Exp Realty LLC
Insurance perils are specific events covered in your policy. It's important to understand the limits of your homeowners insurance policy, especially any excluded perils. Here's a quick guide to the basics:
A named perils plan covers 16 types of peril. However, it's not a universal list. For example, wind damage is not included in certain coastal zones and must be separately endorsed.
The words risk and danger are similar to each other and are sometimes used interchangeably. However, insurance counts them as separate things. A risk is the possibility of a loss, while a peril or hazard is the actual cause of a loss.
Some common examples of insurance risks include:
The HO-2, HO-3 and HO-5 types of homeowners policies determine if your policies are defined against a set of specific risks based on location or home features.
A homeowner is affected by the perils insured in their policy, but so is the insurance company. Increased risk and covered perils both pose a higher cost to your insurer, which can increase the cost of your coverage.
Your mortgage lender could also be indirectly affected by home insurance risk because damage could negatively affect your home's value. To determine the specifics of your homeowners insurance, consult your provider for details.
Have you spent the past 35 years learning all you can about your new home in Brevard County? Do you know which neighborhoods meet your needs? Which school districts are the best? Where you get the most value for your investment and what local infrastructure changes are just around the bend?
Jo Ann does. She has loved this area since moving here over three decades ago. As a qualified realtor and parent, she knows the right questions to ask and can help you find your perfect home regardless of whether you’re a first-time or forever-home buyer. Condos, townhomes, and single family homes on the mainland or luxury homes on our barrier islands, Jo Ann can assist you in making the right choices for your current and long-term residence. And if you decide to rent while looking, she can help with that, too.
With the same dedication Jo Ann has put into training to run half marathons and other short races, she will explain the buying process, answer your questions (over and over if needed), and guide you through the hoops to home ownership. Call or email and let’s get started.