Myths about Home Insurance

It’s important to read the fine print for home insurance in Dallas, TX, but it’s also important to know the myths about home insurance. This way, you can get the right coverage.

Myth 1: Home Insurance Is Required

Your mortgage company may require you to have home insurance in Dallas, TX, but the law does not. However, not having home insurance can be very costly in the event that there is a disaster.

Myth 2: All of Your Belongings Are Covered

A homeowner’s policy will not cover everything, and the policy will clearly state what is covered and what isn’t. If you have valuable art or jewelry in your home, it may not be covered by a basic policy and you may need additional coverage. Speak with an agent at Alloy Insurance Partners to make sure you have coverage for all your valuables.

Myth 3: All Injuries in the Home Are Covered

If a visitor gets injured at your home, then the liability protection of your insurance will kick in and pay for claims that are filed. However, if you or a family member gets injured by falling down the stairs or slipping in the kitchen, your home insurance will not pay for these injuries. Instead, you will have to rely on your health insurance.

Myth 4: A Home Business Is Covered

Your business liability and business equipment are not covered under a home insurance policy. If you have a home-based business, you will need a separate policy that covers the company. You may be able to attach a business rider to your existing home insurance for a cheaper rate.

Myth 5: My Home Is Covered in the Event of a Flood

Floods are not covered under a standard home policy. If you live in a flood zone, you need a separate policy to cover floods.

Contact Alloy Insurance Partners to get a quote on home insurance.