In this day and age, it’s hard to know what information to trust. Florida Farm Bureau insurance has faithfully served our policyholders for over sixty years, so we’ve heard it all. Below, we examine some popular insurance falsehoods to help inform you and provide some much-needed peace of mind.
Auto Insurance
Myth: Your car insurance policy covers you if you drive the car for delivery business.
FACT: “Personal auto insurance does not protect you if you are self-employed and using your vehicle for business purposes… If you have an accident while making a delivery, you’re on your own.” (Source: NBC)
Myth: If other people drive your car, their auto insurance will cover them in the event of an accident.
FACT: “In Florida, the owner of the vehicle’s insurance company must pay for damages from an auto accident regardless of who is driving. This is because the insurance policy covers that vehicle and is therefore considered the primary insurance.” (Source: ffplaw.com)
Home Insurance
Myth: Homeowners insurance means you’re covered for flooding losses.
FACT: “Flood insurance is not covered as part of standard homeowners and renters insurance policies. If you want to be covered for flood damage, you’ll have to purchase coverage specific to flooding. If you live in a flood zone or if your home could be flooded by an overflowing creek or pond or even water running down a hill, look into buying flood insurance.” (Source: mass.gov)
Myth: All of a home’s belongings are covered.
FACT: “Like car or health insurance, home insurance has limitations. While most standard home insurance policies cover damage caused by a natural disaster such as a fire, hurricane, or snowstorm, some types of personal belongings aren’t covered under basic insurance.” Personal belongings that may not be covered include art, fine jewelry, guns, and other valuables. (Source: realtor.com)
Life Insurance
Myth: I’m single and don’t have dependents, so I don’t need life insurance.
FACT: “Even single people need at least enough life insurance to cover the costs of personal debts and medical and funeral bills. If you are uninsured, you may leave a legacy of unpaid expenses for your family or executor to deal with. Plus, this can be a good way for low-income singles to leave a legacy to a favorite charity or other cause.” (Source: Investopedia)
Myth: You get a better deal purchasing life insurance online.
FACT: “What you don’t get online is the personal service that can help you figure out how much you need, which company is likely to give you the best price based on your health situation, and what the terms on the application mean. A web site may not realize that you need coverage for your whole life due to a child with special needs or that your health won’t qualify you for the rates offered by the lowest price company.” (Source: Forbes)
Contact the Insurance Experts
Now that you’re more informed about the myths and truths of insurance coverage, you may want to make adjustments to your current policy or ask additional questions. We recommend contacting your local Florida Farm Bureau insurance agent to get started.