Homeowners Insurance Needs for People with Disabilities

People with disabilities can now have homes tailored to their specific needs thanks to technological and medical advances. However, if you make any significant changes, ensure you have adequate homeowner's insurance to cover them.

Homeowners should understand the worth of any improvements they make to their home, whether a wheelchair ramp or a deck. If the sum is significant, they should contact their insurance agent to see if they need to make any changes to their policy.

While your standard policy may cover some renovations, don't take any chances. People with disabilities frequently make significant changes to their homes, such as installing a wheelchair lift, installing an environmental control unit (a device that allows people with limited mobility to operate electronic devices), or upgrading the electrical system. You should not only notify your insurance agent or company about such improvements, but you should also ensure that they are mentioned in your policy.

Keep Your Belongings Safe.

Modifications aren't the only things that can impact your home insurance policy. If you have expensive medical equipment, consult with your agent or broker to see if it's worth purchasing a separate rider – a policy add-on – to cover it.

A power wheelchair can range in price from $10,000 to $12,000. A separate rider will not only ensure that you can replace the wheelchair if it is damaged or taken, but you may not have to pay a deductible for the wheelchair if you file a claim.

It's also a good idea to keep track of what you own. Please keep track of the value of the items and their estimated replacement costs. Keep receipts for medical equipment in a secure location, such as a safe deposit box, so that you can quickly provide them to your insurance company. Finally, photograph your medical equipment.

Don't Forget About Caregivers.

Some people with disabilities have caregivers who come to see them regularly. If that's the case, liability is an issue because there's always the risk that the caretaker will trip and fall in your home or on your property. You may be subjected to a costly lawsuit and lose your home if this occurs.

If the caregiver is a professional, such as a nurse or a home care aide, there will be fewer liability issues because that person is already licensed and insured. However, you should confirm this with the health care professional's employer.

'What happens if someone gets hurt?' you want to ask. Does your insurance or mine cover it?' If they aren't insured or aren't willing to answer your questions, look for another health care provider.

If you have a private caretaker or friends or neighbors who check in on you regularly, you want to limit your exposure to lawsuits as much as possible. One method is to try to reduce safety hazards. For example, if you have a lot of medical equipment, keep it in areas with little foot traffic. Similarly, ensure you have adequate lighting so that people do not trip.

It's also a good idea to get an umbrella liability policy. According to Lehman, typical home insurance policies provide around $300,000 in liability coverage. On the other hand, an umbrella policy can provide coverage of $1 million or more.