Thursday, September 18, 2008

Homeowners Insurance covers food loss!

This is my frugal tip of the day.
I did not realize it, but my homeowners insurance will cover the loss of food in my refrigerators and freezers due to the power outage! Someone at my husband's job told him we should check into it, and indeed it does!
My policy subtracts my deductible and then pays the difference! For some people, meeting the deductible may be difficult, but I have two refrigerator/freezers and a deep freezer, and they were all full. The meat in the deep freezer alone may meet the deductible!
All I have to do is keep a list of the food I throw out and then turn it in with the approximate price value. I won't make enough to replace it all, but at least it will be something.
You should call your insurance company and check into it!


The Frugal Homemaker said...

That is a good tip. I had never heard of that, but it makes sense.

You may want to consider, though, whether it is worth it to make the claim. Most insurers will increase your premium once you have made a claim. You may end up paying higher rates over many years because of a claim like this.

Not to say you shouldn't do it, but just something to think about.

Amy said...

Definitely something to look into. Good luck with the insurance company!

Anonymous said...

Your premiums are going to go up regardless, they do every year, so why not claim your damages and get your money back?

Insurance will go up at the slightest little event whether you caused it or not (ex. the CEO's child wants an extravagant wedding this year and his wife wants another yacht, etc, etc), there goes your premium.

Jhon smith said...

really nice post...
thanks for sharing and it is really a nice blog...