| 7 Misconceptions among People about Home Insurances |
There are many myths among the people about home insurance. Some people are not aware about the standard coverage of the home insurance policies. Following are the major 10 myths which people have in their minds:
1. People do have a myth that a typical home insurance policy covers the damage from floods but the fact is that home insurance does not cover damage from floods. If you are aware that your house has risk from floods then separate flood insurance is to be done.
2. Another myth in the minds of the people is that the medical payment of the owner and his family member who got injured by the damage to home is compensated by the insurance company. But, the fact is that insurance company compensates only for the outsiders who have got injured from your property so that they do not sue you to the court.
3. Another myth is that if in case you ever lost your complete home then the insurance company will pay back for everything you say on your own. The fact is that the insurance company needs the proofs like the bills of your belongings or photos etc. the best way is to keep an inventory list at a safe side.
4. Another type of myth is that if your will claim your insurance once then you will have to pay high premium. It is not the complete fact. Some insurance company does take into consideration about the history of the claims but at the same other factors are also responsible for the cost of your premium. It is advisable not to claim for very minor damages so that it does not affect your premium.
5. Another common myth is that in case of any robbery the whole amount of jewelry and other valuables will be paid off. But, the fact is that a particular amount of compensation is decided at the time of signing up the policy and only that particular amount is paid of no matter if the loss has been of much more.
6. People also have misconception that damages from their own carelessness like unfixed pipelines resulting to damage on the walls of the house will be compensated by the insurance company. It is not the fact. The fact is that the insurance company covers only the damages from covered perils like fire, theft, wind etc.
7. Another misconception among the people is that they cannot purchase a house if their home insurance is not done. This statement is not at all true. It is optional for the owner to make insurance for their home but it is always advisable to insure your property as any disaster can damage your home.
Get instant insurance rates from multiple carriers online. Free comparison for cheap auto, low cost health insurance, affordable home insurance quotes. We are dedicated to helping consumers find the most affordable and competitive home insurance on the web.
http://www.2insure4less.com
Article Source: UnArchived Articles
|
|
|
|
