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Insurance for Your Palm Coast Home
By admin | August 4, 2008
Question: What kind of home insurance would you recommend for my Palm Coast home?
Answer Part 1: In this area where there is a possibility of hurricane damage and flooding it is important you have a policy that will cover all the potential damages caused by a hurricance including wind and flooding. Flooding is often not covered in many policies and it is important coverage to have since flooding is one of the major possible impacts of a hurricane.
Answer Part 2: According to the Insurance Information Institute Standard: homeowners policies normally protect against fire, lightning, wind, storms, hail, explosions, riots, aircraft wrecks, vehicle crashes, smoke, vandalism, theft, breaking glass, falling objects, weight of snow or sleet, collapsing buildings, freezing of plumbing fixtures, electrical damage and water damage from plumbing, heating or air conditioning systems.
Such policies are called “all-risk” policies, which cover everything except earthquakes, floods, war and nuclear accidents.
As mentioned above, in the Palm Coast area you also want a policy that covers floods and hurricane damage.
It is currently recommended that you obtain insurance equal to the full replacement value of your home, and many experts recommend an inflation rider, as the home increases in value.
You may also want to get a real replacement value insurance for your personal belongings in order that they are covered beyond the depreciated value.
Topics: Real Estate Questions |
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