Insurance for your valuables is a very serious thing. Most people, however, often look cost over coverage. This could end up costing you more in the long run. Insurance that is less expensive is always appealing to the naked eye. However, did you ever stop and think, “Why is this so cheap”? In some instances, the coverage is not like for like and that is why the difference in price. In some cases, an insurance bargain can lead to a devastating consequence. Here at All Risk Insurance, we go over the options and coverages that are available to you and let you, the insured, decide what is most important to you and your family. A knowledgeable consumer is our best customer.
Some of the coverage listed below should be considered:
Deductibles: The lower the deductible, the higher the premium. If an insured feels that they can absorb some of the cost of a potential claim, then perhaps it would make sense to raise your deductible, thus lowering your premium. However, if you are not in the financial position to pay out of pocket for damage sustained to your property, then the lower deductible would be your better option.
Replacement cost for your personal property: There is Full Replacement Cost and Actual Replacement Cost for your personal property. The Full Replacement cost is more costly, however, it will replace like for like. The Actual Cost Value is a depreciated value and will pay you on a lower level to replace your belongings. Full Replacement is more expensive in premium than Actual Cost. It is whatever suits your individual needs.
Make sure you are working with an independent agent whose support and expertise will keep you financial risks well covered. Here at All Risk Insurance, we want to help protect your family from a being improperly insured. The BBB has rated All Risk Insurance as an A+ company for 12 years of service to the residents of Florida. Feel free to give us a call at 561-395-5220. Our office hours are Monday through Friday, 9:00 a.m. to 5:00 p.m. If you want to contact us after hours, do not hesitate to send us an email at lisa@allriskinsurancegroup.com