Understanding the Difference Between Actual Cash and Replacement Cost Values

In the event of a covered loss, the insurance policy for your home will pay you either the replacement cost of the property that was lost or the actual cash value of the lost property. Somewhere in the policy description, usually the declarations page, will specify which method it uses. It is not uncommon for insurance companies to pay the replacement cost of some parts of the house, like the physical structure, and Read More

4 Common Causes of Property Damage

Florida’s proximity to the Atlantic Ocean means that homeowners across the state worry about tropical storms and hurricanes. Because of this, having property insurance that covers damage from natural disasters is practically mandatory for anyone who lives here or owns a vacation home, business, or other structure. The right insurance policy enables you to rebuild and recover from structural damage due to covered Read More

5 Things to Look for When Purchasing Homeowner’s Insurance

Buying a home is one of the biggest financial investments you will ever make. It may also be your largest source of equity, so your homeowner’s insurance needs to protect it from damage and destruction due to fire, vandalism, and other hazards.  Purchasing a policy sounds like a straightforward process, but there is no single solution that meets the needs of all homeowners. Typical policies come with certain types Read More

3 Benefits of Having an Attorney File Your Claim

Property damage can occur anywhere, but in South Florida, our homes are particularly susceptible to damage from hurricanes, windstorms, and floods. And like anywhere else, we have plenty of instances of fires, sinkholes, mold, and vandalism. No matter how your home has been damaged, it can be stressful to get your insurance to pay for the necessary repairs. The internet is full of articles with hints and tips Read More

How to Appeal an Appraisal Award

An appraisal award is the amount of money an insurance company deems sufficient and fair to cover the costs of damage to property following an accident or an act of nature that damages your property. If, for example, a tornado damaged the roof of your home, an appraiser will assess the damage on behalf of your insurance company, determine how much damage the storm did to your roof, and give your insurance company an Read More

10 Tips for Getting the Right Coverage for Your Situation

Homeowner’s insurance provides essential and oftentimes excellent protection in the event of an emergency, and going without it is a risky proposition. Understanding what type of coverage you need will prevent you from overpaying or underpaying for insurance and will ensure that your home and possessions are protected if the worst happens. Here are our tips for finding the right coverage. Consider how much Read More

6 Improvements You Can Make on Your Home to Save Money on Insurance

Home insurance may be a substantial part of your monthly budget, so it’s worth your time to price out common home upgrades and see which ones may lower your insurance rates. There are numerous home upgrades that may reward you with home insurance credits or lowered premiums. 1. Home Security System One of the biggest things you can do for your home is to install a home security system. Home security systems Read More

5 Tips for Dealing with Insurance Adjusters

So the unthinkable has happened: Disaster strikes your Florida home. The bad news? The house has sustained some major loss or damage. The good news? You have a home insurance policy that covers it, and you’ve decided to file a claim. The next thing you should expect is for the insurance company to dispatch their insurance adjuster to inspect your claim. Most homeowners don’t expect disaster to strike until it’s Read More

A Step-by-Step Guide to the Home Insurance Claims Process

Being a homeowner in Florida poses a unique set of challenges, especially around the hurricane season. Flood, rain, hail, wind, mold, debris, and more can significantly damage or destroy your home and cause a whole host of problems. Even so, damage to your home and property can happen in the blink of an eye, at any time of the year. As Murphy’s Law states, “Anything that can go wrong, will.” You know this, and that’s Read More

Your First Call to Your Insurance Claim May Jeopardize Your Claim

If you have a standard HO3 “all risk” policy, believe you have suffered a loss to covered property, and have opted to file a claim on your own (rather than contacting a licensed professional,) below are 4 tips that may prove helpful when contacting the insurer’s representative:    Decide if you wish to file a claim prior to contacting your carrier.  Because once the damage is reported, it will remain on Read More