IBS FINANCIAL GROUP INC.
333 CAMINO GARDENS BLVD SUITE 100 BOCA RATON, FL 33432 561-620-0900
Home Insurance
Your house is one of your largest investments. IBS Financial Group can help you protect this large financial asset and the place you and your family call home.
Home insurance is an insurance policy that protects your home structure and property. Your home insurance policy covers damage done to your home, the contents inside a home and the loss of the homes use (personal living expenses while out of your home due to damage). Your home insurance policy will also protect you against liability from an accident that might occur at your home.
IBS Financial Group can also help you secure your valuable possessions under your homeowner policy. You will want to make sure that your homeowner’s insurance is placed with enough coverage to replace the house and also replace the contents inside. Your IBS Financial Group Insurance agent can help you determine how much additional coverage above the home’s value should be added onto your policy. Some items that will be covered under your policy are:
• Engagement and Wedding Rings • Fine Jewelry
• Appliances • Clothing
• Furniture • Electronics
• Clothing • Valuables
Damages caused by earthquakes, floods, “Acts of God” or war are excluded from a standard homeowner’s insurance policy. Special insurance policies are available to protect yourself from these possibilities, such as a flood insurance policy.
Most individuals borrow money to finance the purchase of their home. The lenders will require a borrower have home insurance as part of the agreement to qualify for a home loan. This protects the lender’s investment in the case that the house is destroyed. Your home insurance payment and mortgage payment are often rolled into one bill so the lender can ensure that the borrower is paying the insurance premium.
Lowering Home Insurance Costs and Saving MoneyLowering your home insurance rates is not the easiest task in today’s market, but by following the below tips you can take control of your home insurance costs and start saving money. At the same time, cost should not be the only factor considered when comparing home insurance policies. It’s important to understand the coverage you will be receiving for the price and determine if it fits your personal needs
• Windstorm Inspection:As a homeowner with windstorm insurance, state law entitles you to certain premium reductions, but without an inspection, you can't get them! If you haven't had a windstorm insurance inspection at your current home, YOU ARE PAYING TOO MUCH FOR YOUR WINDSTORM INSURANCE!
According to the Florida Department of Financial Services, before getting a windstorm inspection, the average homeowner is overpaying by 22%!
The cost of the Windstorm Inspection is around $100. Most companies GUARANTEE that you will save at least this amount from your existing policy premium, or they will refund the difference between the inspection cost and your savings!
• Shop Around: One the most important ways to save money on your homeowners insurance is to comparison shop. Your IBS Financial Group Insurance agent will provide you with a free homeowners quote from several of the top insurance companies. This makes the shopping and comparing your home insurance easier than ever – we do the research and work for you!
• Raise Your Deductible: By raising your home insurance deductible, you can save money on your insurance premium costs. It’s extremely important, however, to make sure you can afford to pay the increased deductible should you need to make a claim.
• Increase Security: Adding deadbolts, security alarms and smoke detectors to your home may increase your discounts. Each insurance company offers different discounts for these types of improvements and your IBS Financial Group Insurance agent can review with you which discounts you might qualify for. If you are considering installing an expensive alarm system, make sure to discuss it with your Insurance agent before purchasing to make sure the system will be eligible for a discount. Not all systems are considered the same by insurance companies.
• Good Credit: Maintaining a good credit rating will increase your chances of being eligible for lower policy costs. An increasing number of insurance companies are utilizing FICO scores in establishing insurance costs.
• Dog Choice: Is man’s best friend increasing your insurance risk? Certain types of dogs will cause your insurance rates to go up. Check with your Insurance agent before getting a dog to make sure the breed will not cause an increase in your home insurance costs.
Renter’s Insurance
Don’t overlook the value of renter’s insurance.
As a renter, it’s easy to overlook the true value of your property. But add it all up and you may be surprised at what you’re worth. Considering the value of electronics, computers, art, heirlooms and necessities like cookware, clothing and furniture, an average two-bedroom apartment can easily contain thousands of dollars worth of personal property.
This can leave you a potential victim to fire, theft, lightning or any of the other perils covered by a renter’s insurance policy.
IBS Financial can even make sure you’re covered against lawsuits and medical expenses that result from personal injury or property damage. For example: If a party at your apartment gets out of hand and someone injures themselves, your renter’s insurance can protect you against damages.
You’ve worked too hard to lose it all overnight.
Your valuable possessions are NOT covered under your landlord’s insurance policy.
Protect Your Belongings
• Furniture • Jewelry
• Clothing • Appliances
• Electronics • Valuables
Why IBS Financial. . .
By choosing IBS Financial you gain access to well known insurance carriers that are recognized for their reliability and customer service to meet your needs. Why not contact an independent Insurance agent today for a fast, no-obligation quote?
Insuring Your Valuables
Insuring your valuables is an important point to consider when purchasing your homeowners insurance. Most homeowner insurance policies will cover your house and its contents. However, most of these policies have coverage amounts that are limited for certain items. Review your valuables with your IBS Financial Group Insurance agent to determine if you need additional coverage outside of your homeowner’s insurance policy for items such as jewelry and collectibles. Also, review the estimated replacement costs of these valuable items with your IBS Financial Group Insurance agent. It’s often tempting to estimate low the cost of your home contents, such as furniture and electronics, to save on your premium but it is important to have an accurate estimate should the need ever come to actually purchase the replacements.
Additional policies are available to specifically cover your valuables. These additional policies are commonly referred to as floater policies. The floater policy will cover your valuables at an agreed upon dollar amount, as specified on the insurance policy. For example, if you have an extensive fire arm or jewelry collection, you might agree on $50,000 as your floater coverage amount. If you have valuables such as fine china or antiques, check with your Insurance agent about insuring them against accidental breakage. Accidental breakage of your valuables would not typically be covered by a standard homeowner’s insurance policy.
A benefit of having a floater policy in place for insuring your valuables is that floater policies typically do not have a deductible. This means that your coverage begins with the first dollar of loss. Another bonus feature of floater policies is that they also cover mysterious disappearance of the valuable. Mysterious disappearance involves not knowing how the item was lost.
Your approach to risk management is an important discussion to have with your IBS Financial Group Insurance agent when reviewing your homeowners insurance. Your IBS Financial Group Insurance agent can help you determine the correct steps to take to set up your risk management strategy for protecting your valuables. Certain items may need documentation of value, which can be gathered by having your items appraised by specialists.
