We believe most people would agree that Florida is characterized by unique weather patterns throughout the year. Sometimes what you think may be a covered event really is not, or you may have damages that exceed your policy limits. These situations can be difficult for policyholders to accept.
Our team at Brockman Insurance Group highly recommends you schedule an annual policy review so you understand your coverage and where you may have gaps.
What if your auto insurance claim extends beyond the limits of your policy? What if you have a water incident and you have mold, do you have mold coverage? If you don’t live in a flood zone, but nearby new construction has shifted the water run-off pattern, you may now have waterfront property. Should you consider getting flood insurance now? You hire a contractor to do work on your property. They cause thousands of dollars in damages, will you exceed your policy’s limits in trying to get your house back together?
These are all thoughts to consider when purchasing insurance. We are prone to severe lightning and wind storms and hurricanes. What does your policy cover when it comes to wind damage? Will your policy cover a water claim from a known storm? Hail damage is also a result of some of our severe weather, does your policy pay for hail damage?
In addition to meeting with us to review your policy, we also encourage clients to consider an umbrella insurance policy to help bridge the gap. An umbrella policy can offer coverage beyond what your current policy provides.
For example, if you have a new driver on your policy and they cause a car accident, an umbrella insurance policy offers you additional protection. In the event the damages are extensive and exceed your current auto policy limits, an umbrella insurance policy may pay the additional expenses. This protects you from cashing in on your other assets to pay for the damages.
If you consider yourself to have a high net worth, you entertain regularly in your home or you have kids, we recommend purchasing an umbrella insurance policy. This type of policy will greatly reduce your risk of a financial disaster. Click here to read more on this type of policy.
There are some misconceptions when consumers purchase homeowners insurance. Some think their purchase automatically includes flood and sinkhole insurance. Carefully reviewing your policy is key. Typically, a homeowners policy covers your dwelling and other structures, your personal property, personal liability, and medical payments to others. If you have to live elsewhere because your home is uninhabitable due to a covered loss, your homeowners insurance can pay for this expense too. This is sometimes called “loss of use” coverage.
In the example of water run-off patterns being shifted due to nearby construction, you may want to talk with us about purchasing a flood insurance policy. Not all homeowners policies automatically have flood insurance included.
Sinkhole insurance is also a type of coverage that is not included in a standard homeowners insurance policy. This is coverage we are happy to discuss with you and how it works.
When it comes to auto insurance it’s a good idea to make sure your policy includes uninsured/underinsured motorist coverage. This will help you pay for medical expenses and sometimes property damage in the event you are involved in an accident with a driver who has no insurance or insufficient coverage. Typically, an auto policy includes bodily injury liability, property damage liability, collision coverage, comprehensive coverage, person injury protection (PIP) and uninsured motorist coverage. It’s a good idea to confirm your policy has all of these coverages.
The next important task is to understand your coverage limits and what you realistically need. When you talk with us we will thoroughly explain how the limits work, and we can make some recommendations based on your driving frequency. We will also share with you additional add-ons you can purchase with your policy, such as rental reimbursement in the event you need a rental car.
Insurance is a serious decision, especially if you are a homeowner and you own 1 or more vehicles. We invite you to call our office in Altamonte Springs and schedule a free consultation. We would be happy to compare rates for home and auto insurance. We are available Monday through Friday between 9am and 5pm when you call 407-644-9991. We look forward to talking about insurance with you.
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