Home Insurance Coverage - The Good Neighbor Coverage

Many homeowners are covered for something that happens often through their home insurance policy, and they don't even know it. If they were aware, it could save them a significant amount of money if their kids, their pets, or they themselves cause damage to a neighbor's home. It is called Good Neighbor Insurance Coverage and it is included in virtually every homeowners insurance policy out there. The specifics of the coverage option vary somewhat but generally speaking, here's how the coverage works.

If your children to any damage to your neighbor's house, all you have to do is call in and make a claim. The best thing about this coverage is that there is no deductible necessary and you get your money immediately after the insurance company has had a chance to view the damage to your neighbor's home. Depending on who your home policy is with and how much protection you have opted for, your maximum payout on a Good Neighbor claim will be around $1000 or more.

It even covers damage that your children do intentionally, as long as they are under a specific age that is named in the policy. It also covers any damage that your pet may do like a dog chewing the walls of your neighbor's house. Of course, it covers any damage you cause by doing yard work or playing with your kids. No matter what the exact cause, good neighbor coverage will take care of you and handle your payout with no deductible. Don't forget that you have it.