Many people fail to make use of a great little supplemental coverage offered by all homeowners insurance companies.
It is called the good neighbor coverage and it is included into all home policies at no additional charge.
The specifics on how it works and what it covers is as follows.
If your children, your spouse, you or anyone else residing in the home causes damage to your neighbors home in some form or fashion, this supplemental coverage will pay for the damage you caused.
The best thing about this coverage is that there is absolutely no deductible to pay.
(A few companies charge a minimal deductible of less than $50, but most do not.
) The maximum coverage amount varies from insurance company to company and from policy to policy, but most are in the $500 to $1000 range.
Not only does this supplemental coverage cover damage done accidentally, it even covers you if the damage is intentional.
Most intentional damage is caused by children messing around and not understanding that the damage they do is serious.
Lastly, this coverage protects you if one of your pets gets loose and causes some type of permanent damage to your neighbor's home.
Mostly, this occurs from a dog chewing on something.
If any of these things occur to one of your neighbor's homes, make sure that you take advantage of this feature of your homeowners insurance policy.
It is there for a reason and you pay your premiums so you might as well use it.