While nearly all homeowners in the Atlus, OK have insured their homes, there are many misconceptions around home insurance. You’ve probably come across numerous information when shopping for your home insurance — both helpful and not so helpful information. But how do you know what’s true? At Dobbs & Braddock Inc, we have broken down four common myths about home insurance to equip you with correct information.
- Home insurance is not worth the expense: Do you know that one event is enough to wipe out your entire investment? Why then should you not safeguard your home? If anything damages your home, you will be glad you had insured your home. Otherwise, you will have to finance the repairs or rebuilding from your pocket.
- Home insurance only protects your belongings and property: The truth is that home insurance protects more than your belongings and property. For example, it provides liability coverage, including bodily injury and property damage to other people. Besides, it covers additional living expenses when a covered peril destroys your home.
- Home insurance isn’t required: While homeowners insurance is not required by law, mortgage lenders require home insurance before advancing the loan.
- Home insurance covers everything: While home insurance covers most perils, it has exclusions. Typical home insurance doesn’t cover damage resulting from pest infestation, normal wear and tear, war, and flood damage. Additionally, home insurance provides little protection for high-value items like art, jewelry, and silverware.
To be on the safe side, talk to your home insurance agent to understand what is covered and not covered to avoid surprises when the unexpected occurs.
Home insurance in Oklahoma
As you can see, there are many myths surrounding home insurance. However, shopping for one with the help of a professional will help a great bunch. Please contact Dobbs & Braddock Inc for affordable coverage that suits your need. Additionally, we are a call away to help you bust all home insurance myths that come your way.