insurance

Why You Need Both Home Insurance and Flood Insurance

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Homeowners virtually know how important it is to have home insurance. However, many don’t know that they also need flood insurance. Both of these policies work together to protect your home from the various risks it faces. If you don’t have flood insurance, it’s time to find out more. To get started, you can contact us at Tim Huber Insurance, serving St. Augustine, FL. 

Standard Home Insurance Doesn’t Cover Floods

One of the most important reasons to get flood insurance is that your home insurance won’t cover a flood. There are specific exclusions from home policies, and flooding is one of them. With just a home policy, your home would be completely unprotected from the cost of a flood. It’s important to have home insurance to cover a wide range of situations, but it’s also important to have flood insurance for this risk. Flooding can cause extreme damage to a home, sometimes requiring a complete rebuild.

Flood Zones

Many people believe that they don’t need flood insurance because their home isn’t in a flood zone. While these zones are good predictors of flooding, flooding often occurs outside them. About one-third of all flood claims come from areas that aren’t inside a flood zone, according to the Federal Emergency Management Agency. Virtually anywhere can flood, and floods are always extremely expensive to remediate. Few people could handle the costs of a serious flood without flood insurance.

Get Flood Insurance

If you don’t have flood insurance, your home is vulnerable to the high cost of flooding. Make sure this never happens to you and keep flood insurance for as long as you own the home. Contact us at Tim Huber Insurance. We’re currently serving St. Augustine, FL.

How Boat Insurance Protects Against Theft of Equipment and Accessories

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Your boat represents a significant investment, but it’s not just the hull you need to worry about. All those electronics, fishing gear, and accessories can add up to thousands of dollars. At Tim Huber Insurance in St. Augustine, FL, we help boat and watercraft owners understand how their coverage protects against theft of valuable equipment.

What Does Your Policy Cover?

Most boat insurance policies include coverage for permanently attached equipment, such as GPS units, fish finders, and radio systems. This coverage typically applies to items that are bolted down or hardwired into your electrical system. However, the definition of "permanently attached" can vary between insurers, so it’s important to review your specific policy language.

Personal property coverage is another key component. This protects removable items like fishing rods, tackle boxes, life jackets, and portable electronics. Many policies set limits on personal property coverage, often around 10% of your boat’s insured value.

Understanding Policy Limitations

Here’s where things can get complicated. Many policies only cover theft when there is evidence of a break-in, such as signs of forced entry. If someone takes your unsecured fishing gear while you’re grabbing lunch, you might not be covered. Some insurers also exclude coverage for theft of items left in open areas, such as on deck or in unlocked compartments.

High-value electronics often require special consideration. For example, a $5,000 fish finder might exceed your standard limits, necessitating additional coverage or a scheduled item endorsement.

How to Protect Your Investment

The best strategy combines proper insurance with smart security practices. Document your equipment with photos and serial numbers, use locks, and consider removing valuable portable items when leaving your boat unattended.

Tim Huber Insurance in St. Augustine, FL, can review your current coverage and help ensure your valuable boat equipment is properly protected.

Condo Insurance Coverage for Personal Belongings Inside the Unit

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In Florida condo living, it’s easy to assume the building’s insurance covers everything, but it doesn’t. The condo association’s master policy typically protects the structure and shared areas, not the contents inside your unit. That means your sofa, TV, clothing, kitchenware, and other personal items aren’t covered unless you have your own condo insurance, ideally through Tim Huber Insurance, serving St. Augustine, FL.

How Personal Property Coverage Works

Your condo insurance policy includes personal property coverage, which protects your belongings from events like theft, fire, vandalism, and certain types of water damage. In Florida, where storms and hurricanes are common, this coverage is especially important. For instance, if a wind-driven rainstorm causes interior damage or a pipe bursts unexpectedly, you’ll want protection for your possessions.

Actual Cash Value vs. Replacement Cost

There are two main ways your insurer can reimburse you: actual cash value (ACV) or replacement cost. ACV pays you based on the item’s current value, factoring in depreciation. Replacement cost, on the other hand, covers the price of buying a new version of the item. While replacement cost coverage may increase your premium, it typically provides more value when filing a claim.

Don’t Overlook Special Items or Flood Risk

Standard policies often have dollar limits on high-value items like jewelry, fine art, or collectibles. To fully protect these belongings, you may need to add scheduled property coverage. Additionally, most condo policies don’t cover flooding, which is an important consideration in Florida. If you live near water or even in a low-risk zone, adding separate flood insurance could save you from significant financial loss.

Having the right condo insurance is about more than meeting basic requirements; it’s about ensuring your belongings are protected when it matters most. At Tim Huber Insurance, serving St. Augustine, FL, we’re committed to helping you get the coverage you need. Contact us today to learn more.