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If an airplane or vehicle crashes into your home, having homeowners insurance can provide you with peace of mind and the financial support you need to make any necessary repairs or renovations. But how do you know what types of damages are covered by your insurance policy?
Here’s what you should know about whether your insurance will reimburse you for damages made to your home by an airplane or vehicle.
Does homeowners insurance cover car accidents and plane crashes?
Standard homeowners insurance policies cover any damages made to your dwelling, property, and personal belongings due to one of the named perils listed in your policy.
While there are many common occurrences that a standard homeowners insurance policy will not cover, such as floods and earthquakes, most homeowners insurance plans will allow you to cover the cost of damages made to your home by a car accident or plane crash. However, the way these types of accidents occur often dictates which types of insurance are triggered and which branches are held liable.
For example, if your neighbor hits your home with their car through no fault of your own, you should first expect to receive monetary compensation from your neighbor’s car insurance company before receiving anything from your insurance company. If their payout limit is not enough to cover the cost of damages made to your home or belongings, you can file a claim with your insurance company and they will cover the additional cost of repairs.
Similarly, if you hit your home with your own car, you must reach out to both your home and car insurance companies to inform them of any damages your property incurred during the event. In most cases, your car insurance will reimburse you for any damages made to your vehicle while your homeowners insurance will kick in and cover any damages made to your dwelling.
Make sure you assess your existing insurance policies and understand your coverage plans so that you are aware of your rights and can ensure that you receive the maximum payout in the event of an accident or emergency.