Answer to Question #209320 in Management for Kajal

Question

Jayprakash was informed by one of his friends that home insurance comes with a unique feature of paying the medical expenses of other party. Do you also agree with this? As an insurance consultant can you share the various products available under home insurance and break the myth.

Answer 1

I believe that home insurance has the unique characteristic of covering the medical bills of third parties because medical payments coverage can assist pay for expenses incurred due to an injury sustained on your property. It functions by reimbursing the policyholder for expenses incurred due to the injury, like medical bills and burial fees.

Medical payments coverage is typically used to cover small, less-costly injuries due to the typically low maximum limit. It’s oftentimes enacted to prevent smaller injuries from becoming major problems, helping to pay for things like an ambulance ride, stitches or follow-up physical therapy treatments.

Various Products Available Under Home Insurance and Break the Myth.

· Home insurance only covers the structure and contents of the home.

Standard home insurance policies cover · All sorts of water damage.

· Everything you own, even valuables, is covered by your house insurance policy.

· While one has gone on vacation, the home is always said to be safe.

· Natural disasters and "acts of God" are not covered by homeowner's insurance.