Home owners are often well aware that an insurance policy is necessary for their new or existing home however it is very common with any type of insurance policy for people to not have a clue what it says. Those who own real estate should pay careful attention to what their policy language says including what is covered and what is not in the event of loss or damage. Certain areas of the country such as Savannah, Georgia, may have different types of coverage than other regions. Even though properties in this area experience severe weather conditions, there may be things an insurance company will not pay for.
Flood insurance is typically separate
If you do not live in a flood prone area, you probably did not pay much attention to flood coverage. Folks in Savannah however are well aware of this natural threat and must be adequately prepared. Home insurance in Savannah may include coverage for wind damage however it may not for flooding. Flood waters, even ones that only come up a few feet, can destroy a home completely. Water and mud damage can significantly damage a home’s foundation as well as the wood and drywall materials that it is built from. Even shallow flood waters can cause a home to have to be knocked down and rebuilt from scratch. Many individuals assume that insurance will cover most any type of damage to a home yet insurance companies often sell separate coverage for flood related damage. This is not included in broad form coverage that people put on their homes. Individuals who buy a home with borrowed funds will be required to place a flood insurance policy on their property if they live in a flood prone area such as Savannah however those who have paid off their homes or for whatever reason do not have a mortgage on the property may not be introduced to this form of coverage. Asking about flood damage and coverage and also talking with your insurance agent about natural disasters in general will prepare you for re-building before something bad happens.
Your policy will change with your home
Just like with a lot of other products or services we purchase in our lives, we set things up and then tend to forget about them, especially when it comes to insurance which is not always the most enjoyable thing to buy. As people make changes, addition and updates to their homes, so too should they to their insurance policies. Additions such as extra square footage, a deck or patio, finishing a basement and other projects increase the value of a home. If you fail to notify your insurance company of these changes, you may not be covered for the full value of your home. Going over an insurance policy is typically not the first thing people think of when they are busy adding on to their homes however having routine checkups of your policy to make sure everything in your home is covered is a good strategy. Talking to your insurance agent once every six months to let him or her know about any changes or improvements you have made to your home will help them better prepare coverage in the event of loss or damage.
Home insurance in Savannah and in other parts of the country cover different types of damage and loss. Consumers who do not read their policies or have a professional go over the policy with them are often not aware of what they are covered for. Even if you live in an area where natural disaster threats are very obvious, you may still need to purchase additional coverage such as flood insurance. Your policy should also change with your home when new features are added or something is changed.