Homeowners Insurance - Not all created equal
Has your home insurance policy had a check-up recently?
Did you know that not all home and property insurance policies are created equal? That’s right the first thing to consider is finding the best insurance agency in Naples or Ft. Myers area. Working with an agent who is knowledgeable and will help you consider your options and not just sell you the most expensive policy so they make the most. There are several other elements to consider when purchasing the best homeowners insurance policy to protect you:
1) Your deductible – do you truly know your deductible? Is it a dollar amount or a percentage? You don’t want to have sticker shock if after storm damage you realize that your deductible is not a dollar amount but rather a percentage of the limit of your policy.
2) Loss of use coverage – this is coverage if your home is a total loss and uninhabitable. The coverage would pay for hotel stays or an apartment rental while your home is being repaired or rebuilt.
3) Do you have enough liability coverage? Liability coverage protects your assets in the event somebody gets hurt on your property and sues you. There are additional coverage opportunities for liability coverage such as personal catastrophe liability. This would give you an extra one to five million dollars in coverage added on to your homeowners and auto insurance.
4) Can you customize your policy? Do you need Inland Marine coverage or flood coverage? Depending on your needs you may have one or both types of coverage.
5) Is the insurance company you have your policy with and are they financially sound? Will there be money available to you in the event of damage that is covered? Gulf Coast Educators Insurance is a Horace Mann Agency. We are a financially sound insurance agency. You can check the ranking of any insurance company by checking the ranking from Ward and A.M. Best. They release the ranking on an annual basis.
6) Guaranteed Replacement Cost – with this type of coverage you can rebuild your home without worrying about depreciation, policy limits, or insurance construction costs. If you have a cash value plan then depreciation is taken into account when calculating your reimbursement amount.
7) Protect your home improvement investment – any time you complete a home improvement project be sure to let your insurance agent know so they can adjust your limit if needed.
What this boils down to is selecting the best insurance agency in Naples, and Ft. Myers. Which agency is going to work with you, be thorough and offer the best insurance rates for what you need. Buying too much insurance is excessive while being underinsured is a risky business.
For more information about the home and property insurance please call us at any of our two locations, Naples, and Ft. Myers. We service Southwest Florida.