Additional Insurance Coverage
You have to look no further than your local paper or the internet to read about the barrage of lawsuits in our court system today. Settlements in the millions of dollars are more commonplace than ever before. What if you accidentally injure someone and you are the one being sued? You auto and homeowners’ policies may provide substantial liability coverage but it may not be enough. Catastrophe (umbrella) policies provide an additional $1 million or more of coverage to your personal liability. While it doesn’t replace your auto or homeowner’s policy, is does provide additional coverage to keep you and your family even more financially secure.
An Inland Marine policy is designed to protect specific property with broader coverage than a homeowner policy. Coverage can be written on an all-risk, open-perils or named perils. Special policy floaters can cover a variety of items such as fine art, furs, jewelry, electronic equipment and more.
Your homeowners policy does NOT provide flood coverage. Determine if flood insurance is right for you
All types of homes including condos are eligible for flood insurance. You can even purchase flood insurance to protect your contents if you rent your home.
But while most homeowners insurance is set up to get your home and belongings back to their pre-loss states, flood insurance is designed to simply get you back on your feet — it’s not as comprehensive as most homeowners policies.
Flood insurance doesn’t cover basement improvements like walls, floors or ceilings and personal belongings that are kept in the basement. It does usually cover washers and dryers, food freezers and the food inside. Water tanks, oil tanks, furnaces, stairways, unpainted drywall and sheet rock walls and ceilings are generally covered as well.
Ask your insurance agent or insurance company representative if your home is in an area that is likely to be flooded. If it is, your agent may be able to help you get flood insurance. http://www.floodsmart.gov/floodsmart/
It’s a good idea to start the process as soon as you can, because most flood insurance policies have at least a 30-day waiting period before they take effect.
Premium costs for residential properties vary depending on coverage, which is available for your building, contents or both. Your Agent can help determine the flood risk level for your home and property and advise you on the appropriate level of insurance protection.
“We have been with Wilson Insurance many years and have always been very satisfied with all their service. Wilson Insurance staff goes the extra mile and then some. If they do not know the answer to your question, they will research and find the best answer and solution for you. The staff at Wilson Insurance are very knowledgeable and friendly. It has always been a pleasure dealing with Wilson Insurance” ~ Brad & Anna