Popular on TelAve
- The Right Reverend Mariann Edgar Budde, Bishop of the Episcopal Diocese of Washington, Joins Seabury Resources for Aging® Board of Governors
- Matt Stuckert Joins Lineus Medical Board of Directors
- 35th Annual Safe Sober T-Shirt Design Contest Winner Announced at Career Center High in Winston-Salem, North Carolina
- DivX Unveils Enhanced Guide on Converting MOV to MP4 for Effortless Video Conversion
- SourceCode Expands AI Factory Offerings with Atlas AI Ignite at GTC 2025
- Expansive Estate in South Texas Seeks New Vision, 147 Acres Up for Grabs
- Events by Dubsdread Unveils the 2025 Orlando Wedding Pricing Guide
- Aterna AI Unveils AI Trading System with 67% Annual Returns for Career-Focused Professionals
- MANE DRINK to Launch Lion's Mane Mushroom Coffee in April — Pre-Orders Now Open for Nootropic Cold Brew
- Webinar Announcement: AI Governance: Balancing Innovation and Responsibility
Similar on TelAve
- Corcoran DeRonja Real Estate Welcomes Mechelle Fuquay as Its Newest Broker
- Countertop Pro GTA Launches Full-Service Kitchen Remodeling in Greater Toronto
- For Saving Home Services Inc. Helps GTA Homeowners Save with Heat Pump Rebates
- Fromms Pest Control Launches New User-Friendly Website to Enhance Customer Experience
- Hardwood or Tile? A Homeowner's Guide to Choosing the Right Flooring
- Volante of Hanover Expands with the Opening of Its Second Building, Introduces Assisted Living Services
- All me - secure anonymous social - kickstarter crowdfunding
- HomeFortis Launches Target Hardening Guides for Home Security
- Introducing HOME-OMETRY, the Social Media Network for Real Estate
- A Look Back at Our 2024 Accomplishments: Complete Sliding Doors & Windows Continues to Lead with Excellence
Home Insurance Myths That Cost Unknowing Homeowners
TelAve News/10851583
LOS ANGELES - TelAve -- Myth #1: Flood and Water Damage Are Covered by Home Insurance
While certain types of water damage caused by sudden water heater leaks and burst pipes are covered by homeowners insurance, flooding caused by a storm is not. You are only covered for a flood with a separate flood insurance policy. If the source of the flood was an earthquake, you'd be covered with a flood insurance policy, not an earthquake insurance policy, which is also separate from a home insurance policy.
Myth #2: Having a Dog Won't Affect Home Insurance
Certain aggressive breeds of dogs (Rottweilers, Pit Bull Terriers, Bullmastiffs and more) are excluded in a home insurance policy and may cause an insurer to deny you coverage altogether. The reason is that homeowners insurance has a liability component to it, and if your dog bites a visitor, the medical bills are covered. The higher the risk that claims will be filed are enough reason for a company to reject you.
Myth #3: Home Insurance Only Covers Possessions in the Home
More on TelAve News
In addition to your possessions kept at a residence, a home insurance policy will also cover personal belongings in a storage facility and even items like a bicycle or laptop, if they are stolen while you're not home or if stolen from your car. This "off-premises" or "off-property" coverage of a policy covers roughly 10% of your personal property coverage maximum. If you have $100,000 in property coverage, you'll have $10,000 worth of coverage for items damaged, destroyed or stolen away from your home.
Myth #4: Home Insurance Companies Don't Look at Your Credit Score
In California, Hawaii, Maryland, Massachusetts and Michigan homeowners insurers cannot use your credit score (also called FICO score) to determine an insurance score. However, in most states they do, and it can really impact the cost of coverage. You may be paying up to 70% more in premiums due to history of unpaid bills, large debts, multiple types of credit, and the length of your credit history. To improve your credit and lower your insurance costs, pay off debts that are in collections and pay down debt. Also, stop signing up for new credit cards, because too many credit lines also negatively affect your credit score...
For the next 22 myths visit https://smartfinancial.com/homeowners-insurance-myths
While certain types of water damage caused by sudden water heater leaks and burst pipes are covered by homeowners insurance, flooding caused by a storm is not. You are only covered for a flood with a separate flood insurance policy. If the source of the flood was an earthquake, you'd be covered with a flood insurance policy, not an earthquake insurance policy, which is also separate from a home insurance policy.
