Insurance Flood Disaster Burglary Coverage

There are many misunderstandings about home insurance coverages. Many people have found themselves in a bind due to believing these myths. Some common misconceptions are listed below.

*Flood Insurance – Many poeple think that they do not need flood coverage if their home is not located in a flood zone. Floods can happen everywhere. Protect your home and family by obtaining a flood insurance policy. Also, some think that a standard policy of home coverage will cover flooding. Flood isurance is a separate policy from your basic coverage. Are you covered by flood insurance?

*Insurance is the same – Some people misunderstand that all companies are the same and they are all expensive. This is not true. They have many different providers of insurance. Independent angents, direct writers, and captive agents. They will give yo the best quote that is right for you.

*Medical Coverage – Medical coverage in your home policy has a limit for each person. Most people assume that they are completly covered. Check the limit on yours, it is usually listed in yor policy, or you may call your agent.

*Increased Premium – Many people believe that if they are to file a claim that their premium will increase. Not in all cases, if you have multiple claims within a year it may. Ask questions to your agent and be sure do not go by word of mouth. *Burglary-If your home is burglarized and your jewelry is stolen, you should not assume that the insurance company will pay for all of it. They have limits that are placed on such valuables. Check to see what your limit is.

 *Maintenance Coverage – Policies do not cover the cost due to a lack of maintenance and normal wear . You are responsible in keeping up your home. If your porch is falling apart with decaying boards your coverage will not pay to replace this. Many people believe that they will.

*Coverage Determination – Your coverage is not determined by the price of your home. They have many other factors that it is based on. Don’t make this misleading mistake in assuming that your home is covered for the price that it is worth. Be sure that you give your information that is requested to your agent so the right amount of coverage can be obtained.

*Home Buying – Many people believe that they cannot purchase a home unless they purchase home insurance coverage. You can if you pay cash for the home and in other rare circumstances. You do not want to be without coverage anyway.

*Skimpy Coverage – Many people believe that they have to get less insurance in order to save money.This is not true, because you have the choice of many discounts that are available to you when purchasing a policy. Ask your agent about what discounts are available.

*Home Coverage – If a disaster strikes be prepared to give inventory on your loss and damaged property. Many people make a common mistake by thinking that they will just tell them about everything that wa s lost. Make a list of your belongings and keep it in a safe place in case of a disaster and you won’t have to go digging and put yourself at risk. The company will provide the form to you to fill out. Make things easy in a time of disaster.