You worked so hard to get your dream home for you and your loved ones, and because of that, it will behoove you to ensure you have the right home insurance policy for you. Having said that, it is critical to consult a reputable insurance agent, and it is vital that you know the common myths about home insurance to ensure you are properly covered. Thus, the following includes many of the common myths about home insurance:
Standard homeowners insurance covers flood damage.
Home insurance doesn’t cover flood damage. A separate flood insurance policy must be purchased in addition to your standard policy in order to be covered.
It covers my medical expenses in case of an injury.
These policies typically cover someone outside your family who gets injured on your property.
It is not necessary to make an inventory list.
You must have an inventory list to show ownership especially when it comes to filing a claim.
Your premium will get higher each time you file a claim.
This usually occurs if you file multiple claims.
Home insurance covers all expensive items, including furs and jewelry.
Home insurance usually has limitations when it comes to valuables, and some high-end items may be more expensive than the limit. So, in this case, you will need to buy more coverage for those items.
Only those living in flood zones can get flood insurance.
Standard home insurance policies don’t cover floods, so you must get flood insurance. Also, floods can occur anywhere besides the flood zone.
These are just a handful of common myths about home insurance. For more information about home insurance, contact Mid Atlantic Insurance Financial today. Located in Laurel, MD, Mid Atlantic Insurance Financial has been providing top-notch insurance products for people in Laurel MD, and surrounding areas for over 15 years. Contact them today!