Miami, FL -- (SBWire) -- 09/23/2020 --Think hard about flood insurance. Flood insurance is a separate, discretionary purchase for many homeowners though it may be needed if the home is mortgaged. Remembering that typical insurance plans for homeowners do not cover flooding, it's a strong consideration to take into account. A mere inch of water can result in thousands of dollars worth of damage.
Have a clear awareness of the deductible and how it works. New homeowners could make the mistaken assumption that it's better to pay the lowest possible premium to keep expenses low. Although it may seem logical, homeowners should remember that a decreased premium tends to result in a higher deductible. This means requiring more out of pocket expenses before the insurance will provide coverage, and if the home is damaged, it might prove expensive.
This information is provided for educational or informational purposes only and should not be construed as legal advice. The information is not provided in the course of an attorney-client relationship and is not intended to substitute for legal advice.
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Consisting of attorney Rafael Alonso, the law firm dedicates itself to representing businesses and individuals across South Florida in insurance disputes. The firm is passionate about serving its clients as a primary resource and partner in all aspects of their business growth and financial development. For more information call 305.443.6321 to speak with a Miami insurance attorney or to request a free consultation.
