What Does Home Insurance Cover?

Home insurance is necessary, but understanding your coverage can be confusing. Coverage varies from policy to policy, but the basics remain the same. All Counties Insurance Agency & Traffic School offers home insurance for Palm Coast, FL residents. 

Property Coverage

The most obvious coverage provided by home insurance is the home itself. Home insurance covers the interior and exterior of your home. Most policies also provide coverage for freestanding structures on your property, like a shed or workshop. The structure of your home is covered for damage from fire, theft, storms, and more. Floods, earthquakes, and damage due to negligence or poor maintenance are usually not covered under a basic homeowner’s policy. 

Personal Belongings Coverage

Your homeowner’s policy also covers your belongings. The coverage limit for belongings is typically 50-70% of the coverage limit for the home itself, but you’ll need to check your policy for specific coverage limits. If your valuables exceed the coverage limit, you can purchase a rider or separate policy for adequate coverage. 

Liability Coverage

Your homeowner’s policy also covers liability. If someone is injured on your property, your homeowner’s policy will cover the expenses. Intentional damage or injury is not covered. For example, if a neighbor is visiting and accidentally falls down the stairs, your policy would cover the claim. If they were pushed down the stairs, this would not be covered. Most policies also cover damage to other’s property. 

Additional Living Expenses Coverage

Many policies also provide additional living expenses coverage. If you have to move out of your home while it’s being repaired, your policy will pay your living expenses. This includes rent or hotel and food expenses. 

Homeowner’s Insurance at All Counties Insurance Agency & Traffic School

Your home is likely the biggest investment you’ll ever make, so it’s important to know it’s properly protected. If you need homeowner’s insurance in Palm Coast, FL, contact us at All Counties Insurance Agency & Traffic School.

Do You Need Home Insurance?

Getting a new home in Palm Coast, FL, is the dream of very many people. You will be living in the Sun Belt, which is one of the coveted geographic regions in the country due to the warm weather throughout the year. However, your new property needs to have home insurance coverage from All Counties Insurance Agency & Traffic School for the following reasons. 

Dwelling Coverage Benefits

If you have home insurance, you will accrue financial benefits that will help you to cover structural repair expenses when there is a need. Floods might damage your deck or garage during the rainy season, and you will not incur any financial liabilities in rebuilding your property after the storm.

Personal Property Coverage

If you have home insurance coverage, you don’t have to fear the possibility of losing the valuable items inside your dwellings. The home insurance cover is structured to pay for such expenses and replacement costs. Some of the items that can be covered by personal property coverage include electronics, clothing, furniture, and foodstuffs. 

Guest Medication Expenses

If a guest is accidentally injured on your property through negligent acts, your home insurance coverage will come in handy when paying for medication expenses. In such scenarios, your insurance company will be directly responsible for paying medical expenses, punitive damages, mental torture expenses, and income replacement if such guests have been incapacitated to continue with their income-generating activities. 

Therefore, when you are looking for a home insurance policy, it is necessary that you ascertain all the benefits you will be getting from the coverage. In some instances, some insurance companies may fail to disclose whether they will cover a specific incidence. That is why you should work with All Counties Insurance Agency & Traffic School in Palm Coast, FL because it is an agency that is willing to disclose the necessary coverage details.

Importance of Having a Home Inventory

If you own a home, it’s to your advantage to create a home inventory of your belongings. A home inventory is a list of all the items you own along with a brief description of each, photos of high-end goods, and receipts verifying their value. In the event of theft or loss, you’ll have an accurate record of your goods to make it easier to file a claim. At All Counties Insurance Agency & Traffic School, we recommend that all our Palm Coast, FL customers have an up-to-date home inventory. Here’s what a home inventory can do for you:

Helps You Purchase Accurate Insurance Coverage

Having an updated list of all your possessions will enable you to purchase accurate property insurance to protect your valuables. It also ensures you don’t forget important items that may be stored out of sight. The right insurance coverage will make it easier for you to recuperate your losses in the event of a disaster. 

Facilitates Claims Process

A home inventory can facilitate the claims process. In the event of a disaster, you can refer to your inventory for an accurate account of what was lost. This can be extremely difficult, if not impossible, to do by memory alone. A home inventory can act as proof of ownership to your insurance agent to ensure you’re fully compensated for your loss. It also helps speed up the claims process.

Substantiates Financial Losses

A well-documented home inventory can be used to help substantiate your loss after a major disaster. It can be extremely useful if you need to apply for financial assistance after a catastrophe or if you want to get a break on your taxes.

To learn more about home inventories or to purchase quality home insurance for your Palm Coast, FL home, contact All Counties Insurance Agency & Traffic School.   

4 Tips to Use When Getting Home Insurance

When you are about to purchase a house, one of the things you need to think about is homeowner’s insurance. There are some considerations to keep in mind. A company such as All Counties Insurance Agency & Traffic School can help with this if you’re in the Palm Coast, FL area.

