Real Estate Market in Wesley Chapel and Tampa Bay Florida

It's a good time to remind homeowners in your market area
to check their property insurance coverage. While
hurricane season doesn't start for two more months, many
experts say Floridians should study their policies now
rather than waiting to find out how much coverage they
have after a hurricane damages their home. A coverage
checklist should include an analysis of hurricane-specific
coverage, with a quick math calculation on the
deductible's dollar amount if it's stated as a percentage.
A 2 percent deductible -- generally the lowest available
-- would still cost the owner of a $300,000 home about
$6,000 before the insurer reimbursed the first dollar in
damages. Also, rising real estate values have led to many
underinsured homeowners, as has a rise in the cost of
building materials. Some policies have an automatic
inflation increase; others do not. Finally, homeowners
should consider flood insurance if they're not covered
because the "whole state of Florida is a flood zone,"
according to Tim Shaw of the Tim Shaw Insurance Group
in Naples.

Source: Planet Realtor, FLORIDA ASSOCIATION OF REALTORS