Avoid These Common Homeowners Insurance Mistakes

Avoid These Common Homeowners Insurance MistakesHomeowners’ insurance mistakes are common. Avoid the mess by preparing yourself on what to expect and what you may need coverage for from the beginning. It is crucial for homeowners to insure their homes properly; otherwise you may find yourself in an unfortunate situation. Easily bypass mistakes by simply learning what to look out for.


Insurance was created to cover the cost of rebuilding, not for the sales cost of the home. One of the most common mistakes that homeowners make is not ensuring they have plenty of insurance to cover them if something major was to happen. It is important to be prepared if your house was to be destroyed. Ask your insurance agent or take advantage of a home-replacement cost estimator to learn the cost of rebuilding your home. Using a professional cost estimator may provide a more accurate number. Some individuals make the mistake of insuring their home for the real estate value rather than the cost of rebuilding, but you should never base your coverage on what the real estate market is doing.

Failing to Customize

There are likely particular hazards that are unique to your area, so it is smart to customize your policy. For example, if an individual lives in a flood zone, it would be beneficial to purchase flood insurance, because flood damage is not generally included in an homeowners plan. It is such a common misconception that you are automatically covered for occurrences such as floods, earthquakes, mold, and sewage backup, but that is not always the case, so it would be wise to know where your coverage lies and where you’re exposed. Take into account your personal situation and customize your coverage. Try to avoid any assumptions and be sure to ask your agent if you are unsure of what is covered or what coverage is important in your area.

Believing You Have a Fixed Deductible

Avoid the common mistake of assuming your maximum out-of-pocket cost would be the amount when you bought your policy. In the case of major weather events such as storms and earthquakes, the deductible often becomes a percentage of your coverage. It may end up being anywhere from 1 to 15 percent of the insured value. This could mean there is a higher deductible than anticipated. If you get hit with damage, you may find you have acquired a deductible when you file your claim. Most people assume their deductible is fixed in all cases, but you should ask your agent about any changes in deductible amounts relating to the type of claim filed.


About Byrnes Agency

At Byrnes Agency, we offer auto insurance solutions that can be tailored to meet your specific needs. Whether you have an old classic car or a brand-new model, we have the right coverage for you. To learn more about our products, contact us today at one of our two locations.

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Dayville Office

Phone: (860) 774-8549

394 Lake Rd

Dayville, CT 06241

United States


Hours of Operation: Monday- Friday 9:00am-5:00pm

Norwich Office

Phone: (860) 886-5498

6 Consumers Avenue

Norwich, CT 06360

United States


Hours of Operation: Monday- Friday 9:00am-5:00pm

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