Home Insurance Myths Every Homeowner Should Be Aware Of

You may think you are pro when it comes to homeowner’s insurance, however, there may be some situations that you are completely wrong about. Here at Caliber 360, Inc., our team is here to make sure you are fully aware of the common myths that are out there. We take pride in being one of the best insurance companies near me. Take advantage of our home insurance Miami residents!


Top Insurance Myths To Be Aware Of

  • Home insurance isn’t worth it – it’s a waste of money.
    • Home insurance is a financial safety net that will help you protect your investment in your house. Consider the huge cost of rebuilding your home, or even repairing it after a tree crashes through the roof. It might seem like a lot of money for something that appears to be pretty invisible – you can’t eat, wear, or install home insurance, after all – but having the right home insurance can make a huge difference if you ever had a loss like a fire, burglary, or hailstorm.
  • I should insure my home for its market value.
    • Rather than insuring your home for its market value, insure it for its replacement cost. That means you’re taking all of the expenses associated with rebuilding your home, such as construction costs and building materials, into account. Insuring your home for its market value may not give you the coverage you actually need to build your home from the ground up.
  • All my belongings are covered.
    • Yes, home insurance protects your personal belongings. But you really have to read your home insurance policy carefully to see what the limits are and what losses are covered. For example, jewelry and valuables may only have a small amount of insurance – an amount that won’t fully cover them. You might have to add coverage for jewelry, valuables, or collections.
  • Home insurance will replace my belongings like new.
    • If your belongings are insured for their Actual Cash Value or ACV, your insurance company will reimburse you for the value of your belongings at the time of the loss. That means you’ll get the depreciated value of your belongings (which might not be enough to replace them at today’s prices.)
  • Flooding is covered.
    • Unfortunately, many homeowners find out that this myth is just a fable. Flooding is not covered by home insurance. So, if it rains really hard or if a river bursts its banks, you would not be covered. In order for your home to be covered for flooding, you have to go through an agent and get flood insurance from the National Flood Insurance Program.


We Are One of the Best Insurance Companies Near Me

Caliber 360 mission is to protect our clients regardless of how unique their insurance needs are.  We offer only quality service and take great pride in it!


When our clients need help with a claim or just understanding their home and business coverage, we’ll always be there ready to help.


As an independent insurance agency, you have choices. Independent agents are not tied to any one insurance company. “Independent” means we’re not tied to any one insurance carrier. In other words, we can research rates and coverage options from several top insurance companies to find the best policies for you.


Call Us For Home Insurance Miami

It is essential to understand what tax myths are common. These are myths that every homeowner should be aware of. Also, to take advantage of tax preparation services. That is where the professionals at Caliber 360, Inc. come in. We offer the best insurance in Miami. Call one of the best insurance companies near me today for more information on how we can help you. Be one of the many who are taking advantage of the best home insurance Miami has to offer.