1. Not So Common Questions About Home Insurance Coverage

2. There are many questions to be asked before purchasing any form of insurance coverage, and the more questions you can ask, the less likely you are to misunderstand a policy or purchase coverage that doesn’t meet all of your needs. When it comes to buying a home insurance policy, there are many questions that are often asked, and some that are perhaps not so common, but no less important: Q: How much coverage should I buy for a tenth-floor property? A: As home insurance pays for the costs associated with the construction of your home and not the cost of land, and is calculated by multiplying the carpet area of the apartment with the cost of construction in that city, whichever floor your home is on, you’ll be paid for the cost of construction.

3. Q: How does living with friends affect a home insurance policy? A: Whomever the property belongs to can take insurance cover for its structure and their part of the contents, while friends living there can take out policies for their part of the contents. However, if coverage becomes too complex and segregating the contents may prove troublesome, an insurer can deny you cover. Q: Will my contents be covered if water leaks through a common tank? A: Home insurance policies typically cover damage caused by burst and/or overflowing water tanks, but leakage caused by a crack may be more of a proper maintenance issue, and might not be covered. However, it pays to check with your chosen insurer, as this may differ from insurer to insurer.

4. Q: If my house is sold, what happens to my insurance policy? A: Whoever owns the house must inform the insurance company and cancel the policy in the event of it being sold, as they will no longer have an insurable interest in it. New owners of the home are advised to purchase a policy in their name.

5. Q: Is damage to my home covered if it was unoccupied at the time? A: If the insured party has taken out a householder package policy then any losses of content will not be payable, if the house is unoccupied for a consecutive period of 7 days or more. That said, if a standalone fire policy for the structure and contents has been taken out, then the damage will be covered, excluding any valuables. Be warned that non-occupancy has varying definitions, so checking with your insurer in advance, is strongly advised.

6. Q: Will damage caused by rain flooding my basement, be covered? A: If you’ve declared it in the proposal form, and the sum insured is calculated after including your basement, then yes, it will be covered. Q: If my car is parked in the garage, will it be covered? A: Vehicles cannot be included in homeowner’s insurance policies, and will need to be covered under a separate motor insurance policy.

7. Ultimately, it’s important to recognize and appreciate that while you may not find a policy to cover you for every eventuality concerning your home, any kind of policy is better than no policy. To discuss home insurance in more detail, schedule a consultation with a professional insurance company.

8. We Insure Miami was founded on the principle that every individual and business, big and small, has assets and valuables that need to be protected and insured against forces outside of our control. We offer Auto, business and homeowners insurance in miami. Our agents understand that you work hard every day to protect your car, home, business and family. WE are passionate about Insurance and passionate about serving you. If you are looking for auto or business or home insurance in miami, contact us for a quote or a complimentary review of your insurance policies.