Buying a home can be one of the biggest investments you make in your life. As such, you definitely want to protect this investment with adequate insurance. If something should happen, like a burglary or fire, you will have peace of mind knowing that you are protected.

Here are some common myths you should not believe about homeowners insurance.

Home Insurance Covers Flood Damage 

This is one of the biggest misconceptions people have about home insurance. Unfortunately, a traditional home insurance policy will not cover flood damage. You typically have to pay extra for flood insurance. If you live in an area that has frequent flooding, it may be worth investing in flood insurance. 

Your Home Insurance Company Does Not Care What Breed of Dog You Have

False. Your home insurance company will absolutely care about the type of dog you have. Some insurance companies may refuse to cover you if you have a certain dog breed, such as a pit bull or Rottweiler. These dog breeds have a history of being aggressive, so insurance companies want to protect themselves.

If Your Neighbor's Tree Falls on Your Property, They Must Pay For It

Believe it or not, this is not true. If your neighbor's tree falls in your yard and causes damage, your insurance company will have to pay for it. 

You Are Legally Required to Have Home Insurance

Many people assume that the law requires you to have home insurance. This is not actually true. It is not against the law to not have home insurance. However, if you take out a loan for your home, your mortgage company will likely require for you to carry adequate insurance.

It Is Not Possible to Save Money on Home Insurance

Luckily, this is not true. There are actually plenty of ways you can reduce your home insurance costs. For example, if you are a senior citizen, you may be able to get a discount on your home insurance. You may also qualify for a discount if you have a green home, don't smoke, or have a home security system. Do not hesitate to ask your insurance agents about discounts you may qualify for.

As you can see, there are a lot of myths about home insurance. If you have additional questions about your homeowners insurance policy, do not hesitate to reach out to your home insurance agent as soon as possible.