2020 was a wild year in many respects. As we move into the new year filled with hope the housing market remains strong. 2020 left us with a pandemic, an election and record low mortgage rates.
Hurricane Preparedness In Charleston SC
Dated: September 8 2017
If you're following the news, and surely most everyone is at this point, there is real potential that the Lowcountry will be directly affected by Hurricane Irma. If you live in the Charleston area, are thinking about it, or reside in any coastal area, here are a few things you should know on how to prepare.
In light of all the damage and destruction Hurricane Harvey has recently done in the Houston area, there's an important question that comes to mind as Irma approaches.
Are you covered?
When tragedy strikes, are you covered when it comes to insurance? Many people in the Lowcountry carry voluntary flood insurance, even if they are not in a flood zone. Should you have a voluntary policy? Please don't hesitate to ask us. We'll point you in the right direction in getting some new quotes.
*To prep for a potential natural disaster such as a hurricane, you should check with your insurance agent to confirm your current coverage and deductibles.
*Prior to the storm, you should also take interior and exterior pictures of your home, any valuables and important paperwork, and keep them in online storage in case your computer or phone is damaged.
*Your dishwasher or washer/dryer are actually great places to keep cash, valuables, clothes, photos or mementos, sealed in plastic bags in case of water intrusion or roof leaks.
Even your home owner's insurance may need re-evaluating. Here are four other instances that may cause you to look over your current policy and consider adjusting.
1) Renovating or Remodeling - making improvements to your home can add value, thus requiring move coverage. This doesn't have to mean that you'll see a rate hike, but, some things can help you save on your monthly premiums. Like adding a new roof. Just don't forget to let your insurance company know before you start the work.
2) Putting in a Pool or Trampoline - Clark Griswold wasn't the the only one with the fun idea to add entertainment for the whole family. Adding items like a pool or trampoline are considered a risk of injury or "attractive nuisance." So, increasing your liability insurance can keep you protected in case of an accident or subsequent lawsuit.
3) Inheriting Grandma's Goods - Whether you inherit Grandma's fine jewels or purchase them, find new, expensive art on a trip, or grab an antique steal at an estate sale, these items should be added to your policy to protect against theft or damage.
4) Starting a Home Business - There are actually protections for those just starting out in their home business, but many don't realize it. Coverage can be acquired through a homeowner's or renter's policy. If you've purchased new technology, inventory or equipment for your business, you may want to think about increasing your protection.
About Dan Lorentz, ABR, CRS, Founder & Team Leader of Greater Charleston Properties: Founder and Team Leader of the Greater Charleston Properties Team, Dan Lorentz, has lived in the Charleston, SC ....