Avoid the Common Misconceptions of Homeowners Insurance

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Most homeowner’s are required to have home insurance but do you know the truth about your policy?  The truth is… homeowner’s insurance policies vary and it is important to note what your policy says about personal coverage in order to avoid common misconceptions.

There are several types of homeowner’s insurance policies available so be certain of which one you have.

Various options includes coverage of :

The house or structure itself in the event of loss and only including cost of damaged property.
the loss of property and personal property usually including the replacement cost of your home, other structures on the property and cost of your personal property loss.

There are many common misconceptions about what homeowner’s insurance covers. Be warned it typically does NOT cover:

  • Homeowner’s Insurance will not cover mold damage in your home that is a result of your personal neglect in maintaining your home.
  • Damages that are a result of earthquake, flood or hurricane.
  • Total value of loss of jewelry, cash, silverware and firearms. Note: there are typically caps on replacement value usually in the range of $10,000.
  • Theft of personal property from a car parked in your driveway.
  • Value of your land only the value of your structure and personal property.

Our agents will help you understand your policy fully and make sure any potential misconceptions are dispelled. We value the opportunity to help you avoid the Common misconceptions of homeowners insurance.