3 Home Insurance Myths: BUSTED

Submitted by BlockInsurance on Thu, 09/19/2019 - 14:15

Home insurance can feel very complicated, and there are many home insurance myths you should be wary of. Don't worry, we're here to bust those myths for you. Around here, we like to say, "the more you know about your coverage, the better off you are!"


 

MYTH #1: I SHOULD INSURE MY HOME FOR ITS MARKET VALUE

Debunked:

Rather than insuring your home for its market value, insure it for its replacement cost. That means you're taking all of these expenses associated with rebuilding your home, such as construction cost and building materials, into account. Insuring your home for its market value may not give you the coverage you actually need to build your home from the ground up. 

 

MYTH #2: HOME INSURANCE ISN'T WORTH IT - IT'S A WASTE OF MONEY

Debunked:

Home insurance is a financial safety net that will help you protect your investment in your house. Consider the whopping cost of rebuilding your home, or even repairing it after a tree crashes through the roof. It might seem like a lot of money for something that seems invisible - your can't eat, wear, or install home insurance, after all - but having the right home insurance can make a HUGE difference if you ever have a loss. 

If you are worried about the cost, get multiple quotes and see what works best for your budget! Lucky for you, Block Insurance is one-stop shopping. We can offer you multiple quotes from our many carriers. Give us a call ;)

 

MYTH #3: ALL MY BELONGINGS ARE COVERED

Debunked: 

Now don't get me wrong, home insurance protects your personal belongings. But you really do need to read your home insurance policy carefully to see what the limits are and what losses are covered. {Have questions about your limits or what's covered, give us a call} For example, jewelry and valuables may only have a small amount of insurance - an amount that won't fully cover them. You might have to add extra coverage for jewelry, valuables, or collections.

Yes, Block can handle that for you too!

 


These are three home insurance myths you should be aware of. If you have any questions at all, please give us a call or drop by and see us at any of our locations!

We're always here to help!

 

As always, thank you for taking time off the clock with Block!