(2) All Valuables Such As Jewelry, Guns, & Furs, etc. Are Covered In Event Of Burglary
It is one of the most popular home insurance myths about policy coverage. But, most of the policies have limited coverage for valuables above a certain limit.
For example, most insurers put a cap of $1,500 on total jewelry lost due to the act of burglary of your home. However, you may purchase additional coverage on specific valuables to cover your expensive items completely.
Similarly, insurance claim for burglary cases that may occur due to domestic help may be rejected by your insurer.
Thus, you should ideally opt for background verification check for your house maid before hiring him/her for the job post.
(3) Mold & Other Issues or Damages Due To Lack Of Maintenance Are Covered
It is one of the most surprising home insurance myths about policy coverage. Every home requires some forms of maintenance to keep it well maintained & safe for anyone living in it.
It is the major responsibility of homeowner. Therefore, your insurer may decline coverage for maintenance related claims.
Your policy coverage may provide you protection from losses caused by perils such as wind, hail, lightening, fire & theft.
Insurers typically consider mold damage as a home maintenance problem. Therefore, it is much likely to be excluded from standard policy until you prove mold damage due to a covered peril.
In such situation, some policies may cover losses up to $10,000 or more for mold damage.
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