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.
Is it True That a Home Insurance Claim Will Count Against Me?
When you purchase insurance, regardless of whether you buy a home, auto or health insurance policy, you do so with the expectation that if and when you have to file a claim for a repair, the compan...
Read More →
Homeowner Basics: Exploring your Home Insurance Options
As a homeowner, you have a lot of decisions to make. One of the most important is choosing the right insurance to protect you and your finances in case the unexpected occurs. While understanding in...
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 →