As a homeowner in the Easton, PA area, it is imperative to make sure you have adequate insurance coverage for your home. The experts at Northeast Insurance Advisors LLC have put together a list of the top misconceptions homeowners have about homeowners insurance.
Home Insurance Myths
1) Home insurance covers normal wear and tear
It is extremely important to maintain your home properly as homeowners insurance does not cover damage caused by normal wear and tear. Not only does homeowners insurance not cover wear and tear it might exclude coverage if it occurs as a result of the policyholder not properly maintaining the home.
2) Homeowners insurance covers the cost of rebuilding your home
The misconception that your policy will cover the cost of rebuilding your home is a costly one. Your policy will only cover the cost of rebuilding your home up to the insurance limit of the policy. It is critical to review your insurance limits and make sure they are high enough to cover the costs of rebuilding.
3) Homeowners insurance will cover my home-based business
If you are running a business from your home, it is critical to speak with your insurance agent and make sure you have appropriate coverage. For example, if you have a client at your home and they slip and fall you may not have coverage.
4) Home insurance provides protection against floods.
Assuming you have coverage under your policy for flooding can be a costly mistake. Almost all homeowners’ policies exclude coverage for flooding so you need to purchase a separate policy if you would like coverage for floods. Homeowners insurance claims from water damage as a result of a burst pipe or leaking appliance.
Reach Out To Us
If you would like to learn more about homeowners insurance, reach out to an expert at Northeast Insurance Advisors LLC today. We proudly serve the greater Easton, PA Area.
