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If you have a mortgage, your lender probably requires you to carry homeowners insurance. Unfortunately, there are a lot of myths and misconceptions about this crucial policy; many people only find out what's covered when their claim is denied. Somers Agency LLC, an insurance company serving clients throughout Northeast Ohio, knows how complicated homeowners insurance policies can be, so they'd like to clear up the confusion by busting some common myths.

The Insurer Will Offer You A Low Settlement, So You Should Inflate Your Damages

According to the experts at Somers Agency, this is a very bad idea. The insurance adjuster will have the industry expertise to spot inconsistencies in your story. If they suspect that you're being less than honest, they may question every aspect of your claim, leading to delays and a potential denial of your claim.

You'll Be Covered For Injuries You Sustain At Home

imageMany people believe that the liability insurance that protects guests who get hurt on your property extends to you, the homeowner. Unfortunately, this is not the case. Your injuries will have to be covered by your own health insurance.

Your Policy Should Be Based On Market Value

Depending on the state of the market where you live, the purchase price of your home may be much higher or lower than what it would cost to rebuild it if it were destroyed. In almost any case, basing your homeowners insurance policy on the replacement value is the better deal, ensuring that you're protected without overpaying on premiums.

Somers Agency LLC's insurance agents have the expertise to provide the best homeowner's insurance policy for your needs, along with a wide range of products from some of the top carriers in the nation. Visit their website to learn more about their sterling reputation for excellent service and range of products, or call Dan or Lorenzo at (440) 324-3447 to schedule an appointment today.

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