Discussion with your Insurance Agent

discussion with your insurance agentIf you are going to own a home then you are going to need home insurance. This is a must for most mortgage companies that you have some type of insurance on your home. Lenders may only require fire insurance but depending on where you live you may want more like hurricane coverage or flood coverage.

But, even getting a comprehensive policy doesn’t mean everything is covered. Filing a claim is not when you want to find out about what is covered and what is not, like sinkholes in Florida.

Discuss these issues with your insurance agent to better understand your current policy and where you may need to make adjustments.

  • Flooding?
  • Rising water?
  • Mold?
  • Earthquakes?
  • Pools?
  • Termites?
  • Certain kinds of pets or breeds of dogs?
  • Limits on jewelry and cash?
  • Deductible amount?
  • Valuation of contents?
  • Available discounts?

The purpose for owning insurance is to pay an annual premium that you can afford instead of a major loss that you cannot afford.

Talk to your agent to see if they provide coverage from many companies so you can compare price and coverage. Make sure you understand what your insurance coverage is and if there are any alternatives available to you.

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