Killingly CT Homeowners Insurance: Misconceptions about Home Insurance

Killingly CT Homeowners Insurance Misconceptions about Home InsuranceKillingly CT Homeowners Insurance: Misconceptions about Home Insurance


Flood damage is covered by standard homeowners insurance. Home insurance does NOT cover flood damage. A separate flood insurance policy must be purchased in additional to your Killingly CT homeowners policy in order to be covered.

Note: Flood insurance is only for those who live in flood zones. Floods can happen anywhere, not just in a flood zone. Your insurance coverage should reflect that.

Homeowners insurance covers all valuables, including jewelry and fur. Home insurance has a capped limit on the amount of coverage for valuables. If you have possessions, such as jewelry, art or furs that are worth more than the amount, you should purchase additional coverage.

Home insurance is based on the purchase price of your home. False. Your home’s coverage should be based on the replacement cost of your home- how much it would be to rebuild your home or repair it with the cost of materials today.

Home insurance pays for mold damage. A standard homeowners policy does not cover mold damage or damage related to a lack of maintenance. Be sure to talk to your local Killingly CT insurance agent for more info

I will have to skimp on my coverage in order to save money on my home insurance. You should never compromise on home insurance coverage. There are some ways that insurance companies will help you save money, including installing home alarms and burglar systems, or combining your home and auto insurance policies.

If my home is ever lost, my insurance company will reimburse me for whatever I tell them I owned at the time of the loss. If your home is lost, you will most likely be asked to make a list of everything you own, including specific details such as date of purchase, serial numbers, etc. The easiest way to do this is to create and maintain a home inventory sheet ahead of time. Keep it in a fire proof safe or at a friend’s house so it is still around if you ever need it.

At the Byrnes Agency, we can help you decipher the ins and outs of New London County homeowners insurance policies.  We work with some of the most respected carriers in the country and can provide you with comprehensive Connecticut homeowners insurance at competitive price. Contact us today for more information about our homeowners insurance policies.