Anyone who has purchased real estate knows that homeowners insurance is important. This type of insurance is designed to protect your real estate investment. You might know that your homeowners insurance will reimburse you for the cost of damage caused by a flood or other natural disaster, but there are some other surprising benefits that you should know about.

Understanding these benefits will help you take greater advantage of your homeowners insurance policy in the future.

1. Damages Attributed to Power Outages

Modern homeowners rely heavily on electricity every day. A power outage that lasts for any significant period of time could have devastating consequences. One of the most critical ways that families are affected by power outages is the loss of food.

Perishable food items in a fridge or freezer can easily spoil when the power is out for too long. Many homeowners insurance policies will reimburse you for the cost of your spoiled food to help ensure you can restock your fridge and freezer without suffering financial harm.

2. Belongings of a College Student

If you think that coverage applies only to the items that are housed within your residence, think again. Some homeowners insurance policies will extend coverage to the personal belongings of a family member (most often a college student) who temporarily moves away from home.

This means that the value of any belongings that your child takes with him or her to college can be reimbursed in the event of a robbery or damage related to a natural disaster. If your policy provides this coverage, you can eliminate the cost of paying your child's renters insurance each month.

3. Damages Due to a Dog Bite

Many people view their dog as another member of the family. You may be surprised to discover that your homeowners insurance provider may feel the same way. A lot of insurance companies offer protection against damages caused by a dog bite as part of the liability coverage in a homeowners insurance policy.

This means that if your dog bites a guest on your property, your homeowners insurance policy might cover medical and legal expenses. Some dog breeds might be exempt from coverage. Be sure to clarify that your dog is covered by consulting with your insurance agent.

Homeowners insurance is a valuable and important product needed to protect any investment you make in residential real estate. Take full advantage of all the coverage that your insurance policy provides by becoming familiar with some of the lesser known benefits associated with your policy.

Reach out to a company like D E Cressman Insurance Agency Inc. to learn more.