Hello, my name is Cliff Bolton. Welcome to my site about vehicle insurance. I wanted to learn all I could about insurance before I started driving to go into the decision-making process with ease. Once I started exploring the insurance industry, however, I could not stop reading. I learned all I needed to know to obtain car insurance and much, much more. I created this site to share this knowledge with my readers. I hope to help others tackle this important decision without worry. Please feel free to drop by daily to learn new information about this important topic. Thank you for visiting my site.
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No matter what size home you have, it is likely your biggest investment. That is why it is crucial to protect it with sufficient home insurance. It can protect your house against fires, storms, burglaries, and other types of disasters. However, when you shop around for insurance, don't fall for the common myths.
Here are some common misconceptions about home insurance you should not believe.
Home Insurance Covers Every Item You Own
Although home insurance will cover the majority of your belongings, it likely will not cover all of them. If you have very valuable items in your home, such as sports memorabilia or jewelry, you may have to buy additional coverage to protect them.
Home Insurance Just Protects Your House and Belongings
Many people assume that insurance will just cover their property and the items inside of it. However, it can do much more than that. For one thing, you will receive third-party liability coverage. If someone falls on your property and gets injured, your policy will pay for their medical bills.
Your Premium Increases Every Time You File a Claim
Most likely, your premium will not go up after you file your first claim. However, if you file multiple claims within a short period of time, you can expect your premiums to rise. If you can afford to pay for damages out of your own pocket, you should consider doing that.
Home Insurance Will Pay for All Water Damage
This is another common myth about home insurance. If you have water damage from a flood, it will not be covered under a standard policy. You will have to purchase separate flood insurance. If the area you live in has frequent floods, buying flood insurance may be worth it.
It Is Illegal to Forgo Home Insurance
Many people believe that they are required by law to purchase home insurance. However, this is not true. No state requires you to insure your home. However, your lender likely will not approve you for a loan until you purchase a certain amount of coverage. This is to protect themselves in case your home gets extremely damaged during a fire or another disaster.
As you can see, there are a lot of myths about home insurance. If you have additional questions, you should get in touch with your insurance agent. They can help you choose the right policy for your needs.
Contact a home insurance provider today for more information.
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