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The recent challenges for Floridians dealing with severe weather are likely to continue to increase due to the impact of climate change. Homes in Ft. Lauderdale are at risk of damage caused by extreme heat, freezing, hail storms, hurricanes, storm surge, and a myriad of new challenges caused by inclement weather.
If you have not spoken with your agent at Coastal Wealth Insurance LLC, serving the Fort Lauderdale, FL area, to make sure your home insurance is adequate, now is a good time to do this.
Your agent will look for insurance gaps, check the valuations used to calculate policy limits, and make suggestions about things to consider, to improve insurance protection.
Insurance Gaps
Gaps in insurance are things that it would be a good idea to have protection for that may not be adequately covered by existing home insurance. Flooding is a common problem and not usually found in the typical home insurance policy. It has its own separately policy. Hail damage is another thing to check. Damage from high winds is different from damage from a storm surge caused by high winds. Your agent will help you understand the details.
Be sure to discuss with your agent the insurance protection for the personal property that you have as well. If you own many valuable things, you may want to itemize them for special protection.
Replacement Cost
It is important to evaluate the home insurance policy limit. An adjustment may be needed. Usually, the limit is based on either the market value of the home and/or the replacement cost of rebuilding the home if it is damaged by a covered peril.
Home values may change over time if the market goes up or down. Construction costs also change. To make a recommendation, your agent will make a calculation based on the current home value and local construction costs to see if the insurance protection is adequate.
Get an insurance review and a home insurance quote by calling 954-331-5046 to speak with your agent at Coastal Wealth Insurance LLC in Fort Lauderdale, FL or use the convenient online form.
