Top Insurance Myths - Part Two
Article originally published on TrustedChoice.com
Continued from our last Newsletter... Insurance is sometimes misunderstood, and it can be a complicated topic. It is important to be educated about the different types of insurance out there, but sometimes it can be difficult to distinguish the truth from myths.
MYTH #5 – “If I have homeowners insurance, all my belongings are covered automatically.” Some homeowners assume that their homeowners insurance covers the entire house and everything in it. Unfortunately, it’s not that easy. Higher-value items, like electronics and appliances, will need to have the serial number included. To ensure you get reimbursed for your losses, keep an ongoing list of all your belongings. Take pictures of your things and remember to include details like serial numbers or receipts when you go through the scheduling process with your insurance company.
MYTH #6 – “A red car will cost more to insure.” No one knows exactly how this myth started, although it may be due to the bright color of red cars standing out in traffic. It could also be that scientists have proved that color has a direct effect on mood. The truth of the matter is that owning and insuring a red car will not cost you any more then insuring a blue or green car. What is going to affect your auto insurance premium is your driving history, the age of your vehicle, and the make and model of your car.
MYTH #7 – “I don’t need flood insurance if I don’t live near the water.” Flood insurance is not required in some areas, so you may believe that you don’t need this protection if you don’t live near a body of water. Even if you don’t live in a flood plain, it’s a good idea to carry flood insurance. Flooding can happen anywhere, whether you live on the ocean or in the desert. Things like strong rains or problems with water systems can cause flooding, no matter if you live near a large body of water or not.
MYTH #8 – “Obamacare means I can’t keep seeing my current doctor.” This is simply not true in most cases. With all the plans available, it is very likely that your current provider is covered under one of them. This is also a place where an independent insurance agent can be helpful, as they work with several insurance companies and can shop around to help you find the coverage you want. To be fully protected from life’s unexpected surprises, use insurance to your advantage and stay educated about the truths and myths surrounding it.
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