Four Myths about Home Insurance

It can be challenging to know the ins and outs of insurance. Property insurance is no different. Whether you are a renter or a home or apartment owner home insurance policies were created to help protect one of the biggest investments that you will make in your life. But there are a few popular misconceptions about these kinds of insurance policies. To help differentiate fact from fiction when it comes to property insurance let’s debunk four myths about home insurance.

Purchasing home insurance isn’t worth it

Homeownership is a rewarding yet emotionally and financially stressful process. You’ve signed all the sales contracts and the home is finally yours but how do you protect this new major purchase? Without insurance owning a home leaves you susceptible to costs associated with damages the home may incur from natural disasters or otherwise.

To minimize the effect of these sorts of disasters on your finances it is necessary that you obtain coverage that is tailored to your specific needs. Imagine a disaster strikes and you are forced to pay out of pocket because you have no home insurance. Home insurance allows you to protect your home and personal possessions. Plan ahead and speak with a GENACTT customer service representative to get the right coverage for you and your property.

No need to create an inventory list

To file an insurance claim, you will need an inventory list detailing the items in your home. When you file a claim, you must provide a list of everything you have lost. To avoid forgetting items that you are missing, it is advised that you write your inventory list with sum insured attached.

Home insurance is expensive

Home insurance doesn’t have to be expensive. There are different types of insurance policies that can be put together to provide the right coverage for your needs. With General Accident Insurance, we offer several ways to customize your property insurance policy. Get a quote today and choose the best insurance for your home.

Home insurance will cover your medical expenses

It is important to note that in most home insurance policies in the event that you are injured in your home, your policy will not cover your medical bill. Typically, your home insurance will only cover the medical expenses of your guests who may get injured at your home or on your premises.

When you are thinking about purchasing home insurance, speak with a General Accident representative to learn the facts.