Ways Halloween can pose insurance risks

As Halloween nears, we’re going to focus for the next three weeks on some Halloween-related risks you should be aware of as a homeowner. Our first post focuses on the increase in property crime.

Halloween is a day where you can play as your favorite movie villain. It’s also a day that many interpret as a free pass to wreak havoc on whatever’s in sight, from egging your front door to throwing toilet paper on your shrubs and trees, to smashing the windows of your home or car. Halloween presents the potential for property damage.

Halloween sees an average 24 percent more crime-related insurance claims than any other day of the year. Of those claims, 19 percent are for vandalism and mischief, 21 percent are for off-premises theft and 60 percent are for on-premises theft.

If your home or car are vandalized or burglarized, be sure to check your homeowners policy deductible to determine if it’s worth filing a claim with your insurer. For example, if a gang of ghouls damage $2,000 worth of property and your deductible is $1,500, it might not be worth filing an insurance claim over.

Keep in mind that you’ll have to pay $1,500 before you’ll be reimbursed for the remainder of the loss, so you’d only get $500 from your insurance company. Frequent claims can also increase your insurance premiums.

For more information on what your homeowners policy covers, give E. R. Munro and Company a call at 1-877-376-8676, ext. 136.