Nearly Three Out Of Four Homeowners Don’t Know Their Policy Coverage

While most homeowners understand that home insurance is critical, but according to the results of a new Forbes Advisor survey of 2,000 policyholders, the vast majority don’t know what their coverage provides.

Homeowners don’t understand their coverage even though they said they’re paying more for it.

According to the survey, homeowners don’t realize that their home insurance policy provides more coverage than just protecting their house and belongings against damage or theft.

It stated that 72 percent of the respondents didn’t know that their policy includes liability coverage. Moreover, they didn’t realize that it is considered to be a critical coverage in case a visitor to the property should suffer an accidental injury or in case the policyholder accidentally damages someone else’s property.