Property Insurance Orlando
What is it Property Insurance?
- Insurance to protect your home and personal belongings
- Generally a partnership of liability and casualty coverage
- Liability protects you in the incident of injury on your property, and casualty provides you funds if your property or belongings are damaged or destroyed following an “insured event”.
Tips to remember when considering a property insurance policy:
- Your risk factors. If your home is located in a forest fire danger zone, for example, your premiums will be higher. The company will consider these factors in providing a quote.
- The amount of coverage you seek. How much coverage do you need? Take an inventory of the things that might need to be replaced or repaired and speak with your agent about coverage. If the value of your home has increased, it’s important to make sure your policy matches your growing value.
- Your claim history. If you have previous property insurance claims, your premium will be higher, and this is another factor the company will consider when quoting you coverage.
- The valuable belongings you have. In the event of a catastrophe, having a file of videos or photos of your belongings will make the claims process easier. In the event of an issue, you are unlikely to remember all of the details regarding your belongings, but having a digital file stored somewhere online will help.
Property insurance falls into three different categories:
- Replacement cost: This coverage pays you for the property at face value rather than taking into account appreciation or depreciation of the items damaged or destroyed. For this reason, the premium quoted will be founded on the value of the prospected replacement costs instead of “cash value”.
- Actual cash value: This coverage will pay you for the cost of replacement but doesn’t consider depreciation.
- Extended replacement cost: This coverage will pay for replacement and above the limits if construction costs have risen, although this typically caps at 25% over the limit.
Property insurance is valuable for protecting your property in Orlando and your belongings in the event of a catastrophe. While every property insurance owner hopes they will never need to use their policy, it will provide valuable peace of mind and protection if and when you need it.
For receive a Free Quote on Orlando Property Insurance, call 407-898-8891 or fill out our Contact Form.
Corkhill Insurance Agency, LLC
20 S. Bumby Ave.
Orlando, FL 32803
T: (407) 898-8891
F: (407) 898-8813