Insurance Considerations

Your home is very likely your biggest investment, which is why you insure it. If something were to happen to it, you’d want its replacement cost covered. Who has the out-of-pocket funds to build/repair a home…and completely refurnish it? And we’re talking not only the bigger items typically thought of, like furniture, electronics and appliances. You’d also need to replace linens, cooking utensils, toiletries, clothing, all the little things also lost in the type of catastrophic event most of us will thankfully never experience.

Yep, insurance is not only a good idea, it’s pretty mandatory considering the alternatives.

All home insurance policies are not created equal, which is why you need to have a sit-down with your agent to be sure you’re covered adequately. For instance, many homeowners aren’t aware flood damage is rarely covered by a standard homeowners policy. Or earthquakes. But, many policies cover more than just structural damage to your property.

What kinds of things might you overlook that should be covered by homeowners insurance? Here’s a list of things that might surprise you.

Mandated Upgrades

Let’s say your house was the victim of a fire. If new laws were instituted after your home was built and required you to have sprinklers, your policy would have to cover the cost of installation. This is coverage for “ordinance or law.” You’d be covered for any costs associated with bringing your home “up to code.” However, there’s often a limit on coverage, usually a percentage of the home coverage.

Are You Libel?

If you’ve ever written something making claims against someone, and it’s labeled as slander or libel, you can be sued by the offended party, which could cost you damages. Your insurance would protect you with its liability coverage, which the Insurance Information Institute says is typically coverage in the neighborhood of $100,000 to $300,000.


As you can begin to tell, a homeowner’s policy is basically a general liability policy, many times covering a wide variety of activities unrelated to the home. So if you’re away on a business trip and accidentally trip a co-worker, who falls and breaks a bone or two, you could be covered for liability. Always check your coverage, whether you’re making a claim or having one filed against you.

Home Away From Home

If your home’s roof is ripped off by a storm, you obviously can’t live there. Your insurer will likely pay for a hotel stay and restaurant bills while you’re forced out of your damaged home. You’re probably even covered if a satellite targets your house as its landing zone upon re-entry. But there could be limits to all this coverage, so as always, check with your agent.

Long Distance Coverage

Have a student away at school? That future rocket scientist and most of her personal property is likely covered under a parent’s policy, the personal property coverage. This comes with one asterisk; the student must usually live in an on-campus dormitory. If he/she lives off campus in an apartment, separate renter’s insurance may be required.

As you can see, there just might be quite a few things covered under your homeowners insurance that you were not aware of. Even stuff like spoiled food after a power outage may be covered. As is usually the case, you should check with your agent to verify just what is and isn’t covered with your policy.

And don’t forget, Vantage Credit Union offers insurance through our Credit Union Insurance Agency, LLC, (CUIA). * Our insurance professionals are ready to meet and discuss all your insurance needs. They’ll review your situation and make recommendations that best suit your lifestyle.

Explore your insurance options with CUIA!

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You can also contact us with any questions at:
314.264.5365/direct call
800.522.6009/request to speak to a CUIA representative
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* The Credit Union Insurance Agency, LLC is a wholly owned subsidiary of Members Resource LLC, a Credit Union Service Organization. Business conducted with the Credit Union Insurance Agency, LLC is separate and distinct from any business conducted with Members Resource LLC, its parent Credit Union or its partner Credit Unions. Insurance products offered by the Credit Union Insurance Agency, LLC are not (i) deposits of Members Resource LLC, its parent Credit Union or its partner Credit Unions, therefore are not protected by the NCUA and are not exclusive to Credit Union members and (ii) an obligation of or guaranteed by Members Resource LLC, its parent Credit Union or its partner Credit Unions and may be subject to risk. Any insurance required as a condition of an extension of credit by Members Resource LLC, its parent Credit Union or its partner Credit Unions need not be purchased from Credit Union Insurance Agency, LLC and may be purchased from an agent or insurance company of the member’s choice.