Homeowners insurance doesn’t offer unlimited coverage for every possible mishap. Contact an insurer and discuss homeowners insurance in Glendale, AZ, to get expert advice. Here are some of the bigger myths about homeowners insurance that you may want to know.
Coverage Should Match a Home’s Value – You’ll want to carry enough insurance to cover rebuilding your home in the event of a loss. The purchase price may be more or less than that.
My Business Is Covered – Most home insurance policies exclude business liabilities. You will need to consider purchasing a business insurance policy that includes property and liability coverage.
Flood Damage Is Covered – There are some instances when your homeowners insurance policy might cover water damage, but a flood isn’t one of them. You’ll need a separate flood insurance policy.
Jewelry and Family Heirlooms – Standard home insurance policies include limited theft coverage for jewelry and valuables. If you have jewelry or other items that are worth more than your policy’s limit, you’ll need to raise the limit on your policy.
Termite Damage – Termite infestation is usually excluded from standard homeowners insurance policies. Insurers expect us to maintain our homes. An infestation can arise from a lack of proper maintenance. Have your home regularly inspected for termites and work with a pest control company to eradicate any issues.