As property owners add their decorations and prepare for parties this weekend, there are certain cautions from the industry.
As Halloween approaches, people have started to decorate their homes in preparation for trick or treaters and for parties that will be held this upcoming weekend (the last one before the holiday), but the industry is warning that there are certain risks involved and that homeowners insurance should be properly checked and understood before proceeding.
This way, it can help to avoid possible problems and misunderstandings with insurers.
It can also help homeowners insurance customers to better understand potential liabilities associated with these celebrations. Even hanging decorations outside your property that are designed to give visitors an amusing fright should be done with caution, say experts. The reason is that there are many risks that are often not considered and that grow into preventable problems.
There are a number of homeowners insurance risks connected with Halloween decorations and celebrations.
The homeowners insurance industry is warning about everything from hanging decorations to handing out candy. The reason that handing out candy can be associated with a risk – regardless of whether you’re doing it yourself or leaving it out for trick or treaters to help themselves – is that there can be liability issues associated with having people on your property, particularly if they should slip, trip, fall, or otherwise hurt themselves.
An unsuspecting person celebrating Halloween and handing out candy could easily find themselves the victim of a lawsuit if a person claims that they hurt themselves on your property because it was too dark, because the pathway was uneven, or for other reasons. Typically, in those cases, homeowners insurance coverage will actually pay for a policyholder’s defense – which many people don’t actually know.
However, it is important for home insurance customers to read and understand their policies because there is typically a limit to the amount of coverage that will be paid out. A small “no fault medical” claim may not be a problem, but for larger injuries or extensive lawsuits, even a large sum, such as $100,000 in coverage, may not be enough.