Common Myths About Home Insurance?

If you are a homeowner and want to protect your home, the best way to do it is to get home insurance. Although this type of insurance is not mandatory in New York, many mortgage lenders still require homeowners to have it before approving them for a loan. If you are currently shopping for home insurance and you want to make sure you make an informed decision, Marenco Insurance serving New Rochelle, NY, and other surrounding areas have prepared a list of common misconceptions about this type of insurance that you should know about: 

Having an Inventory List Is Not Necessary

Actually, it is vital to have an inventory list of all personal stuff. An inventory list the proof of your ownership of all the personal belongings that you have in your house. 

Standard Home Insurance Covers Flood Damage

Unfortunately, it is not true. A standard homeowners’ insurance policy will not cover damages caused by floods. If you are located in a flood-prone area, you should consider getting a separate policy to protect your property and belongings – a flood insurance policy. 

Home Insurance covers all Personal Belongings.

Many people do not know, but home insurance has its limits. This means that only a limited amount of personal belongings will be covered. Therefore, if you have any expensive and valuable items, such as antiques and jewelry, you should purchase an additional separate policy to cover them. 

New York does not require home insurance. However, if you are a responsible homeowner, you know that this type of insurance is important because it helps protect you, your home, and your personal belongings financially. If you live in New Rochelle, NY, or any other surrounding town, do not hesitate to contact Marenco Insurance. Our experienced insurance agents will answer all your questions and provide the information you need. 

What to look for in a home insurance policy?

Owning a home can be a great idea for anyone that is looking for a long-term commitment to the place where they are going to live. When you purchase a home, there are many important responsibilities that you needed to take seriously. One important responsibility is the need to get a quality home insurance policy. There are several things that you should look for when you are choosing a new home insurance policy for your property.

Level of Coverage 

One of the first things that you need to consider when getting a home insurance policy is the level of coverage that you will receive. You will want to make sure that your home insurance policy provides you with an adequate amount of coverage for the actual property, personal liability, and your personal belongings. This process should also ensure you are getting the right coverage to comply with your mortgage loan agreement.

Risks Covered 

Additionally, you should also make sure that all relevant and necessary risks are properly covered by your policy. Your home insurance policy may not cover certain types of damage. It is important to make sure that all potential losses are properly accounted for in your home insurance policy. This can be done by either getting a more expansive policy or purchasing additional coverage.

If you would like to learn more about your home insurance options for your New Rochelle, NY area home, you should reach out to the Marenco Insurance. The professionals at the Marenco Insurance are very aware of all the benefits that come with a home insurance policy. They can help you better understand your needs and make sure that you get into a policy that provides you with the right type of protection for your New Rochelle, NY area home.