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7. Your turkey is undercooked, and your guests get food poisoning.
Your home insurance policy's liability protection covers you. Policies include a medical-payments provision, which you could tap into.
If the extent of loss exceeds the amount of that coverage and you're sued, your insurer would pay for your legal defense, and your policy's bodily injury coverage would kick in, McConnell says. (See "Make sure you have enough liability coverage.")
8. You let the cocktails flow freely at your holiday party, and a drunken guest causes an accident on the way home.
Your home insurance will likely pay if you're sued, depending on the allegations.
This would also be covered by your umbrella policy, if you have one. An umbrella policy provides liability coverage above and beyond your car and home insurance, typically starting at $1 million. (See "4 ways to protect your financial freedom.")
If you are held responsible for a devastating accident, you could be sued for all you have. "Anytime there's a serious injury, they'll look for any place they can get money: the auto policy of the other party, your home insurance, etc.," McConnell says. "If you were providing alcohol and you don't shut them off, you could be responsible or negligent for their actions, depending on state statutes."
9. You send gifts through the mail, and they arrive damaged.
Your best bet is to buy the insurance offered by the post office or delivery service. Your home insurance may not cover this problem.
10. Your holiday lights cause a fire.
McConnell notes that the holidays bring an increase in fire claims due to candles, holiday lights and extension cords. These claims would be covered by your home insurance.
Published Dec. 23, 2008
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