Lakewood Homeowners Insurance

Lakewood homeowners insurance is your key to greater peace of mind and increased financial stability. If you're concerned about the possibility of a fire, explosion, ruptured pipes, theft or another hazard that could strike your house, you'll feel more secure knowing that your property is covered by a Florida homeowners insurance policy. For maximum protection, look for a policy that protects your home against any potential hazard in the Sunshine State.

Lakewood, FL is an attractive community located in the Florida panhandle near the Alabama border. Lakewood is situated at a higher elevation than much of the rest of the state, which means that homeowners may avoid some of the hazards that affect houses on the coast. The residents of this community have worked hard to make Lakewood a desirable place to live, with plenty of recreational, cultural and shopping opportunities. Protecting your residence with Lakewood homeowners insurance is an expression of that pride.

Replacing Your Home in FL

When you purchase Florida home owners insurance, many brokers or providers will recommend that you insure your dwelling for the full costs of replacing the structure. Your home's full replacement value is not the same as your home's market value, or the amount that you could expect to get if you sold the property. The costs of replacing your Lakewood house using materials that are similar to the ones originally used would be significantly higher than your home's market value.

To arrive at a rough estimate of your home's replacement value, multiply the square footage of your residence by the current Lakewood construction costs per square foot. Construction costs often increase with inflation, so the costs of replacing your house today may be less than the costs of replacing it five or 10- years from now. The costs of materials may also rise, especially during a widespread flood, wild fire or other disaster in FL, when demand increases.

Your real estate agent, Lakewood homeowners insurance broker or a professional appraiser can help you determine a specific replacement value for your house. The building's age, structural components, plumbing and wiring and other factors can influence replacement costs. When you compare quotes from different Lakewood homeowners insurance providers, take the replacement value of your house into consideration as you're asking about the costs of homeowners insurance.

Protecting Your Home's Contents

The personal property that you keep inside your home is protected against the same hazards covered under your policy. As the owner of the house, you can file a claim for damaged or destroyed appliances, furniture, cameras, computers and other electronics, televisions or jewelry. Be aware that some basic property coverage policies will cover the cost of replacing your belongings at their current market value, which represents their original cost minus a wear-and-tear deduction. Other plans may cover the full replacement value of your property, at an additional cost.

High-priced items, such as jewelry, expensive cameras or computers, may require additional homeowners coverage. This additional insurance, called a floater or a rider, compensates you if these items are lost or stolen. Maintaining an inventory of all of your belongings is extremely important in order to ensure that you receive the maximum value if your home and all of its contents are destroyed. Keep photographs of your belongings, receipts and a detailed inventory to turn in to your Lakewood homeowners insurance provider when you file a claim.

In the event that you couldn't live in your home due to severe damage or destruction by a fire, wind storm, explosion or other covered peril, you could claim loss of use benefits. Loss of use benefits compensate homeowners for the costs of lodging, food and other expenses while you're staying at a motel or another location in Lakewood. The loss of use benefit typically provides for the needs of homeowners for a limited period of time, or pays a percentage of your total expenses.

Finding a Reliable Insurance Provider

Locating a reliable Lakewood homeowners insurance provider has never been more simple or convenient. When you evaluate insurance companies online, you have a wealth of resources at your fingertips. Request information on rates, quotes, covered perils and exclusions from a variety of Lakewood homeowners insurance specialists before you make a decision on this important aspect of your financial planning. Independent reporting agencies can tell you whether a Lakewood homeowners insurance company is financially stable.

A reliable provider should be licensed to sell policies in the state of Florida. If you have concerns about a company's credibility, check with your state's insurance department to verify licensing status. Ask friends, co-workers and family members about their experiences having claims settled with their providers. The more trust you can place in a company before you buy a policy, the more peace of mind you'll have about your Lakewood homeowners insurance.

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