There are still several months left of 2017's Hurricane Season, so if you live on the Eastern Seaboard and have not made insurance preparations, it's time to do so now. K.L. Smith Agency, the leading seller of homeowners insurance and property insurance in Willimantic, CT, offers an insurance checklist to help you make sure you're adequately protected. A bit of advanced preparation can give you peace of mind and potentially save you thousands of dollars.
Hurricane Season Insurance Checklist
Do You Have Enough Dwelling Coverage?
You should have enough dwelling coverage on your homeowners insurance policy to rebuild your home, even if it were a complete loss. Some people only buy enough to pay off their existing home loan balance; this is not nearly enough protection, and it could leave you homeless and without recourse after a powerful weather event.
Have You Created a Personal Property Inventory?
You need enough insurance to protect your personal property as well. To get an accurate coverage amount, you create an inventory of your personal belongings, including furniture, clothing, and other valuables to determine replacement costs. This way, you'll know you have enough property insurance coverage.
Do You Have Enough Additional Living Expenses (ALE) Coverage?
How much would it cost you to live if your house became uninhabitable? You need enough ALE coverage to pay for the hotel rooms, meals out, laundry, and other living expenses you'd incur if a hurricane damaged or destroyed your home.
Can You Afford Your Hurricane Deductible?
Unlike most deductibles (which are a dollar amount), hurricane and windstorm deductibles are usually a percentage of the cost of damages. This means, the greater the damage, the more you have to pay before your insurance policy kicks in. Discuss your hurricane deductible amount with your homeowners insurance agent, and try to set aside the amount you'd need to pay out-of-pocket to rebuild your home.
K.L. Smith Agency, the foremost property and homeowners insurance agency in Willimantic, CT, can help you complete your hurricane season insurance checklist and make sure you have enough protection. They'll also walk you through your car and motorcycle insurance needs as well, since a severe storm can damage more than just your home. Visit the website for hours and directions, or call (860) 423-9294 to discuss your needs with a friendly, helpful professional.