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Yeah sure… I always review my insurance policy…

Paying the premium for your property is the first and last time anyone ever thinks of their insurance policy. However, understanding what you are paying for and how this will affect your claim is priority number one!

Texas should not only have us rethinking life and safety issues, but also how much insurance will participate when a loss occurs. It’s not how, but when will a claim happen to your property.

As Hurricane Irma churns in the Atlantic, it is too late to amend your policy or bind coverages, but it is perfect timing to stay in contact with us to navigate the claims process. We can make sure all your benefits and coverages are being applied to your specific loss.

NAIC is there for you – in identifying policy conditions, schedules, endorsements & advocating for property owners we excel.

Lets break the policy down to quickly review some of the vital areas you should consider:

  • Declaration Page
    • Property identified properly?
    • Amount Insured- Home or business adequately insured to value?
      • Structure: Can you rebuild it for that amount?
      • Contents: Is this enough to replace my belongings?
      • Loss of Use/ Business Interruption: Will this amount suffice?
    • Additional Insured- other than named insured that insurance benefits extend (IE: Mortgage Company)
      • Does this apply or must be amended?
  • Endorsements- Adding or taking away of coverage
    • Do you understand how this affects the policy, your damages and premium?
    • Do you need additional coverage?
    • Values increased?
  • Obligations in the event of a claim
    • What are my duties and rights?
  • Flood v Wind v Standard 
    • Do I need all 3 policies?
    • When do each pay?

Ask your agent about the following:

  • Insured to Value
  • Perishable Items
  • Article Floaters- Guns, jewelry, etc. 
  • Screen Enclosures
  • Upgrade to Code

Remember to Always:

  • Seek safety first
  • Locate your insurance policies
  • Protect your property
  • Take plenty of photographs (Pre- Loss & Post-Loss)
  • Retain all receipts- food, hotels, temporary repairs, etc.
  • Identify building plans and/or architectural drawings (if applicable)
  • Report claims within a reasonable time frame.

 

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