Mistakes that could end up costing you.

Record-setting snows pummeling the Northeast, tornadoes sweeping across the Midwest, unbelievable heat searing the southwest, and storms flooding the south: we are now starting to experience the beginning of the effects of climate change.

Storms are likely to bring unfortunate stories to homeowners when they realize that their insurance cannot cover them because the damages are not written out in their policy. Meaning that they could face huge unanticipated expenses. Here are 3 costly mistakes to avoid if you are a homeowner.

Mistake #1. Assuming you’re covered for floods.

Flood insurance is not part of the standard homeowners insurance policy. Living by any body of water puts you at risk, and is something you should definitely purchase. Coastal homes aren’t the only ones at risk. Flash floods and obscure weather patterns can happen anywhere!

Mistake #2. Thinking your deductible can’t fluctuate.

Different disasters call for different deductibles. It could be $500, $1,000, or even $15,000! Things like earthquakes or hurricanes make your deductible a percentage of the coverage; as much as 10 to 15 percent! If your house is insured for $300,000 you could slapped with a $15,000 deductible.

Mistake #3. Being underinsured.

If you thought paying $15,000 in damages was bad, then you won’t like this: not having enough coverage for your home is the worst mistake you could possibly make. Most homeowners are only covered for the amount of their mortgage. This amount may only be 80 to 90 percent of the value of the house.

Talk to your independent insurance agency to determine your need for homeowners insurance and the best fitting policy for you! Contact Fox Insurance Agency for a quality and reliable home insurance and auto insurance in Beaverton, OR policy!