Major weather events are sweeping the country, record setting snow pounding the Northwest and huge tornadoes rocking the south. The frequent storms and subsequent ones are brining scads of sad stories of homeowners noting that their home insurance policies didn’t cover such disaster for as much as they had expected. Without the right homeowners insurance Florida this means a huge un-expected expenses.
High cost of fine print
So, before the next tornado rock, homeowners must be proactive. We all know it hard to escape Mother Nature, but be prepared by reviewing homeowner’s policy to ascertain you are adequately protected.
Check your homeowner’s insurance Florida now what’s covered and what’s not, don’t wait when filing a claim to find out insurer won’t pay.
The 4 mistakes you will want to avoid.
Read through your homeowners policy see if you are making any of the following mistakes and take action now if you are:
Mistake 1: Underinsured your house
Failing to have enough insurance cover the cost of rebuilding the house after catastrophic is bigger and the homeowner will have to dig deep in the pocket for more money. Most homeowners buy just enough insurance cover for their mortgage. In most cases the mortgage is 80% or 90% the value of the property, and this depend on the regional down payment where the house has appreciated in value.
For others, the homeowners insure an amount juts equal to the current value of the house. This figure may be far less the actual cost of the house during destruction and rebuild the house considering labor and cost of supplies.
What to do? First, calculate the cost of rebuilding your house. Use professional home-replacement cost estimator for an accurate number that need to be confirmed by your homeowner insurance Florida agent.
Mistake 2: Assuming you have a flood insurance cover
A standard homeowner’s insurance Florida cover doesn’t cover flood calamities. The insurance cover can be considered if your property is near a lake, river, flood plain or ocean.
Flood insurance install hard to get, the federal program will accept anyone who wants such coverage.
What to do? Determine if you need the extra coverage with the help of National Flood Insurance program website.
Mistake 3: Thinking you have a policy, flat deductible
You may think the maximum cost to incur would be $500, $1000 or even the amount our said you would bought your policy. That wrong.
In case of a storm, such as hurricanes or a windstorm and earthquake, then deduct is the percentage of your coverage. It would be 1 to 5 percent of insurance value for flood or much of 10 to 15 percent for earthquake coverage.
Your house is insured for $300,000 and it sustains damage in a windstorm then you could be socked with $15,000 deductible in case of a claim.
What to do? Ask you homeowner’s insurance Florida agent if your policy has different deductibles, depending on the roaming calamity.
Mistake 4: thinking you are covered for mold or sewage backup
Most homeowner’s polices lack protection or claim limits. What you need t is inquire with your homeowners insurance Florida about additional coverage for mold and sewage backup.
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