Whenever there is a truth, there is usually a lie. Wherever there is the real thing, there is a counterfeit. It's the same with insurance. Here are some myths concerning insurance.  You can't believe everything that you hear or what someone has said concerning insurance. AAA advises that you should have conversations with your insurance carrier before believing the "outhouse" lawyers that think they know.

Here are 5 myths concerning insurance that you may not have known were false.

  1. Red & Black Cars - It's been said that if you purchase a red or black automobile, then your insurance will be higher. What does impact the rates of your insurance coverage will depend upon your age, driving record, make and model of your car.
  2. Renters Insurance - There is a myth out there that renters do not need insurance because their landlord has insurance. Your landlord's insurance will typically cover the building you live in, but it doesn't cover your personal property, nor property damage or injury that may have been caused by a guest or children.
  3. Area Disasters - Another myth tooling around out there is that your homeowner's insurance will cover any and all disasters that may take place in your neck of the woods. Typically, homeowner's insurance policies won't cover every disaster that comes to your property. For instance, flood and earthquake coverage must be purchased separately.
  4. Life Insurance  - There is a myth out there that thinks that stay-at-home spouses really don't need life insurance. A stay-at-home spouse, typically, takes the kids to school and takes care of the home. In the event of an untimely death, a life insurance policy would help to off-set expenses with a life insurance policy.
  5. Personal Valuables - Just because you have home owners insurance doesn't mean that all of your personal valuables will be covered. If you have costly jewelry, you may need to take out an additional policy to cover the loss, should you be robbed.

Please be advised that we are not experts on insurance. Should you have any questions concerning these on the list, it's best to contact an expert in the field as policies and rules tend to change from time to time.

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