Significant life changes, such as retirement, can mean a change in finances. If you’ve recently retired, you want to make sure that you are getting the most bang for your buck with every dollar you spend. A good place to start is with your homeowners insurance.
Review your policy for missing items
Homeowners insurance is intended to help you replace or repair your home, other buildings on the property, the property itself, and your personal effects with a covered claim. There are two keys to a claim being covered:
- That the reason for the damage is a covered event (such as a hurricane).
- That the item(s) you are claiming are covered by the policy.
Many people assume that everything inside their home, including furniture, valuable musical instruments, furs, electronics and jewelry, are automatically covered. However, this is not always the case. Expensive items, in particular, often need to be added specifically to your policy to be covered.
It’s important to go over your policy and confirm that things such as electronics, jewelry and artwork are covered. If you’re not certain, or you need to add something, please give us a call. We’re happy to help you sort it out.
Confirm you have enough coverage
Home values can increase and decrease over time. If you haven’t made any changes to your policy in a few years, you may not have enough coverage – or you might be paying for more than you truly need.
Take a few minutes to check the most recent appraisal of your home’s value and compare it to your homeowner’s insurance policy coverage. Are they the same? If you need more coverage, let us help you get it. If you’re paying for more than your home is worth, you’re overpaying. At most, the insurance company will pay out the value of the home.
Let us save you money by getting the right amount of coverage.
Make sure you have the right (and required) coverages
Some homeowners insurance policies don’t cover flood damage. If you’re in a flood zone, it’s important to get an additional policy to cover flood damage.
You also need liability coverage. Liability pays out if someone is hurt, or their property is damaged, while on your property. This coverage is critical because without it, you will have to pay out of pocket for medical bills, repairs, and even pain and suffering. This can add up fast. In addition to confirming you have liability, you want to be sure your coverage is enough.
Save money by switching
Finally, while loyalty can sometimes get you a discount, other times it pays to switch your policy. We work with a variety of insurance companies and can help you easily and quickly get quotes to see if you can save money by moving your homeowners insurance to another company.
We can also provide quotes that bundle your auto and homeowners to potentially save you even more.
It only takes a few minutes to look over your policy and make sure that you’re happy with what you have. If you decide to make a change, we can help you do that smoothly and easily.
If you want to discuss your options for homeowners insurance please call us at 561-732-9305 our quoting hours are Monday through Friday from 8:30 AM to 5:30 PM. In addition, you can request a quote online. Please remember, We Handle All the Work, While You Save!
Robert Macoviak is the President of Oyer, Macoviak and Associates. Oyer, Macoviak and Associates is the oldest independent insurance agency in Boynton Beach and has been in business since 1953. Oyer, Macoviak and Associates are vested members of the community who are committed to doing business face-to-face and being your insurance advocate in times of need.