Homeowners insurance is a practical investment to help protect you, your family and your property in the event of unforeseen and unexpected losses. Traditionally, it’s associated with fire damage, burst or leaking pipes, or stolen property, but occasionally it covers unusual events that make for sensational news stories and viral videos. Here are four claims homeowners never thought would happen to them.
(BPT) - Homeowners insurance is a practical investment to help protect you, your family and your property in the event of unforeseen and unexpected losses. Traditionally, it’s associated with fire damage, burst or leaking pipes, or stolen property, but occasionally it covers unusual events that make for sensational news stories and viral videos.
Here are four claims homeowners never thought would happen to them.
1. Bear B&B
Bears are notoriously curious and intelligent creatures that also have an acute sense of smell.
People who live in areas with bears for neighbors must not entice them with the aromas of food. Keep doors and windows on ground floors closed and locked while cooking or if you leave the house. A bear can easily get through the screen of an open window or manipulate a lever-like door handle to enter your home and cause significant damage.
“Encountering a bear inside your home would be a very frightening experience,” says Christopher O’Rourke, Vice President of Property Claims at Mercury Insurance. “Safety should be your first priority, so call your local police or animal control station to have them help you with the situation. You can worry about any potential damages after the animal leaves the residence, because your homeowners policy will most likely cover any damage to your home (though not your personal property), unless of course the bear is a family pet.”
2. The sky is falling
China’s Tiangong-1 space station plummeted back to Earth and made its re-entry into the atmosphere earlier this year, breaking apart over the southern Pacific Ocean. The odds of debris from the space station hitting you were less than one in 1 trillion, according to the Aerospace Corporation. If it had hit your home, though, homeowners insurance would’ve covered it.
3. Your house is stolen
Yes, you read that correctly. Your homeowners insurance will cover the entire house, not just the contents inside, if it is stolen.
O’Rourke explains, “We had an insured who was away on vacation and when he returned the foundation of his home was all that remained.
“A house moving company had mixed up the address with another house down the street that was scheduled to be moved. The movers came in, transported the house to another location and thought their job was done — wrong!
“You can only imagine his surprise at the mistake. While homeowners insurance covered the cost of getting things restored back to normal, I would suspect this was one of the strangest situations any insurer has ever encountered,” says O’Rourke.
Golf is a leisurely pastime enjoyed by millions in the U.S. It involves strolling across greens and riding in golf carts, so its slow pace may seem low-risk, but it can actually be quite dangerous. According to an article in Golf Digest magazine, nearly 40,000 golfers are admitted to emergency rooms annually after being injured while playing, most by errant golf balls and flying club heads.
Recreational golfers can also cause a lot of damage to personal property. If you live on a golf course, your house has probably been hit many times by errant shots — breaking windows, damaging roofs and leaving divots in exterior walls.
So, who’s responsible for these injuries and damage?
“Simply put, the golfer who hit the shot is responsible,” says O’Rourke. “There is good news, however, because recreational golfers would be covered by a homeowners, condo owners or renters insurance policy for damage or injuries that result from the wayward shot.”
Mercury recommends reviewing your homeowners insurance policy annually with your local insurance agent to ensure that you’re adequately covered for any unforeseen losses, both unusual and ordinary.
(BPT) - As many Americans know, fall is the season when we must select our health benefits for the upcoming year. Choosing a health plan can be a daunting task, but selecting the right coverage protects you and your family's general health needs and can prepare you for an unexpected medical crisis. While no one plans on receiving a blood cancer diagnosis, for example, an estimated 173,000 Americans were diagnosed with leukemia, lymphoma or myeloma in 2017. As there are no means of preventing or early screening for most blood cancers, a diagnosis can often appear without warning. Well-planned health insurance coverage can make an important difference in how patients can fare in fighting the disease.
This year's open enrollment season, which runs approximately from October to December, is your opportunity to consider your health benefits and plan ahead. With the cost of care for major health events and severe illnesses increasing every year, you will want to select a health plan that ensures you and your family are prepared in the case of a health emergency. The Leukemia & Lymphoma Society (LLS) offers three tips to consider when selecting your 2018 health plan.
Compare physician and hospital networks: Be diligent when choosing a plan. While it is important to compare plan prices, including co-payments, deductibles and premiums, it is equally important that your primary care doctor and any specialists you visit are part of the plan's network. Not all plans cover every doctor, hospital or comprehensive cancer center near you, so review the plan's network list carefully. You also can call your doctors and hospitals to ask if they are in the plan's network. If your spouse or children are on your plan, you will need to consider their physicians as well.
Prepare for the unexpected: No one expects to receive a serious diagnosis like blood cancer, but it helps to be prepared. The cost of cancer care is rising at an alarming rate and these costs include more than drugs and doctor visits. From diagnostic tests to hospitalizations to special home health equipment, there are many hidden costs to having a serious illness. In fact, a recent survey conducted by Russell Research on behalf of The Leukemia & Lymphoma Society found that 84 percent of adults are not sure how they would cover all medical costs if they were diagnosed with cancer. That's why it's important to ensure that you have the coverage you'll need at an affordable cost.
Pay close attention to the numbers: As you evaluate your coverage options - whether through an employer, Medicare, spouse or your parents - it's important to estimate your health care costs for the following year carefully. Understand what your deductible and co-pays will be and take stock of where coinsurance will be required; review your health bills from the previous year to guide your choice, but make sure you are covered for unexpected health issues as well.
If you purchase health insurance from the federal or state marketplace, the plans you are offered will depend on your location and income. It is very important to make sure your personal information is accurate and up-to-date on the federal website, HealthCare.gov, or on your state's website. Depending on your income, you could qualify to save on your insurance through advance premium tax credits. In fact, 8 out of 10 people who purchase insurance through the marketplace are eligible for lower premiums. Open enrollment in the marketplace will run this year from Nov. 1 through Dec. 15.
If you or a family member had or has cancer, or are at risk for cancer, there is a checklist available at www.cancerinsurancechecklist.org that can help you choose the right plan when shopping on the health insurance marketplace. The Leukemia & Lymphoma Society also provides free information and resources about health insurance coverage for people living with cancer at www.lls.org.
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