Bogalusa, LA Homeowners Insurance
Many homeowners in Louisiana, Mississippi and Texas didn’t give a whole lot of thought to their homeowners insurance policy until Hurricane Katrina struck. Unfortunately, that was when many individuals and families learned that even though they technically had the requisite homeowners insurance, they didn’t have adequate protection.
They learned their policy didn’t cover their most prized possessions or damage caused by flooding. They may have learned that their minimal coverage didn’t include damage due to “natural disasters” and the out-of-pocket expense to them would be insurmountable.
Does your current policy have any of these gaps, exposing you to risks you haven’t accounted for? If the answer to that question is, “Yes” or “I’m not sure,” contact us today so we can review your current policy and identify gaps in your coverage, as well as provide a comprehensive, cost-effective alternative plan to meet your needs.
Homeowners Insurance Basics – What is Generally Covered
Protection for the Structure and Contents: This includes coverage for your home and additional out-buildings on your property, as well as the contents of your home, with a couple of important caveats:
- The standard homeowners policy does not provide adequate coverage on valuable items, typically around $1,000. Meaning, if you have a nice piece of Great-Grandma Jane’s jewelry collection or a firearm or two and have not purchased additional coverage, you’re probably already going to suffer a loss if those items are stolen.
- Standard policies calculate your property replacement cost factoring in depreciation. It’s considered “fair market value” but may not truly represent what it will cost you to replace the items , unless you’ll be shopping garage sales and thrift stores to replace your belongings. Expect to be paying the difference out of pocket unless you’ve added coverage.
Personal Injury: This is basic coverage for someone being injured on your property, like tripping on the sidewalk and falling. It’s important to know how much coverage you have and if that will be adequate in the event of a claim, as the cost of medical care continues to skyrocket.
Loss of Use: The reasonable cost of alternative housing while your home is repaired or you’re permanently relocated. You will want to know how much coverage you have to make sure it’s adequate in the event you need it.
Independent Homeowners Insurance Agent – Finding all the Coverages you Didn’t Know You Needed
“Don’t open the refrigerator! You’ll let the cold air out!” Ever heard that warning in the middle of a power outage? The blackout usually occurs the day after you have visited the supermarket and stocked up on perishable food for your family for the week. Wouldn’t it be nice to not have to cover the cost of that spoiled food out-of-pocket?
Damage including spoiled food due to a power outage is not covered under your standard homeowner’s policy, but with a simple and inexpensive rider, we can get you compensated for the hundreds of dollars worth of food in your refrigerator and freezer.
What else can we cover? Did you know identity theft protection can actually be added to your homeowner’s policy? Give us a call and we can review all the potential “little things” that will all add up to help keep you and your family safe and comfortable.
Flooding & Natural Disasters
Water damage, including floods, and some natural disasters like tornadoes and earthquakes are not automatically covered under a standard homeowners policy. This is an extremely important consideration as each year we seem to face increasingly severe weather conditions and storms. It’s imperative to know what coverage you can expect in the event your home is in the path of one of these “super” storms.
Talk to one of our experienced agents today to help assess your flood risk and the level of coverage you will need to be protected. For a wealth of information on flood risk and protection, you can visit Floodsmart.gov.
Renters Insurance is a Smart Investment
Renter’s insurance might be the smartest protection a person can invest in. Typically costing a few hundred dollars a year (less than a dollar a day), your renter’s insurance policy will allow you to replace your belongings in the event they are damaged or destroyed in your apartment or home. Of all the insurance options out there, renter’s insurance truly is a great value and a “no brainer” for anyone that rents.