Do I always need to get home insurance?

The Oviedo, FL area is a great place for people to move to. This area of Florida has a growing economy and population as well as great weather and local amenities. As you are looking to buy a home here, you should also spend time thinking about your insurance needs. There are a few different reasons why you will need to get home insurance when you are going to purchase a home in this area of Florida.

Insurance Will Ensure Compliance

An important reason that you should get home insurance when you are in this area of Florida is that it will ensure you are in compliance with various agreements. The typical property owner in this area of Florida is going to have to meet insurance standards that are set by mortgage lenders, home associations, and other interested parties. When you get full coverage, you can remain in compliance with these obligations.

Insurance Protects Assets

A quality insurance policy is also going to provide you with coverage for your assets. Your home insurance policy will offer protection to repair your home if it is damaged or even to replace your personal belongings that are stored under your roof. This can help you do not lose your assets due to an unforeseen situation. 

There are a lot of reasons why someone in the Oviedo, FL area will need to get home insurance. If you are going to purchase a property here and need a new insurance policy, it would be a good idea for you to call Karla Salmon Insurance. The team with Karla Salmon Insurance understands the need for someone to get protection for their home. They can help you by assessing your situation and giving the proper guidance that you need to choose a new policy. 

3 Tips for Buying Homeowner’s Insurance in Oviedo FL

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. 

Customizing Your Homeowners Insurance Policy

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.

How To Determine The Amount Of Home Insurance You Need

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. 

Do All Oviedo Homeowners Need Home Insurance?

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.  

Protect Your Home From Burglary

Homeowners in the Oviedo, FL area are smart to protect their homes from burglary. Follow these helpful tips from the team at Karla Salmon Insurance and keep your family home safe! We are here to address any questions or concerns that you may have about home insurance and protecting your family! The right insurance policy is another way to protect your home and family. Contact us today to learn more about the available options.

Helpful Tips for Keeping Your Home Safe from Burglars

  • Install motion detection lights — light is an effective tool for deterring unwanted visitors to your house.
  • Trim all branches away from your windows — don’t give burglars a way inside!
  • Keep all shrubbery neat and trimmed — thick shrubs can provide cover for a would-be burglar, make sure to keep your landscaping tidy and well-lit.
  • Install a burglar alarm — when you have an alarm system that’s connected to your area’s first responders, you give your family another level of protection.
  • Use light timers when you will be away from home for an extended period of time — a dark house is often an attractive target. By keeping your house lit when you aren’t home you can help to repel robbers.
  • Review your homeowner’s policy — make sure that you have the protection you need before you need it! The right policy provides the peace of mind and protection that your family needs to stay safe. 

If you are in the greater Oviedo, FL area and have questions about your home insurance, contact the team at Karla Salmon Insurance today! We are here to help you protect your home, and will be at your side should your home fall victim to burglary. Let us help you ensure that you have the protection you need.

Home insurance endorsements that you may need

Before you can consider what home insurance endorsements that you need, you have to understand precisely what an endorsement is and which ones are offered. An insurance endorsement is an amendment that is added to a policy that changes specific coverage on the policy. They are sometimes called riders. In order to have a specific endorsement, you may need to change companies, which is why if you live in or near Oviedo, FL, talking to Karla Salmon Insurance is a good idea.  

Some common endorsements include 

  • Animal liability
  • Mold 
  • Flood
  • Hurricane
  • Jewelry 
  • Sinkholes

Some of these endorsements are for things that are very common in Florida. Some home policies cover hurricane damage. Others require an endorsement. It is up to you to read your policy carefully and to discuss specific coverage with your agent. Mold, flood, and sinkholes are all too common and need to be covered in order to have peace of mind. 

If you have more than a piece or two of jewelry, the jewelry endorsement is a must. Typically if you have an engagement ring, that is about the extent of the coverage your policy has. Be sure to get an appraisal for your jewelry and submit it with the endorsement. 

Pets are a significant liability, and some animals are not covered and can’t be covered by an endorsement. If you are a pet owner, you need to check with your insurance company to determine if your breed is among those that can be covered. 

You can only decide the endorsements you need for your Florida home, but if you live in or near Oviedo, FL, Karla Salmon Insurance can help you to make this critical decision. Give us a call or stop by our office and let us make sure that you have all the coverage you need.

Three Things to Remember When Changing Home Insurance Policies

It’s great that you own a home in Oviedo, FL. Having a place to call your own is a special part of life, but it comes with a few extra responsibilities. One of those is home insurance. Some people find the perfect policy and never have to switch, but for many others, adjusting policies is an inevitable part of life. If you’re in that second group, keep in mind these tips from Karla Salmon Insurance.

