Don’t Believe These Homeowners Insurance Myths

Home insurance in CT makes sense, whether you own your home outright or are still paying it off to the lender. There are a lot of myths about homeowner’s insurance. Review your policy annually to know that you are protected against a financial disaster. Make sure you get the facts.

Myth: Use market value to insure your home.
Truth: Use the value to replace and rebuild your home. If prices are rising in your area, you might be paying too much for your insurance. Likewise, in an area that has a depressed market, if you insure your home for what it is worth, you might end up not having enough insurance to rebuild if the worst happened. It might cost more to rebuild than it would to sell the home. You have to understand the economy and your home’s value to properly insure your home without wasting premium dollars.

Discuss the replacement value of your home with your insurance company to make sure you have adequate home insurance in CT. Your home is your biggest investment. Having too little insurance is almost as bad as not having any. Make sure you get coverage for all the risks you face, floods, hurricanes, fires and accidents. Your homeowner’s insurance protects your future.

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