Home insurance policies are inevitably complicated and include a lot of fine print. The complexity of this type of insurance gives rise to a lot of misconceptions that consumers need to be aware of to get the best possible policy to meet their needs.
The following are five of the most common home insurance misconceptions out there:
- A home insurance policy will cover all possessions within the insured home- Home insurance insures not only your home itself but also some of the possessions inside it. However, it may only offer coverage on possessions up to a certain amount. Also, some home insurance policy specify that they don’t cover certain items like collectibles and jewelry.
- Medical expenses incurred by the homeowner will be covered by home insurance- Most home insurance policies include a medical payment portion that will reimburse individuals for medical expenses caused by injury in the home. However, typical home insurance policies only offer this in the case that guests to the home are injured. The medical portion will not necessarily offer coverage for medical expenses from injuries to the residents of the home themselves.
- Maintenance performed on my home won’t affect home insurance coverage- If you neglect maintenance tasks on your home, you may face problems when filing a claim for compensation for expenses caused by neglected maintenance. Some insurance companies will not honor a claim if home damage was clearly caused by a failure of the homeowner to keep the home well maintained.
Interested in learning more about home insurance? Contact Linda Dugan Insurance if you have questions or if you’d like a quote on a policy for your property.