Demystifying Common Home Insurance Myths

When shopping for home insurance in Columbia, SC, you are likely to come across numerous pieces of information — and truthfully, not all of that info is entirely true. Like most topics, myths have crept into home insurance, making it challenging for homeowners to make an informed choice when purchasing this coverage. 

With this in mind, Higgins & Halloran is here to set the record straight by debunking common home insurance myths. 

Myth#1: Home insurance all risks

While your home insurance shields you and your home against numerous perils, it has exclusions. Typical home insurance is likely to exclude the below risks:

  • Floods
  • Earthquakes
  • Pest and mold infestation
  • Regular wear and tear
  • Government actions
  • Sewer backup
  • Intentional damage

However, the good thing is that you can boost your home insurance coverage with add-ons (endorsements) for some risks excluded.

Myth#2: Home insurance covers your assets only

Another half-truth. Whereas home insurance covers your building and its contents, this coverage is broader than this. Home insurance provides liability protection when accused by others of property damage and bodily injury. Besides, home insurance covers you when a covered peril destroys your home, becoming unlivable. In this case, home insurance pays for expenses beyond your everyday living expenses.

Myth#3: Home insurance is required by law

Home insurance isn’t required by law in any of the American states. However, if your house is under a mortgage, your lender may require you to purchase basic home insurance. 

Myth#4: Home insurance is expensive

This notion is common with persons discouraging you from investing in home insurance — but it’s a lie. While home insurance doesn’t come free, the cost isn’t as exaggerated as some folks put it out there. Although the cost of home insurance varies, most of the time, it’s manageable. And a better way to view it is considering the amount of loss that home insurance saves you when perils strike.

Learn more about home insurance

Need more information about home insurance? You are on the right page. Please get in touch with Higgins & Halloran of Columbia, SC, and one of our agents will answer queries you might have.

Read More

When shopping for home insurance in Columbia, SC, you are likely to come across numerous pieces of information — and truthfully, not all of that info is entirely true. Like most topics, myths have crept into home insurance, making it challenging for homeowners to make an informed choice when purchasing this coverage. 

With this in mind, Higgins & Halloran is here to set the record straight by debunking common home insurance myths. 

Myth#1: Home insurance all risks

While your home insurance shields you and your home against numerous perils, it has exclusions. Typical home insurance is likely to exclude the below risks:

  • Floods
  • Earthquakes
  • Pest and mold infestation
  • Regular wear and tear
  • Government actions
  • Sewer backup
  • Intentional damage

However, the good thing is that you can boost your home insurance coverage with add-ons (endorsements) for some risks excluded.

Myth#2: Home insurance covers your assets only

Another half-truth. Whereas home insurance covers your building and its contents, this coverage is broader than this. Home insurance provides liability protection when accused by others of property damage and bodily injury. Besides, home insurance covers you when a covered peril destroys your home, becoming unlivable. In this case, home insurance pays for expenses beyond your everyday living expenses.

Myth#3: Home insurance is required by law

Home insurance isn’t required by law in any of the American states. However, if your house is under a mortgage, your lender may require you to purchase basic home insurance. 

Myth#4: Home insurance is expensive

This notion is common with persons discouraging you from investing in home insurance — but it’s a lie. While home insurance doesn’t come free, the cost isn’t as exaggerated as some folks put it out there. Although the cost of home insurance varies, most of the time, it’s manageable. And a better way to view it is considering the amount of loss that home insurance saves you when perils strike.

Learn more about home insurance

Need more information about home insurance? You are on the right page. Please get in touch with Higgins & Halloran of Columbia, SC, and one of our agents will answer queries you might have.

What DOESN’T Homeowners Insurance Cover?

There’s no doubt that homeowners insurance is indeed a necessity. In fact, if you have a mortgage, it’s probably a requirement. However, homeowners insurance will not cover any and everything that could affect your home. As a homeowner, it’s a good idea to familiarize yourself with situations and circumstances where your homeowners’ insurance may not provide coverage. 

What Does Homeowners Insurance Typically Cover?

Homeowner’s insurance usually covers destruction to the inside and outside of your home. It also covers theft and the loss of your possessions, as well as personal liability for injury to others when they are on your property. Homeowner’s insurance coverage usually includes cash value, replacement cost, and the extended replacement cost to replace or repair something. 

Homeowners Insurance Typically Won’t Cover

As a homeowner, your insurance won’t usually cover termite damage or damage caused by bird or rodent damage. It doesn’t cover the normal wear and tear of your home or damage caused by smoke or other agricultural operations or situations. Homeowner’s insurance doesn’t always cover flood damage or flooding. In some cases, it may be necessary to purchase flood insurance separately. Also, poorly made or defective items aren’t covered as well. Typically, homeowners shouldn’t expect their insurance policy to cover damage caused by combined stormwater or raw sewage pipelines. Damage caused by expansive tree roots and outdated sewer systems isn’t usually covered either.  Our team of agents at Higgins & Halloran of Columbia SC are committed to helping homeowners understand what their homeowner’s insurance will and won’t cover. We understand that under some circumstances, additional insurance coverage may be needed. However, we are committed to helping homeowners develop a fundamental understanding of homeowners insurance. Give us a call. We’re standing by.

