(NEW YORK) -- Most people buy homeowner's insurance to give them piece of mind, but as a new report out Monday finds, many Americans are confused by what it actually covers.
"We know that many people simply have no idea what's in their home insurance policies," says Laura Adams of InsuranceQuotes.com.
For instance, she says, there's confusion about mold damage.
"Many people believe that mold would be covered under any circumstances and it's not," Adams explains.
This is especially true if your home wasn't properly maintained. "When a mold claim is made, what happens is they look at how did that mold get there," she says.
Other areas of confusion: flood and earthquake coverage.
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