Tag Archives for " Best homeowners insurance "

Ordinance of Law Coverage

Florida-HomesmallWhy most of our customers have a general idea of what there Home insurance covers most don’t understand covered perils and how the claim is handled. Just like I don’t understand a lot of things under the hood of my car that the mechanic does. Ordinance and law coverage is one of them.

 

One of our clients in Winter Haven Florida had a kitchen fire recently they deemed the house was over 40% damaged because it was not built to code the county is requiring to be removed and rebuilt from ground up. The undamaged portion of the structure has to be tore down and rebuilt due to a change in municipal codes. This is where ordinance of law coverage comes into play.

 

Normally your policy comes with a percentage a lot of times it is 10% of the structure value, in some cases you can increase the percentage for a fee.

 

Ordinance of law coverage is designed to pay for:

  • Cost of the demolition and removal of the debris of undamaged portions the structure that must be torn down of modified.
  • Increased cost of reconstruction, that is the added cost to repair or rebuild in accordance with the current code. This may included upgraded electrical system sprinkler systems redesigning to meet hurricane resistant standards
  • Loss of Value of the undamaged portion of a building when it must be torn down to meet code requirements.

I would suggest becoming familiar with local and state zoning laws. You can contact zoning board and ask the questions such as:

  • Since the building has been constructed has there been any changes in code that could effect my property?
  • Does existing code prohibit from rebuilding, location or size, and what percentage has to be damaged to rebuild?

At Lock insurance we always recommend this coverage and really stress on older homes, contact us today so we can review your current policy to make sure you have the correct information so you can make a wise decision. Once the claim happens its to late to review your policy and implement the changes.

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What is the Best Home Insurance For You?

When looking at Lakeland insurance plans and policies, the options can sometimes get overwhelming. FLHOME1Which plan is right for you? First, you must consider the property you want to insure. Options for insurance include homeowners insurance, landlord insurance, renters insurance, vacant land insurance, condo insurance, and vacant home insurance. If you own the property and plan on living in it yourself, homeowners or condo insurance may be right for you. If you own the home but do not plan on living there, vacant home insurance or landlord insurance could be the key. If you are only renting a home or apartment, renters insurance is the obvious choice. And finally, vacant land insurance is often overlooked, but what happens if someone has an accident on your property?   Once you have determined which category of home insurance is the one you need, you need to start your research. There are many ways to go about this. Most states offer an insurance website, and this can be a valuable tool at the beginning of your research. These sites offer information including company ratings and any complaints that have been filed. From there, other insurance sites such as J.D. Power can offer more background information, including Better Business Bureau ratings for insurance companies near your ZIP code.   After you have done this research, you can narrow your search to a few companies with good ratings that you think might be a good fit. From there, you can comparison shop for the lowest rates. Many websites will offer you instant insurance quotes, helping further narrow your selection even before you call an agent. When you finally place a call, the companies will have agents ready to answer any questions you may have left about their insurance offerings.   After you have done this research, you can narrow your search to a few companies with good ratings that you think might be a good fit. From there, you can comparison shop for the lowest rates. Many websites will offer you instant home insurance quotes, helping further narrow your selection even before you call an agent. When you finally place a call, the companies will have agents ready to answer any questions you may have left about their insurance offerings.   By doing your homework and researching the companies, you can cut out a lot of the headache involved in finding the best home insurance for you. Soon you will be able to rest assure that your Lakeland property is properly insured.   Copy of IMG_0411By doing your homework and researching the companies, you can cut out a lot of the headache involved in finding the best home insurance for you. Soon you will be able to rest assure that your Lakeland property is properly insured.   Don Westerfeld 3/3/2011 12:55:00 PM

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