Everyone hates insurance…until we need it. When it comes to your biggest investment—your home— you can’t afford to go without insurance. Losing your home in a catastrophic event like a fire or tornado would be a nightmare. The last thing you want is to realize you don’t have the money to repair or rebuild your home.
Homeowner’s insurance can be confusing, especially in Florida. Between hurricanes, fires and sinkholes, you want to make sure you have your bases covered. However, when you know that you have the right insurance in place, it can be a sigh of relief.
What Should Basic Homeowner's Insurance in The DeLand Area Cover?
Below are some things to keep in mind when evaluating your existing policy or getting a new policy.
Most policies cover the basic cost of rebuilding due to damage caused by events like fire, windstorms, hail, lightning, theft, or vandalism. They also protect your possessions inside the home like clothes, furniture, and electronics.
Most Florida policies will not cover flooding. If you live in a low flood plane, you should strongly consider flood insurance. As many nearby DeLand residents have seen after the recent hurricanes, flood insurance is a must in low-lying areas.
Most policies cover the basic cost of rebuilding due to damage caused by events like fire, windstorms, hail, lightning, theft, or vandalism. They also protect your possessions inside the home like clothes, furniture, and electronics.
Most Florida policies will not cover flooding. If you live in a low flood plane, you should strongly consider flood insurance. As many nearby DeLand residents have seen after the recent hurricanes, flood insurance is a must in low-lying areas.
Liability Coverage
This is one of the best buys in the business. Make sure that your policy includes a $500,000 minimum as a safe rule of thumb. This part of your policy is very affordable and cover you against any lawsuits for bodily injury or property damage in your home. This coverage will pay for legal representation if you are sued and could also pay for damages if you are found responsible.
Guaranteed Replacement Cost
Try to get a policy with guaranteed replacement cost. A while back, many major carriers stopped issuing guaranteed replacement coverage that replaces your home no matter the current cost of construction. Now, many policies will cover a fixed dollar amount plus a percentage. Depending upon the existing real estate market, this may not cover your home entirely, leaving you to pay the balance out of pocket, adding up to thousands of dollars. Remember, the idea is to cover your home completely and transfer the risk.
Look For An Independent Insurance Agent In DeLand
For further information about homeowner’s insurance, we suggest you speak with a qualified insurance agent. Independent agents are best because they can shop several different companies in the state of Florida, giving you the best rate. They can also work with you to file a claim if something happens. A few reputable local companies include Page Insurance Agency and V.W. Gould Agency.
Sometimes dealing with insurance can be a hassle, but it is a necessary evil to make sure you are have the proper protection in case you need to make a claim.
Sometimes dealing with insurance can be a hassle, but it is a necessary evil to make sure you are have the proper protection in case you need to make a claim.