5 things you should know about your Homeowners Insurance

Insurance should top your list when you’re hunting for a new home. Insurance companies are becoming niftier as the days pass. When you select a home, ensure that you prepare beforehand for the insurance payments as they take up a lot of money now. When residing in areas like Tampa Bay, Don’t wait till your home is destroyed by a wildfire or hurricane. Get essential Tampa Homeowners insurance coverage to avoid getting into trouble later on.

Avoid waiting for a disaster to find out how much coverage your Tampa Homeowners Insurance provides. Here are 5 things to ensure you have full protection.

1)    Buy the right insurance

As you reside in areas which can easily be destroyed by natural disasters, its essential you buy insurance which covers the house structure, your personal belongings, and living expenses if forced to evacuate.

2)    Replacement value insurance

In case of losing your valuables you would need cash to replace it with new items. Make sure that the policy you buy says that your home and its contents would be replaced by the policy.

3)    Understand the claims process

The policy you buy should explain how the company will handle your claims. Would you receive all your claims or just a fraction? It is also a good idea to find out how long they would take for replacement of your items and if they would replace everything or just the major damages.

4)    Take Inventory

Keep an inventory of your home, the things you own. A great idea is to record all your possessions on a video and stash it together with your insurance policy in a safe deposit box. Ensuring that you have a complete record of your items will help you get your claim from the insurance company.

5)    Keep up with the Riding Inflation

As inflation rises every year, it is equally important that the policy you have is able to replace a house you once bought for $100,000 today for probably $150,000. Make sure you look for companies that have policies which include an Inflation guard.

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