Home insurance is a standard policy that is generally recommended to protect families and personal possessions. Despite being widely used by many people in Sugar Land, TX and having a good understanding of how it works, home insurance still faces common myths and misconceptions, most of which you may have come across. Insurance Solutions of Texas will help clear the air, so you have a solid understanding of what home insurance is and how it works.
Flood damage is covered.
This is one of the most common myths. Many people fail to understand the type of water damage that home insurance covers. Flood damage is entirely different from general water damage in a home. For instance, if your water pipes burst and cause water damage to your personal belongings, home insurance will come in and repair the damaged pipe and replace the damaged items. However, if it rains heavily and water flooded your home, you will need flood insurance to cover these damages.
Your medical expenses are covered.
Home insurance only covers medical expenses for injured parties who are not family members, such as guests and neighbors.
Your premiums go up every time you file a claim.
Indeed, premiums go up when claims are filed but not after a single claim. Filing a single claim will not raise your premium rates. Premiums only hike when there are too many claims in a specific duration. The same principle applies to any Sugar Land, TX neighborhood with frequent claims, such as burglary prone areas. Insurance providers have to protect their investments with frequent claims by raising premiums, but not single claims.
All valuables are covered.
This is a common untrue statement because home insurance comes with limits and does not cover expensive valuables such as jewelry, arts and carvings, and even furs. All valuables that go beyond your coverage limits are not covered.
We hope that this article helped clear some of the myths about home insurance. For questions, quotes, or policy discussions, contact Insurance Solutions of Texas today.