When bad weather strikes, many of us are reminded about how important our Homeowners Insurance is. Now is a good time to re-evaluate your Homeowners Policy and make sure you have the right coverage in place.
Most important is making sure that you have enough insurance to completely rebuild your home in the event of a calamity. If you haven’t had a recent evaluation, we can help by providing a home replacement cost estimation. For a more extensive assessment, you should hire a professional appraiser.
Home insurance policies cover damage to your home and other structures, such as tool sheds, garages, barns, and in-ground swimming pools. If you have these on your property or have done extensive home renovations, you may wish to confirm that your policy adequately covers these items and includes your updates.
You should also review the current liability coverage on your policy, which pays for the costs of lawsuits in the event someone is hurt on your property or as a result of your personal and recreational pursuits. In today’s litigious society, this can be very important in protecting your assets.
For coastal properties, flood and windstorm coverage is critically important to protecting your investment.
We have relationships with several providers that offer an alternative to the FAIR Plan (Fair Access to Insurance Requirements). This is a consideration particularly as it relates to receiving timely, responsive service from the insurer in the event of a storm with significant regional impact.
It’s also a good idea to check the deductible on your policy. A higher deductible can lower your premium, keeping in mind that home insurance is really for major problems and damage such as fires, falling trees, theft, vandalism, frozen pipes, and the like, rather than small items such as a broken window.
At the same time, make sure that valuables such as expensive jewelry, art, and antiques, are covered on the policy, as well.
Our team can review your current policy with you, and ask the right questions to ensure any additions or alterations to your home or changes in your family’s circumstances are properly accounted for in the coverage.
File: Home Insurance New Bedford, Home Insurance Southcoast