Home Insurance Myths You Should Stop Believing

A person placing a small wooden house with the word "INSURANCE" on top of a stack of blocks, symbolizing the importance of home insurance in securing property.

Homeowners are mostly ignorant when it comes to home insurance, and this causes them to have bad policies and waste money. Below, we deconstruct the most common home insurance myths so that you can properly insure your home.


Home Insurance Myth 1: It Covers Everything

Most policies won't pay out for flood, earthquake, or neglect damage. Read carefully terms and conditions and take out optional insurance if required.

Home Insurance Myth 2: Insure Your Home for Market Value

Use the rebuild value when you insure your home.
This is the right figure you have to use. The rebuild value doesn't include land value and is less subject to fluctuation than market value.

Home Insurance Myth 3: Renters Don't Have to Own Insurance

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