If you are like most people then you may think whenever you have a claim that "everything" is covered..... It is horrible to have a loss like theft, or natural disaster. What can make a devastating loss even worse is to find out what you think you had for coverage indeed you did not.

Here are 3 Common Misconceptions with Auto Insurance and Home Insurance

1. Misconception: If my wedding ring is lost or stolen or my grandmothers heirloom is gone my homeowners has me completely covered- THAT IS NOT TRUE- in order to have proper coverage we need to specifically insure your valuble items such as jewelry, watches, art etc. When you schedule an item the policy deductible does not apply and you also have "all risk" policy perils.
2. Misconception: If I am involved in an auto accident - its okay because my carrier will give me a rental car to get my kids to and from school or to and from work- THAT IS NOT TRUE- you only have the benefit if you have rental car reimbursement or loss of use coverage and pay a specific premium for this benefit - it's horrible as an agent when someone calls in for a claim only to find out they never purchased this benefit. My normal business practice is to include rental car unless my client advises me not to.
3. Misconception: If my RangeRover or Jaguar is involved in an accident and damaged my insurance company will repair my vehicle with all factory parts since my car is nice and new and in great condition- THAT IS NOT TRUE, most insurers as a normal business practice can and do use non- factory or non- OEM parts. In some cases they can even use recycled factory parts. Many carriers utilize this business practice. Some insurers offer the benefit to use only Original Manufacturers parts on their auto claims. This is an extra coverage that can be purchased with some carriers. However, not all carriers offer this benefit.