5 Common Home Insurance Myths

After almost losing everything we had due to a home flood, I realized that we needed to work harder to protect our finances. I started looking into different policies in the area that would work for my budget and lifestyle, but it was pretty overwhelming to make a choice. I realized that there had to be something that we could do to make a positive difference, so we started talking with insurance brokers in the area. Within a few weeks, we were enrolled in life, auto, and medical insurance plans that we could afford and that would protect us from serious problems. Check out this blog for more information.

5 Common Home Insurance Myths

23 July 2020
 Categories: Insurance, Blog


A home is one of the biggest investments you will ever make, so protecting it with the right insurance is a wise decision. It will protect your home against fires, theft, and other disasters. However, before you purchase a home insurance policy, it is important to uncover some of the common misconceptions about these policies.

Home Insurance Will Cover All My Possessions

One of the most common misconceptions people have about home insurance is that it will cover all of their belongings. The truth is, though, that insurance companies place limits on coverage on particular items, such as jewelry and antiques. If you want these items protected  in case of a disaster, you probably have to purchase extra coverage.

It Is Fine to Embellish Your Losses

It is never a good idea to exaggerate your losses to your home insurance company. For example, you should not claim your laptop computer was stolen when you never had one in the first place. Insurance adjusters are trained on how to detect fraudulent claims and you do not want to ruin your relationship with your insurance company or face legal repercussions.

Older Homes Cost Less to Insure

At first, it might seem that older homes may not cost that much to insure. However, your insurance company may actually charge you higher premiums to insure a vintage home. Older homes are more likely to have structural problems or old plumbing that may be expensive to replace.

Your Home Insurance Policy Will Cover Your Injuries

Another mistake people believe about home insurance is that it will cover their medical bills if they get injured. However, if you get hurt on your property, you will have to rely on your health insurance policy. On the other hand, if guests are injured on your property, your home insurance policy will cover the expenses.

Flood Damage Is Covered Under Your Policy

Many people mistakenly assume that flood damage is included in a standard home insurance policy. Unfortunately, this just is not true. You have to purchase a separate policy that covers flood damage. If you live in an area that is prone to flooding, it may be worth adding flood insurance to your policy.

As you can see, there are many misconceptions floating around home insurance these days. If you have additional questions about your policy, you should not hesitate to schedule a meeting with an insurance agent in your area like those at Ronald H. Krupa Insurance Agency.

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Choosing The Right Insurance Policies

After almost losing everything we had due to a home flood, I realized that we needed to work harder to protect our finances. I started looking into different policies in the area that would work for my budget and lifestyle, but it was pretty overwhelming to make a choice. I realized that there had to be something that we could do to make a positive difference, so we started talking with insurance brokers in the area. Within a few weeks, we were enrolled in life, auto, and medical insurance plans that we could afford and that would protect us from serious problems. Check out this blog for more information.

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