Annual Coverage Review and Home Inventory

-

homeowner insurance elementary


Whether you’ve moved into a new home or you’ve been rooted for many years taking the time to review your policy is a simple way to ensure you're properly covered. As your life changes your insurance coverage should change with it. From renovations and new purchases to updated appliances, make sure there are no gaps in your coverage. Here are some ideas you can consider when renewing your insurance policies:



home family elementary


Inventory your Home

Creating and updating your home inventory is a great way for you to make the most of your policy. A detailed list of personal possessions will help you choose the right amount of coverage and assist with filing a claim, should the need arise. Now that you know the benefits of managing a home inventory, here is how you can get started:


  • Choose if you prefer a written, digital or visual record of your possessions

  • Note possessions as you pack to move somewhere new

  • Note one room at a time

  • Note items when you redecorate

  • Note items in storage also

  • Count clothes by category


Include as many of the following items as possible in your home inventory. Discuss which items of yours are covered with your local insurance agent.


  • Item description

  • Make, model, serial number

  • Appraisals, cost at time of purchase and estimated replacement cost today

  • Where and when it was purchased

  • Receipts




insurance agent elementary



Talk with your Agent

Your agent is a great outlet to answer all your questions when it comes to your current or potential coverage. 

  • Ask about discounts

  • Ask about bundling

  • Mention renovations or landscaping

  • Manage your deductibles

  • Review replacement cost or actual cash value coverage


Elementary Insurance Agency makes insurance simple for you. Call Elementary today at 813-212-8505 to talk about products, coverages or quotes.


Comments

Post a Comment

Popular posts from this blog

Why Should You Call Your Insurance Agent Before Filing a Claim?

-
Image
If there has been damage done to your property or your possessions that you think could possibly be claimable, be sure to call our agent first. There are many reasons why we at Elementary need to be your first phone call. Some of the reasons are due to specific policy information, communication, and contacts that are available.  Policy Information  We as your agents at Elementary know everything about your policy. Specific coverages and the deductible information as well. How much you pay annually for insurance How much your deductible is - the amount you pay out of pocket before an insurance company will pay a homeowners claim Whether you’ll be covered for the costs of temporary living expenses, if your home is uninhabitable and for how much Amount of time you have to file a homeowners claim after an incident occurs  Communication Needs The Elementary Insurance agency wants to always have open lines of communication with our clients. We can also help you decide whether to file a claim
Read more

Changing your Insurance from a Mortgage? It’s Simple!

-
Image
It is important to state that it is the insured’s right to change their insurance carrier at any time for any reason. For example, changing could save money and reduce mortgage payments.  What is an escrow account? An escrow account is an account where the mortgage lender will keep a small portion of each mortgage payment and use it towards the insured’s homeowners insurance and any property taxes. Mortgage companies require an escrow account to verify there are adequate funds for the payments.  The decision to get an escrow account is up to the mortgage lender and the insured, it will determine if the payments are automatic or if the insured wants to make payments themselves.  If the insured decides to switch insurance carriers, ensure the mortgage company has adequate notice of the insurance change in order to redirect any funds. If the insured switches during a policy term, the prior insurance company will owe for the unused premium, which is sent directly to the insured.  The proc
Read more

South Florida Carriers

-
Image
  Why Are There Limited Insurance Carriers in South Florida? It has been a lingering thought in many people's minds why South Florida has such trouble insuring homes. South Florida includes Broward, Miami- Dade and Palm Beach counties and those counties are known as the TRI- county area.  When seven different carriers reduced their policies in Broward and Miami- Dade throughout the 2017 year, c arriers such as Universal and Citizens had to insure the excess homeowners. In 2018, Universal ended up with over 24,000 additional policies and Citizens accrued more than 5,000 policies. Universal again faced the obstacle of rising reinsurance costs and insurance fraud, when having to cancel or non renew a significant number of policies before the 2021 storm season. Citizens Property Insurance used to be known as a last resort insurance carrier, but now they are the first choice of many homeowners in Miami-Dade and Broward counties.  Other counties that have been denied coverage are Lake, O
Read more