Home insurance is an easy and affordable way to protect your property. In fact, this asset is so valuable, it needs to be insured in order for the bank to give you a mortgage. Home insurance comes into play when you need to file a claim, such as a liability claim, or a claim for something like fire or theft. If you want to purchase home insurance for your property, read the following three tips to help you get started. 

1. Work with a Reputable Agent

The first thing you need to do to get on the right track in the home insurance buying process is to contact a reputable insurance agent. This individual will ask you a few questions to determine what you need to be covered and the amount you need to cover it. He or she is available to answer all your questions and concerns while you evaluate quotes. If you want to save time and be successful in the process, reach out to a reputable agent at Karla Salmon Insurance. 

2. Compare Many Quotes

No two insurance policies are exactly the same. For this reason, it’s important to compare more than one homeowner’s insurance policy before making a choice. The recommendation, according to Karla Salmon Insurance, is to compare three or more homeowner’s insurance quotes. 

3. Bundle Your Policies

What other insurance policies do you have? Do you have an auto insurance policy? Life? If so, bundle your new homeowner’s insurance policy with your existing policies to save on your premiums. 

To learn more about buying a home insurance policy in Oviedo, FL, you need to contact a reputable agent. Start by calling our team today. 

Your home may be your castle, but it requires an insurance policy that covers the moat, too. You could purchase a standard HO policy, but you need to customize it to cover the things that make your home a castle. This requires add-ons and riders that your agent at Karla Salmon Insurance of Oviedo, FL can explain further.

The typical HO policy includes property damage coverage from falling objects, fire, hail, lightning, water damage from plumbing, smoke, windstorms, theft, vandalism, HVAC, and damage caused by the weight of snow, sleet, and ice. Personal property also receives protection. Many policies also cover debris removal, plus per diem when you must stay in a hotel or apartment while your home gets repaired. The policy provides liability coverage for lawsuits and financial claims brought by those who were injured accidentally on the property.

You might need to add-on to your policy. One common add-on, sump pump overflow, and water backup coverage that reimburses you for the cleanup and restoration if your sump pump fails and the sewer backs up or overflows into your basement.

You can add to roof coverage including hail and wind damage. Discuss with your agent whether you need it covered for replacement cost or actual cash value. The former pays for a new roof as it costs today, but the latter pays you what the roof on the house was worth when the storm hit. In other words, the depreciated value.

Matching siding coverage covers the cost of replacing all the siding on the house if the siding on the house no longer gets manufactured. The standard HO policy covers only the damaged bits. This add-on lets you put on all-over siding so it continues to match.

You need the National Flood Insurance Program (NFIP) coverage to protect your home from a flood. Even home not in a flood plain remain at risk for flooding. In an area prone to earthquakes, you need separate coverage for it. The add-on applies to the house, garage, personal property, other structures such as a workshop or shed plus driveways, fences, and sidewalks. 

Most standard policies provide about 10 percent of the value of the home as other structures coverage. You can add to this so your swimming pool or detached office building receives the coverage it needs.

Home renovation insurance covers when you remodel your home. It covers the ongoing work as well as the construction materials, damage, and potential for foundation collapse. Those who work from home may need home-based business coverage to insure their business property as well as cover perils causing a business-interruption and liability. One of the new types of coverage is identity theft coverage. You can bundle this into your home policy to protect your identity and the costs involved with reputation rebuilding.

Call or email Karla Salmon Insurance serving the Oviedo, FL area. We can help you obtain the home policy you need, customized to protect your home.

Purchasing home insurance is important for any homeowner, whether they are financing or own the home outright. The best way to protect that investment is to have the right level of home insurance coverage in place. The goal is to avoid gaps in coverage and to have a policy value that will reflect the appropriate replacement cost of the home.

Home Insurance Coverage Calculations

The best way to find the policy value a homeowner needs to be completely protected is to work with an insurance agent with plenty of experience assisting clients. They will need to know the value of the home in questions, including any additional structure on the property. Additionally, they will also need an accurate assessment of all of the contents and may advise the owner to save receipts and any appraisals that may be relevant in case there is a claim at a later date. Having all of the information handy will help expedite the claims process and prevent issues with the provider. Once a number is reached, the insurance agent will suggest a policy amount that will accurately reflect the value of the property as a whole. There are a couple of different types of home insurance to choose from, which they can help you understand more clearly during the shopping process. 

Let An Agent Assist You

One of the best ways to protect yourself when it comes to purchasing insurance is to be educated. An insurance agent can help you learn about the terms and conditions and provide you with relevant information and need to know fine print included in the policy language. Anyone who is living in the Oviedo, FL area can rely on the agents at Karla Salmon Insurance to guide them in the right direction and assist before, during, and after the policy purchase. 

Call or stop by Karla Salmon Insurance, serving the Oviedo, FL area today to schedule an appointment with an agent or to ask questions about policy options. 

Home insurance may sometimes feel like a universal thing. After all, why would someone own something as valuable as property and then choose not to protect it? But the reality may be more complicated than this, and it’s something that you should be aware of if you’re interested in protecting your resale value. If you live in Oviedo, FL, Karla Salmon Insurance is here to give you more information about whether it’s required or not. 

The Standard Laws 

If your home is financed through a lender, then you’re typically required to carry a certain amount of coverage. This is the lender’s why of ensuring that they don’t lose out on their investment. If you live in an HOA, there may also be rules about having coverage that all homeowners are required to follow. This is the development’s way of keeping everyone’s home values protected so the development can remain desirable. It can also help safeguard against community-wide incidents (e.g., a fire that spreads from home to home). 

Understanding Home Insurance 

Unlike a car in most states, there is no requirement for home insurance if the owner owns the property free and clear in Oviedo, FL. And this is something that all homeowners need to take into consideration. Because other people’s homes do affect the overall valuation of your block. And if people aren’t taking care of them, neglect can ultimately impact your home’s value. 

For the most part, you can rest assured that people have home insurance to protect their investment in your neighborhood. However, it helps to know about the potential outliers just in case. If you’re concerned about keeping up your coverage, give Karla Salmon Insurance a call today to learn more about how different kinds of policies work to protect you.