Congratulations! You’ve just purchased a home and you were smart enough to follow a check list to do it right:
- Hired a professional to inspect the home – CHECK
- Made a bid and negotiated wisely – CHECK
- Obtained a mortgage at a great rate – CHECK
- Installed a security system – CHECK
- Bought homeowners insurance – CHECK
- Put new batteries in the smoke detectors – CHECK
All set, right? Almost.
Did you take the time to look over the specifics of your homeowner’s insurance policy? Most basic insurance coverage includes fire, theft, vandalism, frozen pipes and so on. Unfortunately they usually do not include coverage for natural disasters. A few of these costly disasters excluded from a basic homeowner’s policy are earthquakes, floods and hurricanes, something you’ll want covered when living in a hurricane prone environment like Florida. You might even have to purchase a separate policy altogether for hurricanes.
Read your policy carefully and purchase the additional coverage you need to make sure you’re fully protected!
Hopefully you’ll never need to make a claim, but if the time comes you’ll be in a position to get what you’re entitled to recover from your claim.