Read More

There’s no doubt that homeowners insurance is indeed a necessity. In fact, if you have a mortgage, it’s probably a requirement. However, homeowners insurance will not cover any and everything that could affect your home. As a homeowner, it’s a good idea to familiarize yourself with situations and circumstances where your homeowners’ insurance may not provide coverage. 

What Does Homeowners Insurance Typically Cover?

Homeowner’s insurance usually covers destruction to the inside and outside of your home. It also covers theft and the loss of your possessions, as well as personal liability for injury to others when they are on your property. Homeowner’s insurance coverage usually includes cash value, replacement cost, and the extended replacement cost to replace or repair something. 

Homeowners Insurance Typically Won’t Cover

As a homeowner, your insurance won’t usually cover termite damage or damage caused by bird or rodent damage. It doesn’t cover the normal wear and tear of your home or damage caused by smoke or other agricultural operations or situations. Homeowner’s insurance doesn’t always cover flood damage or flooding. In some cases, it may be necessary to purchase flood insurance separately. Also, poorly made or defective items aren’t covered as well. Typically, homeowners shouldn’t expect their insurance policy to cover damage caused by combined stormwater or raw sewage pipelines. Damage caused by expansive tree roots and outdated sewer systems isn’t usually covered either.  Our team of agents at Higgins & Halloran of Columbia SC are committed to helping homeowners understand what their homeowner’s insurance will and won’t cover. We understand that under some circumstances, additional insurance coverage may be needed. However, we are committed to helping homeowners develop a fundamental understanding of homeowners insurance. Give us a call. We’re standing by.

What Does Home Insurance Cover?

Home insurance is an investment for your house. When you have purchased your first home and have taken out a loan for it, your home will be something you will want to protect and defend. One of the best ways to do that is through a home insurance policy. The agents and staff at Higgins & Halloran in Columbia, SC understand the importance of having the correct insurance policy to keep your home safe and sound.

What is Home Insurance and What Does It Cover?

Home insurance is a type of coverage that will replace your home or help pay for the necessary repairs to it if a fire, vandalism, or damage, such as a tornado or windstorm, occurs. You never know what life will throw at you, so it is better to be safe than sorry. A home insurance policy will also cover your belongings, including your furniture and appliances, if one of these situations occurs or if your home is broken into and items are stolen or damaged.

Home insurance will also cover the medical bills and lost wages of a guest to your home who is injured due to some mishap. For example, if someone falls down the stairs of your front porch as they are leaving and they break their arm, your home insurance policy will cover their medical bills and hopefully will allow you to not only avoid a lawsuit but keep the friendship.

Other Coverages of Home Insurance

Normally, your home insurance policy will also cover outbuildings on your property, including your garage and shed, if there is a natural disaster, fire, theft, or vandalism.

If your home were purchased by borrowing the money from a bank, mortgage company, or another lender, you would be required to have home insurance. Even if your home is free and clear, you will want to protect it by obtaining a basic home insurance policy. There are also many other add-ons or policies you can obtain for your home and property, but you can make those decisions with an experienced home insurance agent.

To obtain a home insurance policy in Columbia, SC, call upon the agents at Higgins & Halloran today to get your policy underway. Also, try our online rating tool for a quote from home.

Read More

Home insurance is an investment for your house. When you have purchased your first home and have taken out a loan for it, your home will be something you will want to protect and defend. One of the best ways to do that is through a home insurance policy. The agents and staff at Higgins & Halloran in Columbia, SC understand the importance of having the correct insurance policy to keep your home safe and sound.

What is Home Insurance and What Does It Cover?

Home insurance is a type of coverage that will replace your home or help pay for the necessary repairs to it if a fire, vandalism, or damage, such as a tornado or windstorm, occurs. You never know what life will throw at you, so it is better to be safe than sorry. A home insurance policy will also cover your belongings, including your furniture and appliances, if one of these situations occurs or if your home is broken into and items are stolen or damaged.

Home insurance will also cover the medical bills and lost wages of a guest to your home who is injured due to some mishap. For example, if someone falls down the stairs of your front porch as they are leaving and they break their arm, your home insurance policy will cover their medical bills and hopefully will allow you to not only avoid a lawsuit but keep the friendship.

Other Coverages of Home Insurance

Normally, your home insurance policy will also cover outbuildings on your property, including your garage and shed, if there is a natural disaster, fire, theft, or vandalism.

If your home were purchased by borrowing the money from a bank, mortgage company, or another lender, you would be required to have home insurance. Even if your home is free and clear, you will want to protect it by obtaining a basic home insurance policy. There are also many other add-ons or policies you can obtain for your home and property, but you can make those decisions with an experienced home insurance agent.

To obtain a home insurance policy in Columbia, SC, call upon the agents at Higgins & Halloran today to get your policy underway. Also, try our online rating tool for a quote from home.