If you own any property in and around Crawfordville, Havana, Monticello, Quincy, Tallahassee, and the surrounding areas, you need to look at having the right property insurance in force. Property insurance is a more general insurance term that can cover any number of insurance options, including home insurance, renters insurance, flood insurance on a property, and more. Our team at Pichard Insurance Agency has helped hundreds of property owners get the right property insurance so that they are protected from losing everything from a bad incident, and we can do the same for you and your property. Call us today to learn more and get the right property insurance in force.
Know Your Property Insurance Coverages
Property insurance coverage is an important aspect of your property insurance, and you should understand what you are getting with the kind of property insurance you get. Actual cash value coverage means that if you lose something on your property, the insurance company will provide you with funds that equal what that same item would be worth today. Often people think this is a good level of coverage, but essentially you are only getting the value of a 10-year-old item.
The next level of coverage is replacement cost value. This is when you receive funds that would allow you to replace your lost item with a like item as it costs today. For example, if you lost a manual can opener, you would receive the funds to replace that hand can opener at today’s cost. Finally, there is extended replacement cost value. This means that you could receive funds beyond what it normally costs to replace an item. These policies will state how much beyond replacement cost they will cover.
Other Special Considerations With Property Insurance
With your property insurance, the coverage limits on what is covered could be exceeded by some items that you own. Because of these limitations, you may find it necessary to get additional riders to your property insurance to help call these special items out for additional coverage. Without these additional riders to your insurance policy, you will reach these hard, predetermined limits and likely be out hundreds, if not thousands of dollars.
What items should you be looking to include on a rider for your property insurance? These are often expensive items, and many times a family will have several of these that should be included for special consideration. Any expensive jewelry can qualify for the special treatment, including engagement rings, wedding rings, and other special jewelry that is otherwise irreplaceable for a number of reasons. Firearms are another potential special category, especially if you are a collector of older firearms that are no longer being made and/or are rare. The whole idea for property insurance in Crawfordville, Havana, Monticello, Quincy, Tallahassee, and the surrounding areas is to protect against loss. Call our team at Pichard Insurance Agency today to have us help you get the right protection for all of your property.