Have you ever gotten a bad check from someone and were charged by your bank along with not getting the money? If so, you may be covered and not even know it.
How you may be covered
Your homeowners insurance policy might provide coverage even in the instance that you try to cash a check at a bank only to find out that it was forged; granted there was no way for you to know it was bogus in advance. The coverage may also include the charge most banks process for attempting to cash a bogus check. You will need to review your specific policy in detail, but, most do in fact cover fraudulent payments in the form of a check. Please note that coverage typically doesn’t exceed $500.
Does the coverage include any other areas I wouldn’t expect?
Yes, purchases and money transfers you’ve paid for via your credit or debit card is usually also included in the coverage. If you buy an item that is never delivered or is substantially different from the order, you can resort to your homeowners insurance policy. But, it is best to try to negotiate with the merchant first and then the credit card company.
Libel too!
If you get sued for libel, then it is also possible that your homeowners insurance policy covers that. Again, review your policy and the specific terms.
What if I’m a renter??
Rest assured that most renters insurance policies also cover all of the above.
More insurance Questions? Ask Finance Experts Online
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