Few are the people who can purchase a home without a loan. For the majority of homeowners paying on their mortgages, home insurance is a requirement. Regardless of whether you own or are paying on a house, there are lots of reasons to buy homeowners insurance. And one of them is the surprising things you might not know home insurance covers.

#1: Accidents Away From Home

The bathroom might be one of the most common scenes of an accident, but many mishaps occur away from your house. Did you know that your home insurance might cover accidents away from home? Auto accidents excluded, physical injuries that happen away from home can be covered via your home insurance.

For example, let's say you're on vacation at the beach. While playing a friendly game of golf, you accidentally break someone's nose. You can file a liability claim via your homeowner's policy.

#2: Home-Based Business

According to Forbes, 1 in 5 Americans work from home. The number of people working from home is expected to increase by 63% in the next five years. Did you know your home insurance can cover business out of your home?

A standard home insurance policy probably won't cover a claim if your business inventory ever catches on fire or is damaged by a natural disaster. But if you talk to your insurance carrier about your home-based business, your plan can be adjusted to cover it.

#3: Required Upgrades

Older homes run a higher risk of requiring mandatory upgrades. For example, if the city you live in passes a new ordinance, you might need to upgrade your home to meet the new law. Sometimes your home may be grandfathered out of meeting the new requirements. But if it isn't, your home insurance will most likely cover the cost of the upgrades.

#4: Lost Food

Who hasn't had a refrigerator or freezer full of spoiled food due to a power outage? Depending on where you live and whether you have access to a generator, you might face this scenario on a yearly basis.

Your home insurance likely covers spoiled food up to a certain monetary limit. As long as the cause of the food spoiling was out of your control, your policy can help you restock the fridge after power has been restored.

If you haven't already, combing through your home insurance policy is a wise use of free time. You might just find that it covers a lot of out-of-pocket expenses. Click here to learn more about home insurance quotes.