Halloween is a good opportunity to dress up and engage in spooky debauchery. It’s also the holiday where hoards of children scamper onto your property in search of the one sacred childhood currency: candy.
This actually presents a scary situation you may not think about—a potentially expensive Halloween-related lawsuit. Any accidents that happen on your property during the spookiest day of the year is a liability risk for homeowners, so it’s important to make sure you have enough homeowners insurance.
Here are some Halloween-related risks you should be aware of as a homeowner.
Expect a frightening uptick in property crime
Make-believe monsters, witches and goblins vie for our attention each Halloween, but Fright Night is also the ideal time for real wrongdoers to wreak havoc undetected.
On average, crime-related insurance claims spike by 24% on Halloween, more than on any other day of the year, according to 2016 data from Travelers Insurance. This includes particularly sharp increases in theft, both inside and outside the home, and vandalism.
One university professor believes Halloween brings out the Freddy Kruegers of the world, possibly because of its association with paranormal psychology and urban legends. “The evening violent crime count on Oct. 31 is about 50 percent higher than on any other date during the year, and about twice the daily average,” said Northeastern University professor James Alan Fox.
Premises liability is a hair-raising concern
Halloween also means a bunch of neighbors duking it out to see who has the scariest decorations. That intricate LED-light display and giant robotic Grim Reaper sculpture will draw crowds, but it could also prove to be a hazard.
As the homeowner, you need to consider “premises liability,” meaning if a trick-or-treater trips on its extension cord and injures themselves, you’ll be on the hook for injury or legal expenses if they have medical bills or decide to sue.
Pay attention to the types of decorations you have and make sure they’re safe for everyone. Strobe lights can cause seizures for people with epilepsy, and fog machines can cause asthma attacks for people who have asthma. Be aware of food safety hazards as well. If you’re handing out a treat that contains nuts, explain that to the eager candy recipients or have a sign on your front door that lists its ingredients. Taking that extra bit of safety precaution, along with keeping the walkway to your home clear and leashing your dog, will make your November 1st less nightmarish.
If an injury on your property was an accident, it will likely be covered by personal liability coverage in your homeowners insurance policy. If you only have the minimum $100,000 in coverage, consider raising the liability limits from anywhere between $300,000 and $500,000 to protect all of your assets in the event of a lawsuit, or consider a separate umbrella policy for extra liability coverage.
Be very afraid of falling asleep… without blowing out all of the candles
According research conducted by NFPA, between 2012 and 2016, decorations were the first items that went up on flames causing an estimated average of 800 reported home structure fires each year. Those fires, according to the study results in the an average of two civilian deaths, 34 civilian injuries and around $11 million dollars in property damage.
If your home is set ablaze because of Halloween decorations, your homeowners insurance will cover the damage up to the coverage limit in your policy. Make sure your home is covered for its full replacement cost in the event of a total fire loss.
Conclusion
Even if you don’t worry about black cats or creatures that lurk in the shadows, it still makes sense to take precautions. Unsure if your home insurance is ready for everything that Halloween can bring? Contact Anderson & Associates today to get a free evaluation on your coverage, and answers to all of your insurance related questions.
