During the past year we have had many unusual events in our area that have brought up homeowner insurance coverages. We have experienced an earthquake, a hurricane and a tornado in our geographic area. Here are a few items that you should look at on your homeowner policy to make sure you are adequately covered.
· Earthquake coverage must be added as an endorsement. The coverage can only be added at renewal and generally runs between $50 to $80 per year.
· Water Backup is an option on the policy. If you have a sump pump or basement we recommend you have this endorsement
· Other Structures coverage – Your policy automatically gives you 10% of your dwelling for other structures. During the hurricane we had detached garages, fences, gazebos and swimming pools that suffered damage. If you have one or more of these items your policy should be reviewed to make sure your coverage is adequate.
· Jewelry - Most policies have a $1500 theft limit on jewelry. If you have more than the $1500 you are automatically given consider scheduling the additional items.
· Discounts - now include home/car, home/life, security systems, new roofs, new HVAC and new electrical systems. If you have recently made changes to any of these please check with us to make sure you have the maximum discount offered.
Your home is usually your most valuable asset. Please take a few minutes to give our office a call to review your policy and make sure you have sufficient coverage. We can be reached at 804-559-1200.