Never Miss a Freedom Insurance Financial Post

Subscribe to our newsletter to get the latest in insurance & financial news

As homeowners insurance in Hunters Creek, FL experts, we know that a home is one of the most significant assets a person will buy or invest in their lives. Often time’s people pay up to a decade or two’s worth of savings and empties their bank to own a house in their name. An asset of such significance and monetary effort should always be protected.

Please call us at 407-344-1228 or email us at [email protected] for any insurance needs you may have.

Homeowner’s insurance in Hunter’s Creek, FL or anywhere you may live is a necessity for any responsible homeowner, particularly in Florida and its areas like Orlando or Hunter’s creek since these areas are no stranger to freak weather conditions and frequent storms.

What is Homeowner’s Insurance?

Homeowner’s insurance in Hunter’s Creek, FL is the best option available to homeowners to protect their properties in case of emergencies, calamities or any kind of damage. Homeowner’s insurance in Hunter’s Creek, FL basically works by letting you select a coverage package which insures you up to a certain point or fully if you so choose. You pay a premium or fees to the insurance company and in case any incident or damage to your house occurs, then you can file a claim. You then become eligible for compensation by the company if the nature of your claim lives up to the agreement you signed.

Common Mistakes of Insurance Applications

Firms for homeowner’s insurance in Hunter’s Creek, FL do not operate as charities. They are a business like any other and while they will live up to and fulfill an agreement, they may also utilize a variety of schemes and loopholes to avoid paying claims.

Therefore, you need to be vigilant during all of your initial paperwork and negotiations as well as after you have made the claim. Here are the most common mistakes that people commit with insurance applications and claims which can come back to bite them in the future. Take heed and pay attention to make sure you never commit any of these mistakes.

  1. Insuring on Retail Value

Any sensible person and who has a good head on their shoulders will not spring for homeowner’s insurance in Hunter’s Creek, FL based on retail value of the house alone. This is usually done so that people can get away with the lowest amount of premium paid and think they have hit a bargain and outsmarted the insurance company.

What they fail to realize is that in case of a calamity which destroys your whole house down, your insurance coverage will not be enough to rebuild and furnish it due to numerous costs like those of the furnishings, fittings, and possessions inside as well as the ever-increasing inflation.

Therefore, it is always better to go for homeowner’s insurance in Hunter’s Creek, FL which, at the very least, is based on the value of the house in 4 to 5 year’s time as well covers the cost of the furnishings and possessions inside it. The premium you will have to pay will be higher but as they say, prevention is better than cure and in the case of a destroyed house, you will be glad that you chose to pay extra money for securing your home.

2. Over/Underestimating Your Coverage

One of the major mistakes that most people make while applying for insurance is that they rush the process, overlook reading the fine print, and fail to ask about and understand the details of their coverage plans. Remember, applying for homeowner’s insurance in Hunter’s Creek, FL or anywhere else is not a simple task and should be done thoroughly and carefully.

If you have any questions about the extent of the coverage, for instance, you may be concerned about which items and belongings are covered and under what circumstances. If that’s the case or you have any other queries, then every single one of them should be asked from your agent. It is your right and you should not feel shy, lazy or reluctant about it.

This will save you later on when disaster strikes and you get to know your coverage is not enough to cover the claim.  Conversely, something happens and you thought it wouldn’t be covered but you later find out it could have but the time duration to file a claim has expired.

The lesson learned is that it is important to have your policy for homeowner’s insurance in Hunter’s Creek, FL on your fingertips or at least at the back of your mind.

3. Basic Policies

This is related to the previous point about not taking your proper time to go through a policy, its particulars, and whether it will cover all of your needs or not. Most people are content to pick the basic simplest policy suggested to them for homeowner’s insurance in Hunter’s Creek, FL but often times it does not prove to be enough. Therefore, you should peruse it carefully.

People might assume and take it for granted that the policy covers and insures them for every case of natural disaster but that might not be the case. Or you may discover upon detailed inspection that the coverage is not amounting enough to adequately cover for your property. In this case, you should ask for a revised policy which covers your needs more comprehensively. This can only be done, of course, if you had taken your time to study and understand the policy.

Most policies will cover you from fire, lightning, and tornadoes but not floods, hurricanes or storms. Now, if you reside in Florida that should already raise several warning alarms in your head since Florida bears the brunt of many storm systems in the USA. A policy which does not protect you from these weather conditions is pretty much useless for you.

4. Mold and Sewage Issues

This is yet another symptom of the wider misinformation about homeowner’s insurance in Hunter’s Creek, FL and other places. You would think that homeowner’s insurance in Hunter’s Creek, FL is supposed to cover you for growths and house infections like fungus, mold, and particularly damaging and troublesome sewage issues but that is not the case.

