Common Misconceptions About Insurance for Homeowners by Cassie Bouldin
After hurricane Katrina ravaged New Orleans many homeowners felt abandoned by insurance companies. Because of common misconceptions, thousands of faithful insurance customers paid monthly premiums year after year without fully understanding their insurance policy. So, what should you watch for when insuring your home?
(PRWEB) August 22, 2006 -- Sign the dotted line, pay your bills on time each month, and protect your home from a natural disaster. It sounds easy. Unless of course, you forget to purchase insurance for damage caused by floods, winds or mold.
“Because of Hurricane Katrina, people who live in hurricane-prone areas are taking a second look at their insurance policies,” says the owner of Central Insurance School Diana Fink.
After hurricane Katrina ravaged New Orleans many homeowners felt abandoned by insurance companies. Because of common misconceptions, thousands of faithful insurance customers paid monthly premiums year after year without fully understanding their insurance policy.
“Many people didn’t know that standard homeowner’s policy does not cover flood damage,” says Fink who has more than 35-years of experience in the insurance adjusting industry.
Other common misconceptions about insurance policies include the following.
-Above ground pools, sheds, and detached garages are only insured if the policy covers detached structures.
-Property insurance often provides only limited coverage for items like furs, jewelry, and electronics.
-Plants in the yard are not considered part of the insured structure, so if they need to be replaced or removed it is the homeowner’s responsibility.
“The best way to protect yourself from disaster is to ask your insurance agent which items are covered by your policy,” says Fink, who hopes to inspire homeowners to prepare for the worst.
Unsuspecting homeowners could be devastated if caught off guard by recent trends, which impact major areas of coverage. One such trend excludes coverage for damage caused by mold or fungus. Another problem is the lack of coverage for wind damage in states like Florida.
However, there are solutions for those in need.
Flood coverage is available through the National Flood Insurance Program. And in states where homeowners have difficulty obtaining wind insurance state-run pools of last resort may be available to homeowners.
“People think that because they have insurance they won’t have to worry about anything after a storm, but that’s not true,” says Fink who has trained thousands of insurance adjusters during the last decade.
For this reason, many people who live in storm prone regions are taking a closer look at their own insurance policies to be sure they’ll be covered for every scenario this hurricane season.
For more information on Diana Fink or on Central Insurance School, please go to www.centralinsuranceschool.com or call 800-571-2003.
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