Homeowners Insurance Myths

by Administrator 28. March 2018 09:19

There are many myths and misconceptions around the topic of home insurance. These myths if not cleared can result in unwanted costs in the form of overpaying for policies and not getting the right coverage. Buying a home insurance policy is the best way of protecting your home from natural disasters and factors like theft, floods etc. The following is a list of common myths surrounding home insurance.

  1. Home Insurance Is Limited To My House Only - A home insurance policy covers your house, its contents, living expenses for an inhabitable house and personal liability exposures.
  2. Covers The Market Value Of A House - A home insurance covers the rebuilding/replacement value of a house and not its market value.
  3. Insurance For Older And Inexpensive Homes Is Cheaper - The home insurance of older homes is in fact more expensive as the chances of certain home systems to fail are higher.
  4. Home Insurance Covers Damage By Termites And Insects - Most home insurance policies generally do not cover damages by termites and insects. You will have to inquire whether the policy you have chosen covers these factors.
  5. A Home Insurance Covers The Costs Of Intentional Damage - No, it does not cover costs that ensue due to injuries or damages caused by an act which you initiated, such as a fight with someone. It only covers damage due to accidental and unintentional injury caused to someone on your property.
  6. Home Insurance Covers Costs On Upgrading My House - A home insurance does not cover any cost associated with maintaining your house. It also does not cover damages caused to the house due to poor maintenance such as mold. It can only compensate you for expenses incurred in rebuilding it in case of damage due to an unforeseen event such as fire or theft.
  7. Creating An Inventory List Of Your Possessions Is A Waste Of Time  - Homeowners insurance provides for personal property insurance and covers for the possessions within the house. So, it is important to create an inventory of all the valuable possessions in your home so that you can file a claim in case a loss arises.


For affordable home insurance in Killeen, TX, contact Shawn Camp Insurance Agency, Inc. We are located at 2705 E. Stan Schlueter Loop, Suite 101, Killeen, Texas 76542. You can also call us at (254) 526 – 0535.

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