How Much Coverage?

Talk to your agent about how much coverage is best for your interest. Your lender may want you to get a policy that is at least the amount of your mortgage on your home. This does affect how much you pay.

Replacement or Actual Cash Value

You can decide if you want to insure your house and belongings for replacement cost or the actual cash value. With replacement cost, it’s the amount that you would need to pay in order to rebuild or replace your house. It also covers damage repair with materials that are of a similar type and quality.  Actual cash value is the amount that you’d need for replacement and repairs after depreciation is factored in.

Know What an Agent Does

An independent agent assists you with getting insurance coverage from one of the companies it works with. You don’t have to go with the insurance company that your lender suggests so you can "shop around" for the best policies to meet your needs by talking to your agent.

Read Everything Carefully

All home insurance policies are legal contracts. It describes your rights and responsibilities in detail as well as those of the insurance company. As soon as you buy your insurance and get your policy document, read it completely, and have a solid understanding of the language of it. Ask questions if you’re not sure about any terms or if something doesn’t reflect what you thought you were getting.

When you visit All Counties Insurance Agency & Traffic School of Palm Beach, FL, and beyond, you can be confident that the agents are knowledgeable and do their work well. Reach out with your questions today.

Do I need home insurance in Palm Coast?

As you are looking for a new place to live, the Palm Coast, FL area can be a great option. If you move here, you can enjoy the great weather and local amenities. For those that are going to purchase a home here, getting the right home insurance is vital as it could be a necessity for many buyers. 

Required by Association

One reason that you may need to have home insurance in the Palm Coast area is that a home association could require it. If you live in a home association, the other members will want to ensure you are able to repair your home or pay for any damages that you or your property create. One of the best ways to do this is by making sure that all owners in the community carry a full home insurance policy.

Required by Lender

You are also likely going to need to get a home insurance policy if your mortgage lender requires it. Most of the time, a mortgage lender will require that you have one year of insurance paid upfront when you close on a home. Going forward, they will require that you escrow for future payments monthly. Doing this helps to ensure you do not have a lapse in insurance, which protects their collateral.

Anyone that is looking for home insurance in the Palm Coast, FL area should contact All Counties Insurance Agency & Traffic School to discuss their insurance needs. The team at All Counties Insurance Agency & Traffic School can help you better understand all of your options when it comes to protecting your home. We can then help you find a policy that ensures you are fully protected. 

What happens if your home insurance policy lapses?

Your home insurance plan is essential when you want to protect your personal finances in Palm Coast, FL. Such is the reason why you should make sure that your premiums are paid on time to ensure that there are no lapses in coverage. You should call the agents at All Counties Insurance Agency & Traffic School immediately if your home insurance plan has been canceled or is at risk of lapsing. 

What does a lapse in insurance mean?

Lapses in home insurance are instances where there is no coverage. The most common reason for gaps in indemnity protection is because of missed payments. 

Many insurance providers offer grace periods that homeowners can lean on if they happen to run late on making monthly premium payments. Those who go beyond the grace period generally forfeit their policy’s coverage and are fully responsible for any losses during the time that they are uninsured. 

What happens when a home insurance policy lapses?

You are at risk of paying higher rates when you let your home insurance plan lapse. Data shows that those who maintain their indemnity policies are less likely to file claims for losses. Meanwhile, those who have several gaps in insurance are generally regarded as high-risk customers. 

Those with lenders are also at risk of having the mortgage company purchase coverage on their behalf. This type of insurance is not meant to protect your assets but rather to guard the lender from significant financial loss in the instance of your home being damaged beyond repair. You will pay the highest premiums for home insurance chosen by the lender. 

Do not let your home insurance fall behind!

The financial responsibility of incidents that occur while you are uninsured completely rests on your shoulders. Do not let your home indemnity plan in Palm Coast, FL lapse! Instead, call the agents at All Counties Insurance Agency & Traffic School to learn about your available options. 

Do You Really Need a Home Inventory?

Whether you’re a homeowner or renter, you probably have valuable goods that need insurance protection. A home inventory will provide you with an accurate account of all your assets and their value to help you select the home insurance coverage you need. At All Counties Insurance Agency & Traffic School in Palm Coast, FL, we recommend that all Flagler County homeowners and renters create a home inventory of their possessions for insurance purposes. Here’s how a home inventory can benefit you. 

Proof of Ownership & Property Value

A home inventory that lists all the items you own and documents their value can be used as proof of ownership when making a claim. If you were to lose all your possessions in a major disaster, your home inventory would make it easier to recuperate your losses per your insurance coverage.

