It’s Time For Your Homeowners Insurance Annual Checkup

It’s one of those documents most of us stash in a safe or in an out-of-the-way place, the document that you value and simultaneously avoid, your homeowners or renter’s insurance policy. We were all just reminded by Hurricane Irma that it is important to locate your policy and give it a read. The fact is, it’s time for your homeowner’s insurance policy’s annual checkup!

Why? Here are just a few reasons:

• Type of coverage. Is it ACV or Replacement cost? ACV stands for “actual cash value” which means depreciation is deducted in the event of loss.
• Liability limits.
• Accurate inventory. As your possessions come and go, they need to be reflected in the policy. This is where over-insuring is most commonly spotted.
• Deductible. The amount of deductible in your Miami homeowners or renter’s policy is where you can reap significant savings…if you are willing to absorb more of the expense should a loss occur.
• Discount. If you have more than one type of insurance policy with the same company or are a long-term customer with few claims, you might qualify.

I know this isn’t the fun topic people want to think or read about, but we, in South Florida, know how important it is!

If you are in the market to either buy or sell a home, I would love to help you! Call me at 305.798.8685, or visit my website at: Luxury Miami Real Estate