ARE YOU COVERED? A HOMEOWNER'S INSURANCE GUIDE

No one likes to think about disasters. Severe weather, fire, theft—or even a seemingly small issue like a broken pipe—can wreak havoc on your home and result in thousands of dollars in damages. Fortunately, a good home insurance policy covers your home—as well as the belongings in it—in case disaster strikes.

While terms vary, most policies also help to protect you from liability if someone outside your household becomes injured on your property. And that liability coverage is often extended to include damage you (or anyone living in your household) may do to someone else’s property.

Homeowners Insurance

While you never want to leave yourself without a safety net, you also don’t want to overpay for insurance you don’t need (and will hopefully rarely use). Aim to strike a balance that will provide you with adequate protection at an affordable price.

Homeowners Insurance Covers Things Like:

Structure
Roof
Windows
Furniture/Personal Belongings
Liability for Non-Residents Injured on Property
Liability for Damage or Injury Caused by You or Your Pets

Most Standard Policies DON’T Cover Things Like:

Malfunctioning Systems and Appliances
Floods or Earthquakes
Slow Leaks
Power Failures
Neglect or Aging
Faulty Repairs

Home Warranties

Some homeowners choose to supplement their insurance coverage by purchasing a home warranty, which covers many of the systems and appliances in your home that are NOT covered by homeowners insurance. While policy terms and coverage vary, a home warranty will often cover the cost (after deductible) to repair or replace components of your HVAC, electrical, plumbing and some appliances that fail due to age or typical wear and tear.

Unlike homeowners insurance, home warranties aren’t required by mortgage companies. But many homeowners like the added financial protection and peace of mind that home warranties provide.

A Home Warranty Covers Things Like:

Plumbing
HVAC
Electrical
Major Appliances

Minimize Risk, Maximize Value

Now that you understand the basics of homeowners insurance, you should be ready to start shopping for a policy that best fits your needs and budget. Your goal should be to minimize your risk while maximizing the value your policy provides.

Once you’ve purchased your policy, avoid setting the annual renewal on autopilot. Instead, take some time to consider factors that have changed over the past year. Home improvements, a shift in market conditions, a new home-based business, or even growth in your overall net worth could mean it’s time to reassess your coverage.

Need Guidance? We Can Help!

If you have questions about purchasing homeowners insurance or a home warranty—or if you would like a referral to a reputable broker—give us a call at 772-530-6131! We’re here to help.

HOW DO YOU PROTECT YOUR HOME?

1. Get Notified

Whether you live in a high, moderate, or low-risk area, everyone is at risk for flooding. The County offers a notification service that sends you a text or email for major weather events. To sign up, visit www.martin.fl.us/ConnectMartin.

2. Purchase Flood Insurance

Most homeowners insurance does not cover floods. Flood insurance can be purchased through the National Flood Insurance Program, which offers Martin County Residents a 25% discount. Buy insurance before the water starts to rise! It takes 30 days after purchasing flood insurance for the policy to go into effect.

3. Know Your Flood Zone

Every property is located in a flood zone, but only certain areas are high risk known as Special Flood Hazard Areas — A, AE, AH, AO, V & VE. Your flood zone can be found at http://geoweb.martin.fl.us/flood.

4. Help Prevent Local Flooding

Keep trash and debris away from storm grates and inlets.

5. Build Accordingly

It is important to build responsibly and safely. Any new structure or improvement to a structure, whether it is an addition, alteration, re-roof, etc. must have a building permit prior to the start of construction to comply with Martin County and FEMA Regulations.

6. Learn More

To learn more, contact Public Works at 772-288-5466 or visit the following links: