We are starting a new series – this one will be all about Home Insurance Myths. Be sure to follow all the way through!

Home Insurance Myth #1: All of a home’s belongings are covered. “A homeowners insurance policy is not designed to cover everything,” says Jeanne Salvatore, chief communications officer at the Insurance Information Institute. “Each policy clearly sates what’s covered and what’s not.” Personal valuables, for example, aren’t typically covered by a basic policy. “If you have valuable art or fine jewelry inside your house, you might need a scheduled personal property policy to cover these items,” says Laurie Pellouchoud, vice president at Allstate.