Your home is probably the most expensive single purchase that you ever will make. It is important to be sure that the insurance you have is enough to cover any loss that you may suffer before you need to make a claim. If you do find yourself in a fight with your insurance company, the Florida homeowner’s insurance lawyers at Greenberg Stone and Urbano in Miami can help you get the results you deserve.
A large number of homeowners in South Florida are underinsured. There are six things that you can do to make sure that you are not one of them:
1. Understand the type of policy that you have and what coverage it provides. There are many different policy types available to homeowners. It is important that the policy you have covers your unique needs. The policy should provide coverage for a large range of threats and incidents. You should analyze different policy types with your insurance agent to compare coverage options and get a description of your coverages in simple English so you understand what is/is not covered.. In addition, the policy should specifically cover unique features, such as painted murals and exotic hardwood floors.
2. Stay informed on home prices and building costs in your neighborhood. In addition to protecting a homeowner from liability claims, the policy also covers repair and replacement of the structure, outbuildings, and personal property. Many policies have annual increases built into the terms in order to account for increases in the value of the home, but these increases may not be sufficient to cover actual appreciation. One way to get an idea to of value is to research the average cost per square foot of new construction and update the amount of your coverage as necessary.
3. Re-evaluate your personal property values. Many insurance policies have limited coverage for personal property. As the value of these items increases as you fill your home with special pieces, the policy may not cover the monetary cost of replacement. This is one of the instances where a homeowner may want to purchase additional coverage (a “Rider’) just in case.
4. Renovation and remodeling projects should be taken into account. As a person does work on the property, he may forget how that changes the value of the home and may not make the necessary insurance coverage adjustments. It is important to keep your insurance agent apprised of any improvements, if possible before they are made. A good agent should be able to advise a homeowner about the increased insurance costs for any anticipated projects.
5. Consider additional coverage. There are many perils that are excluded from a general homeowner’s insurance policy. This is particularly relevant for South Florida, where hurricanes, floods, and sinkholes are dangerous threats. Identifying any gaps in the policy will allow the homeowner to make an educated decision about additional coverage that may be worth the investment.
6. Set up an appointment with your insurance agent. Gather as much information as possible and schedule an appointment to sit down with your agent. By undertaking an independent investigation into the options available, a homeowner will be in a much stronger position to evaluate what will work best for his unique circumstances.
Being proactive about your homeowner’s insurance policy will enable you to deal effectively with any damages to your home that may necessitate a claim.
If you have done everything that you should to be certain that your insurance protects your interests yet still find yourself in a fight over coverage with your insurance company, then the skilled Florida homeowner’s insurance attorneys at Greenberg Stone and Urbano will help you get the money that you deserve. You faithfully paid your premiums and submitted your paperwork and it is inexcusable that the insurance provider has now denied your claim. Our knowledgeable attorneys understand the strategies of the insurance companies and can force them to fulfill their obligations.
For decades, our Florida homeowner’s insurance attorneys have successfully battled insurance companies and gotten results for our clients. Please call us at (888) 499-9700 or (305) 595-2400 or contact us through our website to schedule a free consultation where we can discuss your case and present your legal options.