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So you are enjoying your night after a long day, sipping on your craft beer and just want to chill for the remainder of the day.  Unfortunately, a house in your neighborhood decided to explode.
Story in question.  Your house is in ruins and your night is now gone, just like your shoe collection consumed by fire.  The Red Cross is nice enough to set you up with a place to stay, but only for a few nights and you are left to your own device.  Do you want to crash with your friends or worse yet, the in-laws that still grudge for your antics on your wedding day?  What could have put you in a better position?  The answer.............your homeowners or renters insurance.  

If the house that you live in is yours, your homeowners insurance will provide coverage and set you up in a motel/hotel while things get squared away.  If you are renting, than you will need to have renter's insurance as the landlord's homeowners policy doesn't cover you.  In this scenario, the gentleman in question doesn't have renter's insurance, so he is left hanging. His online friends told him that since the explosion is from the neighbor's house, he should go after the neighbor's insurance for his losses.  You would think that make sense right?  But wait, there is a catch. 

The catch is what caused the explosion.  Said the neighbor wants an open-pit BBQ and decided to stock up on propane tanks.  Neighbor got drunk and decided to throw a propane tank into the fire.  He or she will probably be found negligent for the subsequent explosion and his homeowners insurance may pay for the damages under the liability port of his policy.  If it is later found out that the neighbor played no part in the explosion, his or her home insurance will usually deny your claim and you are out of luck in getting their insurance to pay for your damages.

So what can you take out from this story?  Get homeowners or renters insurance and make sure that you have high liability limits to cover your foolishness.  

Picture of the explosion from the source.
Posted 6:23 PM  View Comments

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