Don’t get caught out with the wrong insurance because you believed the misconceptions.

If you rely on the Internet or what you hear from others to understand what business insurance can and can’t do, chances are you’ve heard (and perhaps believed) a few myths along the way. For clarity and your sanity, check out a few of the common insurance misconceptions and the facts to go along with it.

My homeowners insurance covers my property against all types of losses.

Your homeowners insurance is designed to protect your home from all sorts of damages and losses. However, a standard homeowners insurance may not cover everything, and all policies have their limits. Generally, homeowners insurance covers perils such as fire, theft, vandalism, and certain weather events. Flood and earthquake coverage are commonly excluded from policies. For such coverage, you’ll need to obtain separate policies.

I don’t need life insurance.

While life insurance isn’t for everyone, it is for most people. If you have friends and loved ones that rely on you for income, life insurance is there to protect them from financial strain. When you pass with no remaining debt and enough finances for your family to cover funeral expenses and more, you may not need life insurance. To determine your need, call your insurance agent.

Personal insurance covers me while I’m operating my own vehicle for business purposes.

Believe it or not, but your personal insurance won’t cover accidents that are from business-related ventures. If you drive your personal vehicle to haul supplies or to meet your clients, a personal auto insurance policy may not cover you for accidents that happen on those trips.

If you’re confused on what insurance you need, go straight to the source – your insurance professionals. Contact Martplan Insurance today, serving La Habra and neighboring cities in California!