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.