According to a number of leading insurance companies, requests for homeowners quotes for flood insurance are up by approximately 30% since last August in comparison to previous years. Even in states without a coastline like Vermont and Pennsylvania, the number of inquiries about adding flood insurance to an existing home insurance policy has risen sharply.
Weather Damages Cause Concerned Consumers to Request Homeowners Quotes
The United States has been hard hit by a variety of weather catastrophes this year, including tornadoes and floods in the Midwest, wildfires in New Mexico and Texas, and most recently, hurricane Irene along the east coast. Damages range from minor water damage to the complete devastation of homes and loss of all belongings. And as the weather patterns are becoming increasingly more severe and random, it’s clear why more consumers are taking a second look at their homeowners insurance policies.
Review Homeowners Quotes Carefully
Consumers should pay close attention to the fine print when reviewing and comparing homeowner quotes. Deductible amounts can vary from state to state, and the amount of coverage provided for each weather catastrophe can differ between states and companies. In addition, there may be conditions that don’t seem important but are when it comes to filing a claim. For example, hurricane coverage only kicks in when a tropical storm is officially classified as a hurricane. Otherwise, homeowners have to file their claims under their wind damage coverage, which may have lower limits. When it comes to selecting the right coverage, consumers are best advised to ask any questions they need answered from their insurance companies and if they’re not satisfied with the coverage or service provided, to shop around for another insurance company.
Homeowners 101: What are the Main Factors of Home Insurance?
When you are looking for homeowners insurance to protect your new house, it is important to understand the factors that are covered by a basic policy. Although coverage will vary between companies,...
Read More →
Ways to Lower Your Home Insurance Premiums
Every homeowner needs insurance, but if you’re like most of us, you’ll want to know how to lower your home insurance premiums without sacrificing coverage. So it’s good to know th...
Read More →
Understanding More About Home Insurance Policy Endorsements
A home insurance policy is designed to offer you insurance coverage for your home's structure and your personal property. It is also designed to protect you against any personal liability when some...
Read More →