It can be difficult to determine exactly how much insurance you need to adequately protect your home or business. That’s when the assistance of a real estate agent can be invaluable. They can tell you if you’re purchasing property in a high-risk flood zone or if you’re buying into an area prone to forest fires.
There’s actually an underinsured crisis taking place. Insurers in Florida are limiting coverage or no longer offering some types of policies. It’s a problem that can be mitigated by checking your coverage each year. You may have installed cutting-edge heating or cooling solutions, renovated, or added a room or pool not included in your current policy.
Insurance costs have skyrocketed in Florida. You may be tempted to purchase the minimum amount of insurance necessary, only to discover your home or business is underinsured. Make it clear to your insurance agent that you want to insure for full replacement value should a disaster occur.
Be truthful when speaking with the insurance agent to get the best coverage for your needs. The agent will be able to recommend the optimal level of coverage you need based on your home, contents, and known perils for your location. Purchase the highest level of protection you can comfortably afford, combined with the highest replacement value.
If you have collections or high-value items such as jewelry or artwork, let your insurance agent know. It might be covered under a standard homeowner’s policy, but you may need to contact a specialty insurance agency. Your insurance agent will be able to direct you to an appraiser and insurer specializing in such items.
Repairs, restorations or rebuilding can be a lengthy process. It’s a good idea to purchase coverage that includes living expenses and the cost of alternate living arrangements for at least 2 years. Working with your insurance agent is an excellent way to avoid being underinsured should a disaster occur.
For more information about how The Sena Group can help you with any
of your insurance needs, please contact us at 561-391-4661.
We can be found on Social Media at the following links.
The Sena Group
6501 Congress Ave., Ste. 100
Boca Raton, FL 33487