Fire damage can be extensive. Your homeowners or business property damage insurance should cover you no matter how severe the fire damage. Your policy should allow you to restore or rebuild your property after the fire. It should also reimburse you for living expenses while your home is being repaired and restored. In addition, business property insurance usually covers lost business income.
Whenever we think about damage from hurricanes and other natural disasters, we usually think of damage done to property. But property damage insurance claims are more complicated for Florida business owners. Business property insurance covers damage done to both the structure and contents of the property and it also covers lost business income.
Whether it was Irene, Harvey, Irma, Maria, Florence or Michael, if you live in Florida, you probably were affected by a hurricane during the last couple of years. These recent hurricanes did serious damage to property. Even if you have prepared for the storm and have insurance, what you do after the storm can make a big difference in how your hurricane insurance claim is handled.
Generally, homeowner’s insurance policies renew every year. Unfortunately, many home-owners fail to look at their policy and instead just pay the renewal bill. However, it is important to carefully go over your policy in case there are any major changes that may seriously affect your coverage. After all, your home is likely your largest investment.