As much as trick-or-treating may be fun, it can also lead to some of the costliest claims to insurers.
Insurers are gearing up for another holiday of Halloween insurance claims, as is the case every year. As fun as this day may be for kids of all ages, homeowners and car owners often face some of their worst outcomes.
Data shows that home and auto theft and vandalism claims are consistently high on Halloween.
Therefore, insurers always encourage homeowners and car owners to review their policies before Halloween insurance claims need to be made. Many people aren’t aware of precisely what is and is not covered by their homeowners insurance policies. It isn’t uncommon for people to misunderstand their auto insurance coverage. This is particularly true when it comes to specific forms of damage.
Furthermore, liability insurance coverage also needs to be reviewed. This is important because of the number of people who will be entering your property. Regardless of whether your guests will actually enter your home, their safety while on your property is your responsibility. Injuries from dog bites, tripping and falling, or harm from a seemingly-harmless decoration could be very costly unless you have adequate coverage.
_________________________Random Success Quotes to Remember ~ “Successful people do what unsuccessful people are not willing to do. Don't wish it were easier; wish you were better..” - Jim Rohn
Look over your policy before something happens that could lead to Halloween insurance claims.
The average Halloween brings a 17 percent increase in home insurance claims for vandalism, theft, and other crimes, when compared to the average day over the rest of the year, says Travelers data reported by CNBC.
This includes issues ranging from damaged mailboxes, to kicked-in doors, or broken windows, among other things. In some cases, the damage is little more than a nuisance that will require a few dollars to repair or replace. However, in other cases, damage can bring on thousands of dollars in unexpected expenses.
Similarly, Highway Loss Data Institute data determined that from 2008 through 2012, Halloween was easily the one day of the year with the largest number of auto insurance vandalism claims.. In fact, Halloween insurance claims for vehicle vandalism is nearly twice that of any other day of the year, said the organization’s data.