Protecting Your Home Against Natural Disasters
The recent hurricanes this season served as a stark reminder that as a Florida homeowner, you want to make sure that your property is fully protected in the event that any accidents or natural disasters occur. A homeowners insurance policy can help to protect against financial losses in most cases if any home damages are caused by strong winds, storms, fire, etc. If you are located in the areas of West Palm Beach, St. Pierce, or Tampa Bay, Florida, and have questions about what types of insurance coverage you will need to adequately protect your home, CTC Mortgage is here to help. Continue reading to learn more about protecting your home against national disasters.
Homeowners Insurance: Basic Information – What Does It Cover?
A majority of common homeowners insurance policies will pay for the replacement of rebuilding of a home and your personal belongings in the event of damage caused by smoke, fire, theft, vandalism, or severe weather like hail, wind, lightning, falling objects, etc. It will also cover living expenses if you are required to temporarily relocate while your home is being repaired. Additionally, most homeowners insurance policies will help to cover liability costs associated with medical or legal expenses if a person is injured on your property. It is important to note that you should contact your insurance agent so that you can fully understand everything that is covered by your homeowners insurance policy and what is not covered so that you can ensure you are fully covered and to avoid expensive out-of-pocket costs if certain damages occur.
What Is Not Typically Covered By Homeowners Insurance?
Although most homeowners insurance policies cover specific damages, it is important to note that most policies do not cover everything, so supplemental coverage may be appropriate in some instances to be fully protected. Generally, a homeowners insurance policy does not cover damages caused by earthquakes or flooding, and since damages that are directly caused by mudslides or flooding are excluded from most policies, it is advisable to purchase a supplemental policy if you live in an area susceptible to these occurrences. Most homeowners insurance policies also do not usually cover damages from sinkholes and/or earthquakes, therefore; if these issues frequently occur in your desired location, your property is likely at risk and you will want to add an extra policy to protect yourself from those damages. Fortunately, in case of a hurricane, most homeowners insurance policies help to cover against the loss from strong wind and heavy rain. For example, if your door or your roof is blown off by strong winds, homeowners insurance will help pay for that, however, if the damages are caused by flooding during a hurricane, the policyholder will not be covered.
If you have questions about homeowners insurance in West Palm Beach, St. Pierce, or Tampa Bay, Florida, contact CTC Mortgage today for a consultation.
