes... and no.

Posted: 22 Oct 2008 03:31 Post Subject:

Is that your final answer Life?

Posted: 22 Oct 2008 09:35 Post Subject:

every policy is different but generally your car would be covered under your auto

as far as the basement it depends on what your looking for it to be covered by, if it's a flood it's probably not covered in your plan, but you insurance dec page is going to have more information on that

your business property is most likely not covered unless you let them know you have a business on the property and got extra coverage for it because most of the time home based businesses are excluded from coverage

also look at your personal property limits, do you think it's the same as the amount of stuff you have in your home?

Posted: 22 Oct 2008 11:37 Post Subject:

Is that your final answer Life?

Could be....could be.

Posted: 23 Oct 2008 11:58 Post Subject:

Sure you don't want to use a lifeline? Phone a friend? ask the expert maybe?

Posted: 24 Oct 2008 12:06 Post Subject:

Nah....I'm fairly confident that I think I could be relatively correct.

Sort of.

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