There is no denying just how important home insurance really is. That said, there are plenty of myths around it. What are some of those myths? Let’s take the time to investigate them and find out much truth they actually hold.
It Only Covers Property and Belongings
This myth is extremely common since home insurance is easy to misunderstand. Yes, it is true that your property and your belongings are protected. However, you also have access to third-party liability coverage which protects you against injury or damage to someone else. Most of the time, your policy should have a clause built into it that has to do with additional living expenses, such as food and accommodations, that will kick in if you have to leave your home due to some insurance-related event
All Water Damage is Covered
Sadly, not all forms of water damage are covered. Since they are to be found inside your home, items such as burst pipes or popped waterbeds are covered, as are the types of water damage they bring. Water damage caused by heavy rains, sewer backups, and sump pump failures, on the other hand, are not covered. You can get a separate water damage policy for these incidents, but you will need to find out if such coverage is offered to you.
Everything is Protected
Considering the other myths on this list, this one in particular may sound odd. Coverage for valuables is typically limited in your standard home insurance policy. In fact, valuables fall under their own special category of insurance. Jewelry, watches, furs, guns, collectibles, and sports memorabilia are high-value, and as such may need other policies to cover them in case they are ever lost or damaged somehow.
Protection Applies When You are Away
Some exceptions also apply when you plan to travel away from home. It all comes down to the precautions that you take. Having a neighbor or friend come to check on your vacant house, for example, is a measure of common sense that can also help convince your insurance company to cover you if something should happen while you’re not home.
Natural Disasters Are Not Covered
No one can control when a natural disaster happens, but preparation is key. As it turns out, most home insurance policies do not cover natural disasters such as floods, earthquakes, and sinkholes, but you can purchase a separate policy to protect your home if one should strike. It comes down to where you live and what your insurance provider can do for you.
Get in Touch with Wachter Insurance
At Wachter Insurance, our agents are here to help you pick the right homeowners insurance so you know you have coverage no matter your insurance claims. Have questions about your homeowners insurance claims? Find answers and learn more about filing insurance claims by contacting us. We will help you understand the coverage and limitations of your homeowners insurance so you can avoid having your insurance claims denied. Please call us at 301.371.6335, visit our website or drop by our Middletown, Maryland office to personalize your homeowners insurance policy today. Be sure to follow us on Facebook, Pinterest, and Twitter too!