In our previous blog, we shared some tips on home insurance. To give you that extra support in your insurance research journey, we compiled another short list of homeowner insurance tips that you may or may not be aware of depending on your experience and exposure with home insurance. Finding the best homeowners insurance Florida company can be challenging due to the variety of insurances out there, but hopefully with our list of tips, you’ll be able to make strides in finding and fine tuning your homeowners insurance policy.
Comprehend Your Home Insurance Deductibles
If you haven’t fully grasped your homeowners insurance policy in detail, then this is a great time to understand your deductibles. Deductibles are the amount of money abstracted from an insurance claim check. For example, if you have $12,000 in damage and a $2,000 deductible, you will receive an insurance check for $10,000. There may also be some special deductibles hidden in your home insurance policy. For example, if you have hurricane insurance, the deductibles for it can run between 1% to 5% of your home insured value. To explain this further, if $100,000 is insured for your home and you have a 5% deductible, then $5,000 will be subtracted from your insurance check.
Be Aware of Sub-Limits
Sub-Limits, or Special Limits, apply to highly-valued items like jewelry and whatnot. To help you visualize this, imagine if you owned a $3,500 diamond necklace and it gets stolen. Your policy only covers $2,000 for any stolen jewelry, so in the end, your policy will only cover $1,500. The more expensive jewelry that you own, the more that you would have to insure to their full value (if you want to).
Consider Other Water Damage Coverages
Although homeowners insurance policies cover some water damage and leaks, they do not provide coverage for all other types of water damage. Other types of water damage include: earthquakes, failure from sump pump, floods, hurricanes, swimming pool leaks, tsunamis, etc. To give you protection for these situations, reach out to your insurance agent to help you navigate other insurance coverage possibilities.
Include Home Insurance to Your Renovation Plans
If you have some exciting renovation plans in store for your home, it is highly suggested that you review your homeowners insurance beforehand. Sometimes you might need to purchase more insurance depending on your renovation projects.
With these additional homeowners insurance tips, we hope that you are well on your way to find the best homeowners insurance Florida company. If you are still struggling to find the best insurance policy for you, then contact a Get-a-Quote professional today. Get-a-Quote is a great insurance shopping tool that will help you during your insurance research journey.
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