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Daytona Beach Lawyers > Blog > Property Damage / Insurance > Getting The Most From Your Property Damage Insurance Coverage

Getting The Most From Your Property Damage Insurance Coverage


Considering the high costs you pay for property damage insurance, getting the most from your coverage is a top priority. The following are steps you can take to protect yourself, both when purchasing your policy and when filing a property damage claim in Daytona Beach.

Reducing Homeowners Insurance Costs 

Due to the threat of tropical storms or hurricanes and the high number of claims that are filed each year, residents of the Daytona Beach area pay outrageously high property insurance rates. Reducing the overall cost of your policy, while at the same time maintaining the proper level of protection, can save you significant amounts of money. Tips that can help include:

  • Shop around for coverage: Insurance companies can vary widely in terms of the price of their policies. The National Association of Insurance Commissioners (NAIC) can provide you with information on various providers in the Daytona Beach area, which includes ratings from prior and current customers.
  • Be aware of your risks and common types of property damage insurance: Be aware of the different types of risks you face in your particular area as well as the different types of coverage available. For example, not getting flood insurance can save you money on premiums but if you live in a flood zone it could cost you significantly more in the long run.
  • Read through all policy documents carefully: Pay attention to deductibles, which can be increased to lower policy premiums. Be familiar with policy term limits and exclusions as well. These can save money now but could result in added expenses in the event damages occur.
  • Update your policy yearly. You may be able to save money due to discounts for being a long-time customer. It is important to conduct a yearly inventory as well, as you may be able to reduce coverage levels due to selling certain property or depreciation.

Maximizing Property Damage Claims

In addition to reducing the costs of your property damage coverage, you can save money by taking steps to ensure you get the maximum amount from any property damage claims that are filed. The Insurance Information Institute (III) recommends the following:

  • Report any types of damages to your insurance company immediately.
  • Keep your insurance documents handy and review the terms.
  • Make a detailed list of all losses and take pictures as evidence.
  • Accompany insurance adjusters when they survey your property, pointing out damages.
  • Keep all receipts and a record of expenses you incur, including if you have to stay somewhere else during repairs and any lost income you suffer as a result.
  • Carefully review all settlement offers carefully. Once you accept, you will be forfeiting your right to seek additional compensation.

Reach Out to Us Today for Help 

To ensure you get the maximum amount you are entitled to in a property damage claim, speak to our Daytona Beach property damage attorneys at Bundza & Rodriguez before accepting any settlements. To request a consultation, call or contact our office online today.



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