At Harrell Agency Services, we write a lot of homeowners insurance policies. So along with that, we also hear a lot of myths or concerns about insurance that are either untrue or unnecessary. Here are some common myths we debunk on a weekly basis...
Paid in Full
Some of our clients will confuse this discount with their car insurance. They will ask what the cost of their home insurance policy is when they pay it in full. The answer is... the same price as when you pay it on a payment schedule! Now, most insurance companies will add a payment fee when you make payments on the policy, but those tend to be around $10 per payment, and the common payment plans are quarterly, meaning you are looking at a savings of less than $40 per year when paying in full.
Old Roof Syndrome
It is very common for our potential clients to ask what happens if their roof starts leaking. This is sort of a trick question, so I'll explain... if your roof is leaking because a windstorm or hail has caused damage to the roof, then you'll need to consult with us about filing a claim, and it is most likely covered. If your roof is old and is becoming deficient in its ability to keep water out of the house, then what you have there is an old, leaky roof! Insurance companies do not cover wear and tear. The company might cover the damage from the leak, such as damage to drywall or electrical issues, but they will not replace your roof just because it is old and leaking. There needs to be some sort of sudden incident that causes the roof to leak, such as a tree or tree branch striking the roof.
Now this is one we mostly hear from our snowbirds or international clients. They are always concerned with being able to purchase hurricane coverage on their homeowners insurance policies. This is very rarely a problem. I don't know that I have ever run into an issue getting hurricane insurance on a home, especially in Central Florida. One would have to beg me to not include hurricane coverage in order to not have it on their policy. If you are close to the coast, it can be costly, but securing hurricane coverage for your homeowners insurance policy is not an issue.
We know that home insurance can be daunting at times. At Harrell Agency Services, we have been through multiple hurricanes, sinkholes, hail storms... you name it, we've probably seen it! We can guide you through something that might be daunting to you, but is everyday life for us. If you ever have any questions, just let us know. We love discussing your insurance concerns! We're your go-to insurance agent in the Orlando area!