Home insurance is one of those things that most people know they need, but don’t really understand. There are a lot of myths out there about home insurance so we’re here to set the record straight. Here are the most common myths about home insurance debunked by L M Insurance & Financial Services LLC in the Bronx, NY.

Demystifying Home Insurance

Myth One: Home Insurance Covers Flood Damage

Many homeowners are wondering if their home insurance will cover flood damage. Unfortunately, most policies exclude flood damage from coverage. Homeowners who live in high-risk flood zones are required to purchase a separate flood insurance policy to be protected from flooding. Even if you don’t live in a high-risk area, it’s a good idea to purchase flood insurance because any home can be flooded.

Myth Two: Home Insurance Isn’t Necessary

Homeowners insurance is the most essential type of insurance to have. It covers your home and possessions from damage or loss due to fire, wind, hail, vandalism, theft, and more. Most people could not afford to pay out of pocket should their homes and possessions be damaged or destroyed. Home insurance is one of the best and easiest ways to protect your home, family, and personal belongings.

Myth Three: Maintenance Repairs Are Covered By Home Insurance

One of the most common myths about home insurance is that maintenance repairs are covered. Unfortunately, this is not the case. Home insurance policies typically only cover damages that are caused by events that are out of your control, such as fires, storms, and burglaries. So if your roof needs to be replaced due to wear and tear, you will likely have to pay for it yourself.

Contact Us Today

Are you searching for more information on home insurance in the Bronx, NY? Call L M Insurance & Financial Services LLC today. We are available to answer any questions you may have about home insurance and can help you get the right coverage for your needs.