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3 Things People Often Get Wrong About Home Insurance

Posted by admin
June 14th, 2022

3 Things People Often Get Wrong About Home Insurance

Buying a home is one of the most important investments you’ll ever make in your life. This is why most people who buy houses will take out insurance to protect them. You should know, however, that many misconceptions are floating around about home insurance, and not understanding how home insurance works could have disastrous consequences. It could lead you to invalidate your claim by accident, for instance, or assume that you’re covered for certain things when you aren’t. Here are some of the things most people often get wrong about home insurance.

There’s No Point in Shopping Around Since Rates are Pretty Much Fixed

This is just plain wrong. The difference in home insurance quotes can vary greatly depending on who you work with. But you have to be careful not to pick the cheapest one because of the price only. You need to look at policies in detail and compare them before you decide to go with an insurer. We would suggest that you check a few home insurance comparison sites before you choose a policy. Home insurance comparison sites will allow you to compare quotes and policies right on the spot. Some of them will even allow you to sign up from their site using a simple form.

Your Lifestyle Has No Influence on Your Coverage

Most people understand that making certain modifications to their house could invalidate their insurance policy, but there are also lifestyle-related actions that could invalidate it as well. Did you know that you have to notify your insurer if you are thinking of leaving your home for more than 30 days? If you don’t do that, then you will not be covered against robberies, and you might not be able to claim for damage. So, if you’re living a semi-nomadic lifestyle, you’ll need to consult with your insurer to know their rules so you can abide by them.

Another thing that will surprise you is that some insurers will penalise you if you “advertise” that you are away from your home. This means that something as seemingly benign as posting photos of a trip on social media could void your cover. This might seem harsh, but this is something insurance companies are allowed to do as long as it’s in the contract, so make sure that you review it thoroughly and go for a company that will be a bit more lenient if you like sharing.

I’m Covered Against Floods and Sewer Backups

One of the saddest things is when people become victims of a flood and call their company only for them to say that they’ll have to cover the costs. Floods are not always included in home insurance policies, which is another reason why you must double and triple-check your contract before you sign. Coverage for sewer backups is even rarer and is usually optional. So, if you’re worried about backups or the area you are thinking of buying the house in is known for that, see if the insurer you are thinking of using offers coverage.

These are some of the common myths that should be dispelled about home insurance right away. Take the time to learn how it works before you start house hunting and choose your insurer wisely

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