Your home insurance policy needs to be reviewed on a regular basis. Just as you change over the years, your home insurance needs change as well. At Ingram Insurance in Cheraw, SC we are here to help with any questions you have about your home coverage.
When your policy renews
When your home policy renews, it is the perfect time to take a look at your declaration page and make sure that all the figures make sense. Is your deductible right? Do you have the endorsements you need to protect you against things your policy might exclude? All the figures will be right there for you to look at.
When you make major changes
Have you made any major changes to your home? Added square footage, added another bathroom, finished the basement or attic? All of these can increase your square footage and increase the value of your home at the same time. Give your insurance carrier the information they need to give you the coverage that is right for you.
When your income changes
It is one of Murphy’s laws that the more money you make and the more assets you have, the more people will sue you for. If your income has risen significantly since you took out your home insurance policy, consider upping the liability coverage and maybe consider an umbrella policy.
When your liability changes
Have you added a swimming pool to your home? Gotten your kids a trampoline? Found a four-legged friend you can’t live without? These are all things that can raise the risk of your being sued and needing more liability coverage. Talk to your insurance agent asap.
Reach Out To Us!
Contact the office of Ingram Insurance in Cheraw, SC and let us help you to review and make adjustments to your home insurance coverage.
It’s important to secure the proper insurance for your property so that, in the event of an unforeseen circumstance, you may receive the reimbursement you need. Homeowners insurance is not a requirement under Cheraw, SC law, but your lender will usually require it until your balance is paid.
What Types of Hazards Does Homeowners Insurance Commonly Not Cover?
Flooding is a common occurrence that can be devastating to your foundation and frame, creating vast water damage and eroding the structural integrity of your home. This hazard is one that was covered in decades past, but that became too expensive for insurance companies to continue including.
There is now a national program that handles situations involving flooding, and your Ingram Insurance representative can help you obtain specific indemnification to protect against these events. Mudflow can also potentially fall under your flood insurance hazards.
Earthquakes are another peril that will need its own separate dedicated policy, particularly if you live within the state of California. This is categorized under the movement of the earth and can also extend to situations like sinkholes.
Residents of other states besides California can sometimes purchase an add-on or an endorsement, but it is nevertheless a coverage type that cannot be assumed to be part of a standard homeowners policy.
Other problems that are usually exempt are overflowing sewage systems or sump pumps and malfunctions that occur due to owner neglect. Rot and mold as well as insects and pests, chewed wires, termite infestations, and rusting are, likewise, often outside the scope of coverage.
Ingram Insurance Can Help You
We are specialized in providing superior insurance products and services to our clients, and we invite you to reach out to us by phone, internet or stop by the office to discuss your needs. Ingram Insurance serves those who live in and around Cheraw, SC.
South Carolina regularly incurs hurricane damage and although Cheraw, SC lies 102 miles inland, the winds and rains of hurricanes still reach it. We just don’t incur the wrath of tidal surges.
Does my home insurance cover hurricane damage?
Your home insurance covers wind damage, but you may want to check your policy to ensure it provides enough coverage. Your policy protects your financial investment in your home by insuring it against damage from named perils, such as hail, fire, etc. This differs by state, so if you recently moved to South Carolina from a state that required a separate hurricane insurance policy, you only need your home policy in SC.
A hurricane includes wind, tidal surge (flood), rain, lightning, and frequent hail. Your home policy protects you financially against damage from all of those perils except the tidal surge flood. (That’s a rising water flood and only covered by flood insurance.)
The damage from a hurricane can include water damage though. Let’s say a tree gets struck by lightning and falls on your home. It knocks a hole in your roof that allows rain to enter. This type of water damage from a hurricane your home policy does cover.
At Ingram Insurance, we encourage home buyers about to become homeowners to buy their policy before June, when hurricane season begins. If you already own your home, think about increasing your insurance coverage before June, so you can better protect yourself financially through the hurricane season’s end in November.
Give Us A Call
Contact us at Ingram Insurance serving the Cheraw, SC area to learn more about hurricane coverage in your homeowners’ policy. We’re happy to answer your questions and help you obtain or update your home insurance so you can viably protect your financial investment in your home.