In a Trusted Choice survey, 86% of insured consumers said they had a good understanding of what their policies cover.
However, when tested on the specifics, many were wrong or unsure. This gap between what people think they know and what they actually know is where the expensive surprises live.
Car, home and renters insurance can protect you against the losses you could never cover on your own.
Home insurance
More than half of respondents (56%) do not know that a standard homeowners policy excludes flood damage. You buy flood insurance separately.
Renovations trip up even more people. Seventy percent do not realize that materials bought for a…
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