Insurance Tips For Boca Raton Home Owners

Insurance Tips on Your Most Prized Possession

No matter who you are, buying a new home has all kinds of feelings attached to them. If this is your first time buying a home, you probably have worries you haven't even felt yet. You love the idea of being able to design your home the way you want it done, but on the other hand, you're not sure you've thought of all the things your going to need once the house is finished. We know you're going to love your new home here in Boca Raton, and your real estate agent wants to help you any way they can. This article is to help you understand what your homeowners insurance and why it's important that you know what's covered automatically and where you may to pay a little extra where it's needed. Your home in Boca Raton may be your largest asset and protecting it properly can get complicated. When the unexpected happens, it can threaten your home, your possessions and compromise you financially, choosing the right homeowners insurance is one of the most important decisions you can make today.

If you're a first-time home buyer, you may not realize that homeowners insurance covers more than just the structure of your home, it also protects the homeowner and anyone named on the policy, including a spouse, resident, household employee, guest or visitor. Most policies also offer three kinds of protection:

1. Structures - A homeowner's policy protects a person's dwelling for damage due to common threats like fire and smoke, lightning, theft and extreme weather. Unless it is listed among a policy's exclusions, anything that causes loss to a homeowner or his property is covered. To cover the exclusions, homeowners can often pay to add endorsements to their policy, although some exclusion such as flood damage may require the purchase of a separate policy.

• Coverage Amounts - When choosing coverage amounts, people should remember they are protecting the entire home, not simply the amount remaining on the mortgage or their equity in the building.

2. Personal Property - Family possessions and personal property also are covered by homeowners insurance. In most cases, a policyholder will be reimbursed for damage or theft of personal property, whether the loss occurs on the protected premises or elsewhere. Recalling each item in every room can be difficult, however, so policyholders are encouraged to make an inventory of their belongings - recording the serial numbers, as well as the dates and costs of purchases for possessions such as jewelry, artwork, furniture and appliances. Personal inventories should always be stored in a fireproof safe or away from the premises, such as on videotape or a computer that is not in the house.

• Coverage Amounts - Typically, the insurer sets the total value of possessions at half of what the home is insured for. But there are limits for certain items and the amount may not be sufficient to cover the replacement of property, so homeowners may want to purchase additional coverage for their possessions. Review of a homeowner's personal inventory is the best way to determine whether his coverage is sufficient.

3. Liability - Homeowners insurance also provides compensation for liability claims and medical expenses, as well as other claims that result from property damage and personal injury suffered by others. This coverage applies whether an accident occurs on the policyholder's property or while away from home.

• Coverage Amounts - The standard amount of liability coverage is $100,000 on a typical homeowner's policy. If a homeowner feels that the standard amount may be insufficient, he should consult an insurance professional about the availability of a higher level of coverage. We are happy that you've chosen Boca Raton to buy your new home and we want you to have all the information you need that will protect you and your families investment. Boca Raton has a lot to offer its residents, that's why this city is always working on improving your surroundings. If you're thinking of buying a new home here in beautiful Boca Raton, Florida, give us a call and let's see what we can do to place you into the home of your dreams.