They are slightly costly problems to fix than your usual run of the mill house problems so many policies shy away from covering them and fail to inform the policy owners about that fact. Living in Hunter’s Creek, Florida, you can obviously see why this would be a big issue for your home. Florida is a wetland state with the Everglades, swamps, and multiple bodies of water thus humidity is high and so are the chances of mold growth. If your homeowner’s insurance in Hunter’s Creek, FL does not cover mold growth treatment and cleaning then it is of no use to you.

Same is the case for sewage backing up, which is an increasingly common problem nowadays and becomes all the more prevalent during storms and floods. Most policies do not cover this issue as well. So make sure to specifically ask for these issues if you live in Florida and are planning to apply for homeowner’s insurance in Hunter’s Creek, FL.

5. Keeping in The Loop

It is pertinent for your own claims that you inform your provider for homeowner’s insurance in Hunter’s Creek, FL about every major or minor change in your life. We cannot stress this enough. Many people remain under the mistaken impression that some things are too small to matter or that the company won’t try to short change them but to reiterate a point, your company for homeowner’s insurance in Hunter’s Creek, FL is a business foremost. It will try to utilize every legal trick to avoid a claim. Whether it is getting a new pet or getting a part of the house remodeled, take note to promptly inform your insurance representative who deals your case.

6. Possession Inventory

It is necessary to ensure that before applying for a policy for homeowner’s insurance in Hunter’s Creek, FL, you have properly taken inventory and count of your items and belongings. This is important because the final sum will be among other financial costs. In fact, it is one of the bases for the overall insurance policy sum that you will end up with. Therefore, it is wise to make sure it as accurate as possible and every notable asset of value is counted.

This also applies to when you add or subtract assets, items, and belongings from your house. Always keep a record of it because if there is any discrepancy found during the time when a claim is to be made, even one or two missing items may be cause enough to discredit your claim.

Also, in the wake of damage or property destruction, you need to take proper stock of your current belongings to know exactly what was lost or broken. Your service for homeowner’s insurance in Hunter’s Creek, FL will need this accounting to help judge your case for coverage.

7. Laziness

This is one particularly egregious problem in regards to insurance owners. Having homeowner’s insurance in Hunter’s Creek, FL lulls people into a false sense of security and contentment that now they are covered for everything.

Thus, many times people put off work or damage as it occurs for later, thinking the company will cover and fix it. By the time they bother to report it or try to fix it, it’s often too late. This is because most policies include terms about time intervals in which you have to report your claims for coverage. Failing to do so might mean your coverage being rejected.

This is because timely reporting and fixing of the problem will be beneficial for all parties. If you allow something like a cracked wall or mold, then it will escalate into more serious and expensive concerns. The company will absolve itself of liability in this case by claiming the matter has progressed too far and does not come under the terms and conditions of the policy anymore.

Therefore, the maintenance and proper upkeep of your house with its policy for homeowner’s insurance in Hunter’s Creek, FL will require vigilance and diligence. You pay premiums for your policy, it would be a shame and a waste to let your money go down the drain just because you did not respond to a matter in time.

8. Choosing a Provider on Price

This is one of the silliest and most amateur mistakes you can make. Judging a company entirely on its pricing, packages, and offers could be one of the worst mistakes you commit. Homeowner’s insurance in Hunter’s Creek, FL is sort of like entering into a long-term association with the insurance provider thus attractive prices should not be your first deciding factor.

You should do your research on all insurance providers for homeowner’s insurance in Hunter’s Creek, FL and then look for reviews, the satisfaction of their customers, any news about them and other such information. This will allow you to narrow down and shortlist quality providers with history and reputation to their names. Smaller and seedier providers will have you making constant trips to and fro the office while taking your money.

You should also try and pick a provider which can consolidate all your different insurance scheme’s under one roof and, if possible, even provide you one comprehensive all-inclusive package. This will not only save costs but also your time.

Conclusion

This is a comprehensive list of pretty much most of the major problems and mistakes that insurance holders commit, either in the application stages or during the course of holding the policy. As you can guess from looking at them, most of them stem from lackadaisical handling. Therefore, it is wise to research and study thoroughly before coming to a decision when it comes to a homeowner’s insurance in Hunter’s Creek, FL. If it still seems complex, you can always hire the help of insurance attorneys but in general, if you avoid these mistakes, then you will be good to go.

Please call us at 407-344-1228 or email us at [email protected] for any insurance needs you may have.


You may also like

Changes to Obamacare in 2021

Changes to Obamacare in 2021