Stay Ahead of the Game: Insurance Mistakes Florida Residents Shouldn’t Make

Whether it’s home, auto, boat, or anything else, we understand that insurance can sometimes be confusing. Have no fear – that’s why we’re here to help!

Keep reading to learn how you can stay ahead of the game by avoiding these common insurance mistakes.

Getting a policy with too little coverage

Wanting to save money and going for a less expensive option is understandable, but keep in mind that you don’t want inadequate insurance. Not buying enough coverage for the future just to save money now has the chance to cause problems down the line. When it comes to paying too little versus paying the right amount, the difference is not that much, especially if you need to utilize your policy after an accident, intruders, weather damage, and so on.

Opting for the most coverage

On the other hand, getting the highest coverage possible might be tempting because you never know what could happen. However, try to avoid paying for something you might not need or use. If you know you’re not someone who files a claim for smaller losses, you’ll actually save money in the long run if you choose a plan that has a higher deductible and lower premium.

Not considering umbrella insurance or other add-ons

It comes as no surprise that not all damage will be covered by a standard insurance policy. However, not purchasing extra coverage could potentially mean higher costs for you in the long run. One thing to consider is liability. If you’re responsible for an accident and the damages exceed the limits of your auto policy, the extra could be covered by umbrella liability coverage.

Weather is another factor to consider. Florida residents are no strangers to extreme weather conditions, and living in the area means accepting that there is a higher level of risk than other states may face. While living in Florida, it’s best to prepare for the worst and keep in mind that insurance is your strongest defense against disasters and damages.

Opting out of flood insurance

As we just mentioned, living in Florida means dealing with extreme weather conditions. Flooding is the most common and expensive natural disaster in the U.S., and it’s a very real risk due to wetlands. Adding flood insurance can be expensive, but it’s essential when living in this area and an addition that you should not forego.

Not having a home inventory

Having a home inventory is essential and will make filing a claim easier and faster. The odds of remembering all of your possessions, especially in a time of distress, are slim, and you’re likely to forget some items in your claim. Having a home inventory and keeping it up-to-date will make your life easier in the long run.

Choosing coverage without sufficient research

Don’t make the same mistake as hundreds of individuals! As insurance policies can be confusing, many people purchase a policy in a hurry without thoroughly understanding the ins and outs of it. Make sure to do ample research before picking a policy that works best for you

There are plenty of mistakes that can be made when picking insurance policies, but that’s why we’re here to help! Located in Stuart, FL, Gambale Insurance Group can tailor your policy to meet your needs.