Accuracy in Insurance Protection

A home inventory will help you obtain proper insurance protection for your goods. Standard home insurance offers protection for personal property along with dwelling and liability coverage. The amount of property coverage you choose depends on the value of your goods. Having a complete list of your goods enables you to choose accurate coverage to meet your needs.

Facilitate Claims Process

Documenting your personal goods will make it much easier to make a claim when you need it. Your home inventory should include a description, photos, or videos of your goods, particularly high-end items. If these items are stolen, damaged, or lost in a covered peril, you’ll have the information you need on hand to expedite your claim. By maintaining an up-to-date home inventory, you can be prepared for any eventuality.

For help in making a home inventory or to learn more about home insurance coverage and costs, call or visit All Counties Insurance Agency & Traffic School in Palm Coast, FL.

First Time Homeowners: Planning Your New Home Purchase

Homeownership is one of the most celebrated of real estate achievements, and first-time homebuyers have good reasons to be pleased with their planning. Getting through the process can be simplified with a few planning steps including insurance. Paperwork for the real estate part of the process often includes a purchase contract along with the start of paperwork being processed at a title company. This also may be an excellent time to get additional information for home insurance. All Counties Insurance Agency & Traffic School is available to answer questions about home insurance and any other types of coverage options. Serving the Palm Coast, FL area, the trained staff from this agency is experienced working with homeowners and first-time buyers.

In addition to the paperwork that is needed for the real estate purchase, many first-time homebuyers understand that they can begin planning and coordinating for the moving process. This includes moving furniture, household items, and anything else that will be transported to the new property. Other planning steps can be more manageable with an estimated date for closing on the home and the best estimates for moving into the house. Having good contacts throughout this process is helpful.

All Counties Insurance Agency & Traffic School has a friendly staff waiting to help you with the planning for your new home purchase and the insurance part of the process. The opportunities for homeowners throughout Palm Coast, FL, and Flagler County are essential for many people, and experience is helpful in the process of acquiring your new home. You can visit our office or contact us with any questions you may have about the planning. Call our agency today for more information, and congratulations on planning your new home purchase.

 

Does your home insurance cover tornadoes and hurricanes?

You live in beautiful Palm Coast, FL and, as such, must prepare for the possibility of tornadoes and hurricanes. You can and should have a family plan in place to ensure that everyone is safe and ready to move forward together after a tornado or hurricane. What happens, though, when your home is destroyed by the natural disaster? Does your insurance plan cover tornadoes and hurricanes?

It certainly is bad timing to inquire about your assurance plan’s coverages when tragedy strikes. The agents at All Counties Insurance Agency & Traffic School can help you understand the basics of home insurance today so that you know for sure that you have the right protection when the unthinkable becomes your reality. Read on to learn about tornado and hurricane coverage for homeowners in Palm Coast, FL.

Does home insurance cover hurricanes and tornadoes?

Not all home insurance policies cover hurricanes and tornadoes. In fact, most standard policies leave out natural disasters because of the magnitude of the cost associated with such events. Some policies may compensate you for damages that a tornado causes to your home because of a stipulation in standard home insurance plans that make allowances for "wind damage" and "flood damage." It is important to note, though, that some assurance providers place limits on wind and flood damage, which means that you may not be able to claim significant damages on your policy under these terms. 

Additional Coverage

It is always a good idea to purchase additional coverage for hurricanes and tornadoes under the National Flood Insurance Program (NFIP). This program, which is supported by the federal government, ensures that those living in high-risk areas such as Florida receive compensation if their homes are destroyed by a hurricane or tornado. 

An agent at All Counties Insurance Agency & Traffic School can help you find the home insurance plan that best suits your situation. Call them today to get started with a quote!

Why you need flood insurance, even if your home is not in a flood zone

If you live or do business in a flood zone, carrying flood insurance is a necessity. Some mortgage companies will require you to carry insurance against the horrific damage that a flood can cause.

However, All Counties Insurance Agency & Traffic School, serving Palm Coast, FL would like to suggest that even if you do not live or have a business in a flood zone, you might well want to consider carrying flood insurance anyway.

Leaving aside that our community faces the Atlantic and is thus a prime target for hurricanes, recent weather events have shown that, given the right conditions, a lot of places that were never considered to be in a flood zone can and do flood. The recent storms that have caused torrential flooding down the Missouri and Mississippi Rivers are a case in point. Given sufficient rainfall over a sufficient period of time, any community that is near a major river or close to the ocean can find its streets turned into rivers and its front yards turned into lakes.

Nothing can be compared to what Tropical Storm Harvey did to the city of Houston and surrounding areas in August 2017. The storm parked itself over southeast Texas and rained for days. As a result, a great American city became a lake, with impassable roads and homes and businesses that have never flooded in living memory suddenly inundated. The cost of damage and lives disrupted was beyond calculation.

If you have any questions concerning flood insurance, contact All Counties Insurance Agency & Traffic School, serving Palm Coast, FL