What You Shouldn’t Believe About Home Insurance

Owning a home can come with many costs, including mortgage payments, maintenance, and property taxes. There is also home insurance to consider. Your house is one of your biggest investments and you want to protect it from the unexpected. Here are a few common misconceptions about home insurance that you should not believe.

Home Insurance Will Protect All Of My Personal Belongings

Although home insurance will cover a lot of the personal belongings in your house, it may not cover all of them. For example, some artwork, antiques, and coins may not be covered. These items are considered high-value and may be targeted by thieves. As such, insurance companies may not want to take on the risk. If you want coverage for these types of items, you may need to purchase extra insurance.

It Is Not Necessary To Make An Inventory List Of Your Possessions

Creating an inventory list of your belongings may seem like a tedious task. However, it is a necessary one. If your items get damaged or stolen, you have to show proof to the insurance company that you owned them in the first place.

If You Get Hurt In Your Home, Your Home Insurance Policy Will Cover Your Medical Expenses

This is another common myth about home insurance. If you or one of your family members gets hurt inside the home, your health insurance policy will not pay for the medical bills. You have to depend on your health insurance to cover these costs. However, if a guest gets hurt on your property, your home insurance policy will cover the costs.

The Law Requires You To Obtain Home Insurance

Many people assume that they are required by law to purchase home insurance if they own a home. However, this is not the case. While having home insurance is definitely wise, the law does not require you to have it. On the other hand, if you take out a mortgage loan, the lender will likely require you to buy insurance.

Home Insurance Pays For Pest Infestations

Pest infestations can cause a lot of damage to your home, and they are not usually covered by home insurance. Preventing termites and other pests is considered a part of regular home maintenance.

As you can see, there are a lot of different myths about home insurance. If you want to purchase a home insurance policy, you should contact an insurance agent as soon as possible. For more information on home insurance, contact a professional near you.