Here on the Eastern Shore, we have so many beautiful coastal homes. While owning your coastal property may be a dream come true, the reality of coastal home insurance can sometimes feel like a nightmare.
But no need to worry! At Staples & Associates, our team is well equipped to help you navigate insuring your dream get-a-way. We’ve got you (and your home) covered with this guide to coastal home insurance.
3 Homeowners’ Insurance Tips for Coastal Properties
1. Understand Additional Insurance Coverage
Coastal properties often need additional insurance coverage because of the greater exposure the home faces. The first step is figuring out how far away your property is from the coast. On average, a home that is 3 miles or less away from the coast requires additional coverage. This insurance differs from normal homeowners’ insurance because of separate deductibles like:
- Wind Deductibles.
- Named-storm Deductibles.
- Hurricane Deductibles.
2. Get Flood Insurance
Although the deductibles add coverage for your coastal home, homeowners’ insurance does not cover flooding. Flood insurance is highly recommended, especially for clients close to the water. Homeowners who live in designated flood zones are required to purchase insurance for flood damage. Remember, only a couple of inches of water can cause thousands of dollars in damages. With flood insurance, rest assured that you’ll be taken care of!
3. Look for Discounts
Owning a coastal home and insurance isn’t cheap, but with Staples & Associates, our agents can provide a quote and help you find ways to lower those costs. You want the best protection possible for your home, and home safety features do more than just add protection. They are also the best way to receive discounts on your homeowners’ insurance. Consider reinforced roofs, storm shutters, and more that could qualify you for lower prices and keep your home safe.