Flood insurance can be purchased as an endorsement on a homeowners insurance policy as it’s not automatically included. This includes coverage for structural damage and personal property caused by floods. FEMA spearheads the National Flood Insurance Program (NFIP) that provides flood insurance coverage to all homeowners in the United States. This is the largest insurance … Read more
The structural components of your condo and the property within are covered by two types of policies: a master policy purchased by your condo association and the individual condo insurance that you choose to purchase. When you purchase a condo, your mortgage lender will require you to obtain a condo insurance policy that complements the … Read more
Flooding can cause extensive damage to your home, so if you are purchasing a home in an area with a high risk of flood-related damage, your mortgage lender may require you to have a flood insurance policy before you can close on your new house. Why Your Lender May Require Flood Insurance When buying a … Read more
While standard home insurance policies include several different types of coverage to protect your home, they include lists of events that are excluded from coverage as well. If any damage occurs from one of these events, your insurance company will not accept any claims to provide financial protection or recompensation for the needed repairs. These … Read more
Every Florida homeowner knows that the state is no stranger to high winds. Whether it is a hurricane, tropical storm, or weather front, Floridians deal with more than their fair share of wind-related incidents. This is why programs have been put into place to help residents to lower the risk of damage from both wind … Read more
Every family fears the daunting day in which their city or municipality declares a mandatory evacuation due to weather. Sadly, mandatory evacuations happen almost annually in certain regions of the US. In the event of a hurricane or a flood, people who are ordered to evacuate often have no nearby family to stay with, forcing … Read more
If your property is damaged by heavy storms, you may want to know if your policy covers the damage sustained to your land. An extreme downpour can result in extensive erosion and damage to the topsoil on your property and require significant repairs to be undertaken. Unfortunately, many homeowners insurance policies will not cover this … Read more
If you’re considering homeownership or renting in an area where flooding is a common concern, you might have heard a lot about excess flood insurance and want to know if it’s something that you need for your home. There are certain areas of the United States that are particularly susceptible to home damage due to … Read more
Fires can spread quickly and they’re extremely dangerous if you live near an area with flammable vegetation. If you live in a state such as California where wildfires are abounding, there are ways to prepare your home for the event of a wildfire. It’s not possible to make your home 100% fireproof; however, you can … Read more
Wind caused by a storm is one of the perils that a standard homeowners insurance policy will reimburse under your plan. This is considered to be one of the main risks to a home and carriers will, for the most part, cover it but there are limitations in certain situations. It’s important that you go … Read more
