Homeowners need to be well informed so that they understand their home insurance needs. S & S Insurance Services Inc. can provide consumers with valuable information about home insurance in Oklahoma City, OK.
The following are four common misconceptions you should know about home insurance.
Your home insurance policy will cover you for termite damage.
Termite damage can be costly, but it’s unfortunately not typically covered under a standard home insurance policy. You need to read the fine print on your policy before assuming that it will cover you for termite damage.
Your home insurance will cover the full value of your destroyed belongings within your home.
Home insurance policies will only cover your belongings up to a certain amount. If you have a lot of especially valuable items in your home, your home insurance probably won’t cover you for their full value.
Your home insurance will cover the full value of any stolen personal property.
Your home insurance policy will also be limited in terms of how much it compensates you for stolen items. Review your policy maximums to make sure that you can be fully covered for stolen property in your home.
You are legally required to carry home insurance.
While it’s always best to have home insurance, it is not usually legally required. You should be required to carry home insurance if you have a mortgage on your property. However, this is a requirement of your lender and not of the state or federal government.
Contact Us Today
Get in touch with us at S & S Insurance Services Inc. if you have questions about home insurance. We can provide you with a home insurance quote for your property in Oklahoma City, OK.
