With the holidays creeping around the corner, its possible that you have a lot on your agenda. However, its easy to overlook the different scenarios of what could go wrong should you be hosting the holidays in your home. Holiday accidents are all too common and guaranteed dampen the mood in a time for celebration and gratitude. Fortunately with the right insurance coverage, you can minimize the financial damage if an accident or mishap were to occur.
Fires
Insurance claims related to fireplace accidents are more than double while the holiday season in full swing. The average cost for such a claim is $10,149 and thankfully most insurance policies got you covered. It is worth noting that if you have had the same coverage for some time, you may not have enough coverage to cover the damage valuables inside your home. Who knew roasting chestnuts could be so disastrous
Holiday Lights
Love to decorate your yard with lights to celebrate the holidays? You may want to consider how the lights are set up, as electrical fires climb up 22% during these times with an average claim being $22,683. Overloaded outlets and extension cords can cause damaging fires to the outside of your home and the surrounding trees. The majority of policies limit coverage to 5% for these types of accidents.
Stolen Items
Burglaries and break-ins increase 6% during the holidays and it’s not surprising. Your possessions are most likely covered at 50-70% of your homes coverage. For example, if your home is insured for $300,000, then you will be eligible for $150,000 – $210,000. Some helpful tips on avoiding theft during the holiday season is to close your blinds or shades, and don’t share too much information about your travel plans on social media.
Injuries
The downside of the holidays is that Thanksgiving and Christmas can be greeted with sleet, ice, or snow. Should a family member or a delivery man were to injure themselves on your property, such as slipping and falling on the sidewalk, the policy that you are covered under should cover the medical bills even though it is usually limited to $1000 – $5000. To reduce the risk over injury to others, be mindful of keeping your walkway and sidewalk clear.