Common Home Insurance Myths Debunked

Homeowners Insurance Facts

Even though homeowners insurance is one of the most common types of insurance policies, it is also one of the most misunderstood. Many people believe that once they invest in a home insurance policy, they are covered from any peril. Make sure that you know the truth about these common home insurance myths to ensure that you find the right amount of coverage for your needs.

• Replacement cost – if any of your belongings are damaged or destroyed during a covered peril, the replacement cost clause in your home insurance policy will cover the cost to replace the item with a new model that has similar features, no matter what condition the item was in before the damage occurred.
• Loss of use coverage – if you are not able to stay in your house while it is being repaired, your loss of use coverage will cover your costs to rent a hotel or apartment while your house is being fixed. Keep in mind that loss of use coverage has strict limits of how much your policy will pay for and for how long.
• Floods – typical homeowners insurance policies will not provide any coverage for damage that is done to your house during a flood. Only a specific flood insurance policy will provide coverage. It is important to keep in mind that flood insurance policies have a 30 day waiting period before they will start providing coverage, so the sooner you invest in a policy, the sooner you will be protected.

When looking for the right homeowners insurance policy to properly protect your house, contact All Nevada Insurance in Las Vegas, Nevada. As an independent insurance agency, we will work with you to make sure that you have the coverage that you deserve, all at the right price to fit your budget.