Notify Your Mortgage Lender

If your home is still under mortgage, it’s vital to notify your lender that you’re changing insurance policies. There are several reasons for this. The collateral on home loans is the home itself. Every lender is going to want to vet your new insurance policy. Unexpected changes to your insurance policies could look like a lapse in coverage. If they aren’t adequately informed of a switch before it happens, it could end up costing you a lot of extra money you weren’t planning to spend.

Avoid Coverage Gaps

While some switches appear as coverage gaps, other switches can include them. It’s vital to make sure that you will have nonstop coverage. Even a single day between policies is enough to incur hefty fees for any house still under a mortgage. Lenders have special insurance policies that cover gaps like this. Those policies aren’t cheap, and there’s a good chance your mortgage contract makes you responsible for covering that cost.

Understand the Payments

The last thing to remember is that homeowner’s policies are significant. There are plenty of reasons to make a switch, but it’s not like going to a new shop for an oil change. These policies scale to the value of your home, and new policies will often want upfront payment. Altogether, the switch can leave you with a single month where your out of pocket costs are a little higher than normal. It helps to budget accordingly.

If you want to be sure you’re getting a great deal for your home, a conversation with your agent can go a long way. Karla Salmon Insurance in Oviedo, FL has the resources you need to make informed decisions and find the right policy.

5 Things You Didn’t Know Your Home Insurance Could Do

The insurance on your Oviedo, FL home protects you from a number of likely threats. The payouts from these policies ensure you can always rebuild or relocate after a major disaster. However, there are other things your policy from Karla Salmon Insurance can do that protect your personal wealth and make life a little easier.

  • When your home needs big repairs, living through the inconvenience of construction can make your life miserable. Some home policies include payment for temporary lodgings due to covered events. Instead of suffering through a mess or paying out of pocket for temporary accommodations, you can enjoy comfortable surroundings at no additional costs.
  • Long power outages can ruin your family’s food supply. When a fluctuation leaves you without refrigeration, your homeowner’s policy could help you restock. Some contracts include coverage for power events that leave your kitchen full of rotten food.
  • Even in the afterlife, your homeowner’s insurance could still be working hard for you. Some policies cover gravestones as well. If the site falls victim to vandals or covered environmental events, the policy helps pay for replacements and repairs.
  • Did your home entertainment plans get derailed by a natural disaster? Your homeowner’s policy might contain a clause that allows you to claim damages for big events on your property that are spoiled by certain circumstances.
  • Your homeowner’s liability insurance has a further reach than your physical property. Any legal actions brought against you that relate to your property can qualify for an insurance payout. These funds help you afford lawyers, court fees, and legal judgments.

Every homeowner’s insurance policy is unique. Talk to the experts at Karla Salmon Insurance for advice on customizing your Oviedo, FL policies to fit your preferences, resources, and circumstances.

Home Insurance Myths

Home insurance in Oviedo, FL can seem complicated and there are a lot of misconceptions surrounding policies.

Home Insurance Is a Waste of Money

Your home is a huge investment and home insurance helps give you a safety net to protect that investment. While it may seem like a lot of money, having the right home insurance can be a huge saver if there is a loss, such as from burglary, fire, or a hailstorm.

All Belongings Are Covered

Home insurance does protect your personal belongings, but it is important to know there are limits. You have to read your insurance policy with Karla Salmon Insurance carefully to see what is covered. You may need additional coverage for certain valuables, such as jewelry.

Home Insurance Will Replace Property Like New

It will depend on your coverage. The actual cash value will mean that you will get reimbursed for the value of your belongings at the time they are lost. This means depreciation will be taken into account and you may not get enough to replace your belongings at today’s prices.

Flooding Will Be Covered

Many homeowners don’t realize until it’s too late that flooding isn’t covered by home insurance. You will need a separate flood insurance policy in order to have coverage for flooding.

Termites Are Covered

Termites can be very destructive and can cause a lot of damage, but they aren’t covered by home insurance. You will have to pay for extermination and any repairs from the damage. It’s important to have regular inspections so you can fix the issue before you have a full-blown infestation.

A Home-Based Business Is Covered

It’s likely that business equipment won’t be protected and you will need business insurance so that liability and equipment are covered. Depending on the equipment you need covered, you may be able to add an endorsement to your policy, but check with an agent.

Contact Karla Salmon Insurance, serving Oviedo, FL, to get a quote on home insurance.