Myth #2: Having a Dog Won't Affect Home Insurance
Certain aggressive breeds of dogs (Rottweilers, Pit Bull Terriers, Bullmastiffs and more) are excluded in a home insurance policy and may cause an insurer to deny you coverage altogether. The reason is that homeowners insurance has a liability component to it, and if your dog bites a visitor, the medical bills are covered. The higher the risk that claims will be filed are enough reason for a company to reject you.
Myth #3: Home Insurance Only Covers Possessions in the Home
More on TelAve News
- FOX21's Living, Loving, Local Featured The Pet Gal—Now Your Morning Show Can Too!
- BSTR Miner launches the 'zero-cost mining revolution
- Mining contracts from $12: How to invest and earn passive income with mining
- Unlock the Future of Cybersecurity at the OpenSSL Conference 2025 in Prague
- Mint Service Desk to Showcase Innovative ITSM Solutions at SITS 2025
In addition to your possessions kept at a residence, a home insurance policy will also cover personal belongings in a storage facility and even items like a bicycle or laptop, if they are stolen while you're not home or if stolen from your car. This "off-premises" or "off-property" coverage of a policy covers roughly 10% of your personal property coverage maximum. If you have $100,000 in property coverage, you'll have $10,000 worth of coverage for items damaged, destroyed or stolen away from your home.
Myth #4: Home Insurance Companies Don't Look at Your Credit Score
In California, Hawaii, Maryland, Massachusetts and Michigan homeowners insurers cannot use your credit score (also called FICO score) to determine an insurance score. However, in most states they do, and it can really impact the cost of coverage. You may be paying up to 70% more in premiums due to history of unpaid bills, large debts, multiple types of credit, and the length of your credit history. To improve your credit and lower your insurance costs, pay off debts that are in collections and pay down debt. Also, stop signing up for new credit cards, because too many credit lines also negatively affect your credit score...
For the next 22 myths visit https://smartfinancial.com/homeowners-insurance-myths
Source: SmartFinancial
0 Comments
Latest on TelAve News
- Unlock the Benefits of Buying a Jersey Shore Home in Today's Market
- Arlington, VA -Based Event Staffing Agency Offers Specialized Trade Show Support for Data Center World 2025 Exhibitors
- Jumpstart Summer Adventures at the Y
- 23rd State Unveils SHAKE Glitter Drops – A Dazzling Innovation in Infused Beverages
- DMV Native And Eight-Time Emmy Winner Justin W. Brown Directs A Moving Tribute To A Community's Legacy
- Robotphoenix to Jointly Exhibit with DERI SRL at IPACK-IMA 2025 in Milan
- $283.2 Million; $1.40 Per Share in Revenue Reported for 2024 Fueling Impressive 96% Growth for High Tech AI Boosted Marketing Company: iQSTEL $IQST
- Wohler adds two new 12G SDI monitors to their successful range of audio & video monitors, coupled with the launch of four monitors with GPI/O support
- Aquia Nava II LLC Named Prime Awardee on VA's $42.7M Disability Benefits Crew Contract
- Digital Watchdog Collaborates with Allied Telesis to Offer Dedicated Plugin for DW Spectrum
- Citizens For West Virginia Election Integrity & Election Integrity Network Unite to Advocate for the SAVE Act and Secure U.S. Elections
- Charming Ogawamachi Town, in Saitama Prefecture, Japan, Announces Festivals for 2025
- Meritum Consulting Welcomes New Partners, Poised for Major Growth in 2025 and Beyond
- Sperry Commercial Global Affiliates Expands Investment in Buildout, Bringing Transaction Management to U.S. Affiliates
- Hitachi Construction Machinery Americas Announces New Executive Team
- CCHR and Electroshock Survivors Honored with Award for Community Efforts
- RE-FOCUS THE CREATIVE OFFICE Proudly Recertified WBENC Women Owned Business
- ILTexas Begins Development of New High School In Colony Ridge Communities
- Spaceflight-Ready PV Blankets Delivered for European Space Mission in Record Time, Plus Milestone Order Received: Ascent Solar (Stock Symbol: ASTI)
- Bhavik Sarkhedi and Sahil Gandhi Form Alliance to Bridge Personal Branding, SEO, and Corporate Brand Strategy