Is Your Homeowners Insurance Policy Up To Date?
Owning a home in Florida can be an extremely rewarding experience, whether you reside in it year round, use it as a vacation home, or bought it as an investment property. Your homeowners insurance policy may be something you renew without thinking about year after year – but do you know what your coverage is and what to do if you have a question or need to file a claim?
What are you covered for?
Over the years, your home’s value and the cost of materials to rebuild can go up or down. You may also make significant improvements to your home, but not have considered their potential impact on your homeowners insurance policy.
It can be a good idea to review your current policy and ask some questions.
- Who is my agent, and how do I reach them? Agencies can grow over the years and the person you worked with originally could have moved on. Knowing your agent’s name and contact information can save time when you have questions or concerns. You should also know what number to call in case of a loss – the claims number should be answered 24/7/365.
- Do I have enough coverage to replace my home and its contents in case of a complete loss? Your home’s actual value might be very different than how much the cost would be to replace it, so make sure you’re covered for full replacement.
- Am I covered in case of flood? Standard homeowners (HO3) policies don’t include flood, so make sure you have supplemental coverage – if you live in the state of Florida, you live in a potential flood zone.
- What kind of discounts do I qualify for? If you’ve added a security system, or replaced your roof recently, you might be able to have credits applied to your annual premium.
- Are all of my structures and home improvements covered? If you have added a new guest house behind your home, or installed an in-ground pool, you’ll want to make sure your improvements are covered.
- What kind of endorsements do you offer? Endorsements increase coverage for specific items, or raise coverage limits across the board. For example, for just a few dollars a month, Olympus Insurance offers policyholders the additional Spartan Enhanced Coverage Package, which can even cover things like food spoiling due to a cut in power, or sewer backup into your home.
What is your insurance company’s claims process?
If you have to file a claim, knowing what to expect can help. Ask your agent what support they offer during the claims process. With Olympus Insurance, policyholders get personalized attention directly from the Olympus Claims team, and have access to a Claims Kit to prepare them in case of a catastrophe or other loss.
Making sure that your policy is up to date, that you know who to contact with a question, concern, or claim, and that you are prepared in case of a loss is all part of protecting your property as a Florida homeowner. To learn more about Olympus Insurance policies, ask an agent for a quote today.
This article is for informational purposes only and does not form a part of, replace, change or amend any terms, conditions, provisions or language within your Olympus Insurance policy. We encourage you to read your entire policy.