Charlotte Homeowner Tips | Is Your Charlotte Home Adequately Insured?

In the aftermath of Hurricane Sandy, there are many rumors about the large number of homeowners who do not have enough insurance to cover the recent damages to their properties. Unfortunately, a good number of those homeowners never saw this coming. Many people simply don’t think about reviewing their policies until disaster strikes their Charlotte home — and then, of course, it’s too late.

Purchasing the appropriate type and amount of insurance is not a difficult task. Just consult with your real estate agent about what disasters you should prepare for that are specific to our area and then call a reputable insurance agent. Now is a great time to revisit your current policy, which we know can sometimes be a bit confusing but, it’s imperative that you do this.
Below are a few key words to look for in order to get you on track to having all your bases covered.

Dwelling or Building Coverage – Locate the amount listed on your policy and divide it by the square footage of your Charlotte home. Then, speak with your insurance agent to determine if your current coverage is enough. You will want to take into account lot size and building materials within these calculations. Again, something that your insurance agent can quickly do for you.
Liability Protection – This amount is what covers you if someone is injured on your property and decides to sue you for damages. It could be that your dog bit their child or someone slipped when getting out of your pool. Regardless of how it happened, lawsuits are quite costly and most liability policies start at $100,000. Are you covered?
Valuables – Many policies do not cover valuables such as art, jewelry, antiques, gold, or wine collections within the basic plan. However, you can typically add them for a small annual fee, certainly a worthwhile addition that is typically very affordable. Be sure to ask your insurance agent to ensure your precious items are, indeed, covered.
Condo Stipulations – Condominium coverage is a bit different than coverage for a single family home in that it normally only includes the items within the walls of your unit. Just to be sure that you are adequately covered but, not over-insured, review your policy with your insurance agent for confirmation.

A little coverage goes a long way when it comes to unforeseen disasters. Be sure to give your insurance agent all the information you have. If something looks misleading, then your claim could be rejected. Please call me at (704) 491-3310 or email me at SavvyBroker@me.com for more information about insuring your Charlotte home. We’re happy to provide you with the contact information of our preferred homeowners insurance provider–just give us a call!