In a world full of uncertainties, you would be a fool not to insure your valuables and assets. And when it comes to buying insurance for property, there are certain aspects that you must be aware of, especially when your home is on the coast, in the mountains or in any other special location. If you have just invested in oceanfront property on the coast, here is what you need to know before purchasing insurance:
- If you are going to live in the home full time, then you may have to go about insuring it against the usual factors like theft, damage and destruction caused by the elements of nature, and of course, accidental destruction because of human negligence or carelessness.
- Homes near the coast may be more prone to damage and destruction because of hurricanes or tsunamis (if you live in an area that is prone to huge waves or earthquakes), so ensure that your policy takes care of all these details as well.
- Ensure that your policy is detailed and includes every kind of damage possible. To give you an example, someone I know took out a policy insuring their home against damage from a storm. Unfortunately, the insurance company refused to pay up because even though there was a storm, the damage was caused by rising flood water. So be very specific in order to avoid both having to pay for insurance and not being able to make use of it. Be as conscientious about insuring your home as you are about your own health when buying a health insurance policy.
- If your home on the coast is more like vacation property that you visit once in a while, your homeowners policy may need more coverage to safeguard your home from theft and vandalism as well as the usual perils. An unguarded, empty home is a haven for miscreants who are looking for easy money. Some insurance companies insist on insuring your primary home as well if you want to buy a policy for your seasonal or vacation home, so discuss this with your agent before you sign up.
Speak to a reliable insurance agent and know all your options before you decide on a policy. Our Myrtle Beach Allstate agent, Scott Todd is one of the best. Visit his website at http://www.carolinapolicies.com/ and take advantage of his "Ask an Insurance Expert" service. You can find the answer to many of your questions about South Carolina Homeowners Insurance, HO6 insurance, or Renters Insurance in SC.
Our thanks to Elizabeth for her great article!