IMPORTANT INSURANCE TIPS
After the damage from the recent major storms, and with winter around the corner, now is a good time to make sure your home is properly covered.
Here are a few tips and things to be aware of:
1. Review the coverage and deductibles on your homeowner policy. Note whether you have a separate hurricane deductible, which may be higher than your deductible for other causes of damage, and be sure to know the trigger for that deductible, such as a Category 1 hurricane.
2. Consider purchasing flood insurance, particularly if you have a finished basement. Even if you’re in a low-risk flood zone, you can still suffer significant damage from heavy rain or a surge in tidal water. FloodFactor.com can provide a good indication of your home’s risk.
3. Protective devices such as low temperature monitor, water leak detector, and an automatic water shut-off valve can avert or reduce the severity of damage to your home, especially when the systems are monitored by a central station.
4. Make sure that your dwelling coverage has kept pace with the recent rise in construction costs and reflects the true cost of replacing your home.
5. Contact your insurance advisor for an in-depth review of coverage and to help you make any needed updates.