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Flood insurance is sold as separate coverage and is designed to protect your dwelling and contents from water that is “run-off”. Generally, water that is on the surface and runs into your dwelling from outside is not covered unless you purchase Flood Insurance. By determining your flood zone, the percentage of dwelling and contents you wish to protect and the construction type of your home, flood insurance premiums are determined and set through the National Flood Association.

Earthquake coverage is excluded from typical home insurance policies unless specifically requested. By adding this protection to your home policy you are protected from this catastrophic loss, however, the normal deductible does not apply. Earthquake deductibles are set by each company based on a percentage of the dwelling value. Example: A $100,000 dwelling with a 4% deductible would have to sustain over $4,000 (the deductible), before coverage begins.

Because the cost to repair and replace your damaged property increases each year, the coverage to your dwelling should also increase each year. Your home should be insured at 100% of what it costs to build at today’s prices. If the required 100% is not carried, the insurance company may penalize the settlement of a claim based on the underinsured percentage. Make sure you always insure to 100% and your policy includes the inflation guard protection.

The term inland marine floater makes you think of a toy boat in the tub. However, for insurance purposes, inland marine means anything that is on land and floater means that it is protected if taken from place to place. For instance, you are wearing a precious watch given to you by a loved one. If the watch is damaged, disappears or is stolen, there is limited coverage unless you “schedule” this item on your home or inland marine policy. A current appraisal, bill of sale with the description and value are required every three years to keep up with the appreciation of your pieces. Inland Marine schedules can include such things of appreciation as, fine arts, figurines, jewelry, silver, guns and furs. You can even schedule camera equipment, golf clubs and hearing aids. Think about your items and review them regularly with your agent.