Homeowners insurance is one of the most misunderstood types of personal coverage. Many people assume their policy covers everything, and this misunderstanding often leads to frustration when a loss occurs. For example, standard home insurance does not cover flood damage, foundation movement due to soil settling, or maintenance-related issues like wear and tear.
Another common myth: believing the dwelling limit equals the market value of your home. In reality, the dwelling limit is based on the cost to rebuild, not what the home would sell for. With construction prices rising, underinsuring your home could mean significant out-of-pocket costs after a disaster. Reviewing your policy annually and understanding your coverage limits can save you money—and headaches—when it matters most.
If you’re unsure whether your home is properly insured, contact our agency for a personalized home policy review. We’re here to guide you. (210) 380-4933