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Now that school has been in session for a while, play dates are being scheduled, as well as girl/boy scout meetings and other reasons for kids to converge on your home. Naturally, you want everyone to have a good time, but do you know what your insurance will and will not cover?
Think about these different scenarios: 1. A game of catch results in a broken ankle for one of your young guests; 2. You serve your famous spaghetti and meatballs and someone gets sick; 3. Fido gets excited with all the little ones playing and bites a child; and 4. The aforementioned game of catch sends the ball through the window and into your china cabinet. When would your homeowners coverage kick in?
A recent study of parents with children aged five to 12 years had some interesting results. For example, despite the majority of parents surveyed saying they drive and/or host other children in their home, more than half are unaware of the insurance ramifications of certain behaviors and decisions. What’s more, nearly one-third neglects to enforce basic home safety rules. In other words, dealing with your kids is different than dealing with someone else’s kids.
The best bet is to understand what you are covered for and what you are not. The same goes for hosting parties for adults, too. Where does your insurance begin and end and most importantly, what would be your out-of-pocket liabilities? Talk with your insurance professional and make sure you know for sure.