According to Rocky Mountain Insurance Information Association among the top holiday mishaps are:
– Stolen holiday decorations from the front yard. Under a standard homeowners insurance policy, decorations are generally covered, but subject to the out-of-pocket deductible and policy limits. Holiday trappings are also generally covered under a standard renter’s or condo policy.
– Gifts stolen from the car while it’s parked at the mall. Coverage to replace these items falls under a homeowners or renter’s insurance policy. But, that’s minus the deductible and up to policy limits, so it’s a good idea to keep gifts and valuables hidden. This is also an easy target for identify theft, so advisers recommend consumers not to leave their purse, wallet or other personal identification items in the car. If the car is damaged during a break-in, repairs would be paid for under the car insurance policy.
– Slips and falls, such as if a guest falls on an icy driveway while on the way to a holiday party. The host of the party would need to report the accident as soon as possible to the insurance company. Standard homeowners insurance policies provide a certain amount of medical payments coverage if a guest seeks medical attention. If the injured guest sues for additional damages, the homeowners policy also provides liability coverage. An agent or company can help consumers determine adequate liability limits.
– Car accidents. If a friend or cousin borrows the car (with the owner’s permission) to make a grocery store run and causes an accident, auto insurance follows the vehicle, so the car insurance policy would provide primary coverage to fix the car and pay medical and car repair costs to any victims. The cousin’s auto policy will generally provide excess coverage over the owner’s policy limits. If the cousin is hurt, his health insurance or medical payments coverage would also help pay for his treatment.
– Fires. If holiday candles or Christmas lights ignite a fire, under a standard homeowners insurance policy, the home and personal belongings will be covered if they are destroyed by a fire, subject to policy limits and deductibles. The homeowner would also have a certain amount of additional living expenses to live elsewhere if the home is uninhabitable. Under a renter’s policy, the retner would have coverage to replace personal stuff — minus deductibles and up to the policy limits.
Have a safe and pleasant holidays!