By the time you reach your golden years, chances are you have a pretty firm grasp of how the insurance process works. However, there’s always room for extra knowledge. Here are three great homeowner’s insurance tips for seniors from our knowledgeable and friendly Dune Lakes Insurance team.

Tip #1: Understand Replacement Cost Value vs What You Paid for Your Home

One important homeowner’s insurance tip for seniors is to understand replacement cost value in contrast to what you paid for your home. If you’ve lived in the same residence for over a decade, chances are what you paid for it is far less than what it would cost to completely rebuild from scratch in the event of a disaster. Thus, it is important to always go with replacement cost value on your Santa Rosa Beach, Destin, or Inlet Beach, FL homeowner’s policy.

Tip #2: Raise or Lower Your Deductible

If you are able, consider raising or lowering your deductible accordingly. Seniors with a healthy bank account who could afford to pay out more in the event of a sudden claim should consider a higher figure. Those with a fixed income or limited means should look at a lower number. Work with your agent to determine the appropriate deductible for your situation.

Tip #3: Take Stock of Your Valuables

As you age, the number of collectible items such as jewelry, antiques, furs, guns, etc. may increase. It is important to regularly take stock of these items and get higher value items appraised so the true value can be recorded. Afterward, report them to your insurance agent to ensure coverage in the event of a claim, as most policies have limits on what they cover without a specific item schedule.
Are you ready to discuss your Inlet Beach, FL homeowner’s insurance policy? Contact our team at Dune Lakes Insurance to schedule your appointment today.