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AAA World Article

Insurance Advisor

Busting insurance myths

AAA World Article

Instead of going by hearsay, it pays to ask your insurance agent questions during your annual insurance checkup. Learning about what’s covered and what’s not can help you avoid costly and emotionally draining consequences later.

Here are some common insurance myths and the facts everyone needs to know.

Myth: I have a home insurance policy, so I have all the coverage I need.
Fact: Many policies don’t have a high enough limit to rebuild the home in the event of complete destruction. Some homeowners will find themselves short by tens or hundreds of thousands of dollars if their home is destroyed by fire, flood or other disaster.

Myth: All my valuables will be covered in the event of a burglary.
Fact: There are limits on the amount of coverage you can receive for valuables such as jewelry, antiques, business property and art, but you can purchase endorsements that will add protection for those items.

Myth: A stay-at-home spouse does not need life insurance.
Fact: A spouse who stays at home may take care of children, the home and transportation. In the tragic event of his or her death, the cost of providing these services could be offset by the proceeds from a life insurance policy.

Myth: I don’t need renter’s insurance because my landlord’s insurance covers me.
Fact: Your landlord’s insurance typically covers the building; it does not cover your personal property. You may also be liable for any structural and/or water damage that you cause. Renter’s insurance also covers your liability in the event that a guest in your home or apartment is injured.

Talk with a AAA insurance agent to ensure that you have the right auto, home and life insurance policies. Visit, or stop by a local AAA Store.


This article originally appeared in the September/October 2019 edition of AAA World.

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