Your family is forced to stay home due to the big storm hovering over the house. The comforting sounds and bright screen of your 52” LCD television eclipses the noise from outside. Then it happens: Just as you’re about to discover who gets voted off the island, your family is startled by sudden darkness. Yep …that crackle was lighting…it has struck your house and now all your electrical devices that you hardly give any thought to have been fried.
After the outage forces your family to live in darkness for a few hours, the local power authority flips the switch and all is well…for a moment. The sudden surge of power is too much for your electronics to digest, the pop and crack a few times and there is a strange smell … That can’t be good! You hit the remote for your TV. Nothing! You walk to the garage….The garage door opener is toast, and on return to the kitchen to wash your sorrows down with a nice cold beer you find …. the dishwasher and refrigerator are also unworkable .
American households spend billions on electronics annually. The average household contains thousands of dollars of electrical goodies like appliances and electronics, including televisions and computers. Limitations found in most standard forms of home insurance could leave you in the dark; such limitations say your insurance policy will not pay for damage to electronics that is caused by a power surge.
Renters and condominium unit-owners will not find comfort in their standard insurance policies, either; the same limitations usually apply.
A sudden surge in electrical current is not uncommon. There are a number of surge-protection devices designed to prevent this from compromising the life span of your most precious toys. But this hardware is not full-proof, and can still leave you and your family in the dark.
Losing your electronics due to power surge can be a financial disaster. Imagine having to replace that $2,000 television that is hooked up to the $1,000 home theater system you spent two weeks wiring, both of which are now left sizzling after a sudden jolt?
In many home insurance policies, this limitation only applies to personal property, not to “building property.” This means items that are considered part of your house, such as a built-in range, burglar alarm system or central heating/AC system are covered by your home insurance if destroyed or damaged due to power surge. However, this is not true for all home policies.
There is hope. Most standard home insurance policies can be modified to cover losses to property caused by electrical surge. If your current policy cannot be modified, consider asking your agent to shop for a policy that includes the coverage or can be modified to do so.
However you chose to do so, purchasing this insurance coverage can be a tremendous relief for you and your family if the sudden voltage puts your prized possessions out to pasture. The important point to take home here is … HAVE US REVEIW YOUR POLICY TO MAKE SURE YOU ARE COVERED. This will only take about 15-20 minutes and can reduce your worries and stress by so you can go back to worrying about who will win America’s Got Talent.