Hurricane Insurance Coverage for Florida – When Is It Too Late to Purchase

Hurricane Season is here and its time to get a list of supplies together just in case. As important as preparing for a storm is, you also need to make sure you have homeowners Insurance up to date with Hurricane Coverage. Once there is a watch issued, binding restrictions can take place within the carriers and aren’t lifted until the storm passes.

Things to consider for your homeowners policy.

Flooding in Florida

Flood Insurance is not included in your homeowners policy. Flood insurance is separate. Any damage from water that does not include wind and rain from the Hurricane would be covered under Flood insurance.

Check with an insurance agent and be advised that there is a 30 day waiting period before your flood policy can go into effect. You can get a flood policy even if you are not in a flood zone.

Coverage Inside and Out of your Home

Make sure you have a current policy that matches the value of your home and valuables. Now would be a good time to take inventory and re-check everything you want covered.

Don’t Be Surprised

Check into your policy to see how you benefit if there is loss due to a Tropical Storm or Hurricane. Do you have replacement of goods or will you get a cash value.

Windstorm Deductibles

What is your deductible? Don’t wait until a storm had caused damage to find out what you deductible is. Windstorm Insurance usually carries a much higher deductible. Talk to an insurance agent about what are the best possibilities for you.

Take it With You

In the event you need to evacuate your home, take your insurance policy with you. As a back up, make copies and mail to a friend or email to yourself. You can also make copies and keep in a safety deposit box at your local bank.

Have a Pool?

Many pool owners have a screened in pool or a pool cage. Make sure this is also covered on your policy.

Storm Shutters

Having storm shutters may not only be a bonus for your home, but also on your homeowners policy. Ask an insurance agent about a bonus for having the shutters.

After The Storm

Assess your property damage, make notes and take pictures inside and out to present to your insurance agent. Keep receipts of everything your spent in repairs, and what you needed to get your through the storm. Not all may be covered but better to have them then not. If you had to evacuate or leave your property after the storm because of damage, keep receipts of hotel bills, food, rental car, etc.

Call us today to get your questions answered. 863-453-3903 or visit our website budgetbirite.com fill out the form and we will have an agent contact you within 24 hours

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How To Cut Cost on Home Insurance

Increased Home Security

Most homes are fitted with some sort of security device. To make the most of your home security discount, make sure your home is fitted with dead bolt locks, smoke detectors, fire extinguishers and a burglar and fire alarm that are monitored. You do not have to have all of these to receive a discount on your home insurance so even if you only have one or two, make sure that you ask for the savings.

Keep your credit score as high as possible.

Home Insurance companies are using your credit score as an indicator of responsibility. The theory is the more responsible the individual the less claims they will have. So, insurance companies are giving lower rates to those individuals with a better credit score.

Consolidate your policies.

Most, if not all companies that sell home insurance, offer discounts for insuring your autos with them. These discounts can sometimes save you up to 30% off of your total insurance bill. Plus, you get the added convenience of having one agent for both your home and auto insurances.

Protect your home with updates.

Discuss with your agent about the possibilities of receiving home insurance discounts for keeping your home in good repair. Some home insurance companies will offer savings for a anew roof, electrical, HVAC, plumbing updates.

Make sure you are not over insured.

Your home insurance coverage should not necessarily be what you paid for the home. Land values are calculated into the final sales price and should be considered when insuring the structure. In others words you cannot hurt the dirt. A good idea is to call local builders and ask them what new home construction cost per square foot is going for. Take that number, multiply those times your square footage and that is the amount that your home should be insured for. Companies will not pay more than what it is going to cost to rebuild the home anyway, so make sure you are insured correctly.

Stay away from low deductibles.

The deductible is your portion of the claim that must be paid before the insurance company pays for the claim. The lower your deductible, the higher your premium will be. Deductibles can range anywhere from $100-$5000 or more. The majority of homeowners will carry a $500 deductible, but the savings one can receive by raising your deductible to $1000 can be significant, up to 20%.

Ask Budget Bi Rite. Contact an agent today to make sure that you are receiving 100% of the home insurance discounts that you qualify for.

 

 

 

 

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