Are You at Risk? Local Threats and Your Insurance

With all of the recent flooding that our northern neighbors have experienced, we were prompted to do some thinking on the risks that can, and do, affect our insurance policies right here in Polk County, and the greater Central Florida area in general.

Knowing your local area and the potential risks that can hide there is very important when choosing your insurance policies and making sure you’re covered on every front.  Here in Winter Haven, there are a few key things to watch out for when putting together your coverage plan.

Water, Water Everywhere

While Winter Haven and the surrounding area isn’t as prone to flooding as the coastal areas of Florida, we DO have the risk of floods due to all of the lakes and waterways that make up a large part of our community.  Lakefront homes especially need to be aware of the risk of flooding or water damage in the event of severe storms and/or heavy rain.  Most insurance policies don’t automatically cover flooding damage, requiring the homeowner (or business owner in the case of commercial property) to plan out additions to their policies.  Carroll Marshall is here to help you navigate the various policies and terms and make sure your home, business, and belongings are covered in any (wet) event.

When looking over your insurance coverage, it’s also wise to be aware of how much your policy covers regarding storm damage in general (wind damage, falling trees, etc.).  Central Florida is no stranger to storms, especially during the summer months.  It’s better to be safe than sorry, and making sure you’re covered ahead of time will give you valuable peace of mind.

Crime Coverage

No one wants to think of their nice, suburban neighborhood being the center of crime, and while you might not hear of violent crimes happening on the streets very often here in Winter Haven, there are reports that estimate an average of 1 in 23 homes affected by property crimes each year. Most homeowners policies include, or go hand-in-hand with, hazard insurance, which covers issues such as fire and smoke damage, hail damage, and even vandalism of your home and property.  Since the levels of coverage vary though, you are wise to sit down with your insurance advisor and go over your policy in detail.  If you feel that your coverage is not adequate, discuss this with your advisor and make sure you have complete confidence in your insurance coverage.

Stay Current

Perhaps one of the biggest lessons to be learned from our South Carolinian neighbors during this time of devastation and flooding is to keep your insurance coverage up to date.  If you purchased your homeowners policy as a young newlywed, and now you have a family of 6 (and all of the belongings to go with them!) you probably need to reevaluate your coverage with your insurance advisor.  Added a new room onto your home or renovated your garage to make more bedroom space?  You need to make sure there is additional coverage for those things.  Any and all life changes need to be evaluated in light of your insurance policies.  Unexpected events are hard enough to deal with on their own.  No one needs the added heartache of realizing they don’t have enough insurance coverage to fix things and return their life to normal.

We hope this gives you some things to think on in regard to your own insurance policies.  If you are worried, or confused, about your own coverage, give us a call.  Carroll Marshall is here to help you sift through the hard stuff and you can trust us to make sure you are taken care of in any event.