For most people, your home is the most important asset you will own in your lifetime. Ensuring it’s insured properly, is the most important job I do as your agent.
I personally work on every homeowners insurance quotes that comes to my office and take pride in helping my customers understand the difference in coverage and how they can save money by enhancing their Wind Mitigation and/or 4 Point Inspection Reports. Call today if you are looking for a professional assessment of your homeowners insurance.
Replacement Cost Vs. Actual Cash Value:
90% of customers have no idea how their contents are covered. When I review their policies, most are insured using actual cash value versus replacement cost.
Do you know the difference?
As your agent, it is my responsibility to explain these two coverage options, so you the homeowner, can make the best decision for your family.
Just presenting the least expensive coverage may not be the best option for your home insurance needs.
You may not realize it, but water damage is the most common reason people make claims on their home insurance policy. This is a common loss, especially for older homes at risk for bursting pipes and leaky appliances.
While most carriers provide coverage, some carriers exclude or limit coverage on homes older than 40 years.
Does your current homeowner insurance carrier exclude or limit coverage based on the age of your home?
Wind Mitigation Reports
This report is very important in reducing the premiums on your home insurance policy.
Many homeowners associate impact windows or shutter protection as the only credit available to help reduce their home insurance premiums. This is not true. Your home may qualify for five additional wind credits.
Has your agent explained these credits and how you may reduce your premiums by making minor changes to your home?
“I have many customers who assume they were receiving hurricane protection credits because they installed shutters and impact windows. When reviewing the mitigation report with them, it is discovered that one door or window is not properly labeled or protected resulting in the entire home not receiving the “Opening Protection” credit. In most cases, it is an investment of a few hundred dollars in order to receive thousands of dollars in discounts. Let’s review your mitigation report to see if you qualify for credits.“
4 Point Inspection
Not to be confused with a home inspection report home buyers order when purchasing a home, the 4 Point inspection is required to verify any updates to your roof, electrical, plumbing and air conditioning systems.
The report is generally required by many carriers on homes that are over 30 years old, with each insurance carrier providing their own guidelines as to what they will insure.
I will help guide you to the proper insurance carrier.
Even if you`re the most careful homeowner, you may find yourself facing an unforeseen financial loss as a result of an unexpected accident to a visitor of your home.
If a diner guest slips and falls or a repairmen is injured while working on your home, you may not only be held liable for their bodily injury but also their lost wages if they are unable to return to work.
Paying these monetary settlements are not your only concern. What about the financial expense of hiring an attorney? Even if you are not liable, this can be costly.
For as little as $25 per year, you can increase your liability coverage from $100,000 to $300,000. Many homeowners are surprised it costs so little for this added benefit.
As a homeowner, if costs exceed your liability limits, you`ll be financially responsible for the difference.
I always recommend a minimum $300,000 liability protection for all homeowners.
Ordinance and Law Coverage
This coverage is important, especially if you live in an older home. If you incur a partial loss, you may not be able to repair unless the entire home meets the updated local ordinance building codes.
Your carrier will not pay to repair or demolish the undamaged portion of home in order to meet the updated ordinance codes.
Do you know the difference between insurance company rating agencies?
Most Florida insurance companies carry either a Demotech or AM Best & Co. rating. Do you know your insurance carriers rating? And why is this important?
1550 Madruga Ave #330
Coral Gables, FL 33146