Since 2014, Labrador Claims has been handling Commercial and Residential Property Insurance Claims. We are located in Orlando, covering the Central Florida area.
Before buying a policy, ask your agent to explain buying an ACV, (Actual Cash Value) Policy or a Replacement Cost Policy. In the event of a potential loss in the future, it is important to understand the coverage you will receive.
Replacement Cost – This coverage pays to replace your property with current prices, no matter how old the property may be currently.
Actual Cash Value – This coverage will reduce the amount paid for your property, according to its age and condition.
An Insurance’s policy has these main coverage’s:
Homeowner’s Policy Coverages:
Dwelling – Coverage A Dwelling – covers your home (roof, walls, plumbing, electrical, flooring)
Other Structures – Coverage B Other Structures – covers typically cover sheds, fences, any structures not permanently attached to your home.
Personal Property – Coverage C Personal Property – covers your personal effects, such as furniture, electronics, etc.
Additional Living Expense – Coverage D Additional Living Expense – covers the cost of a hotel, rental home, and food expenses, if your home is damaged by covered damage and you cannot live in the home.
Law or Ordinance – This coverage, typically a percentage of the policy limits, is important in the event that building codes, enacted after a structure was built, require additional features not contained in the covered structure at the time of loss. Policyholders who purchase replacement cost coverage may expect that upgrades required by law are included in the coverage purchased, but some policies exclude these increased costs of repair.
Limits and Exclusions
Insurance companies are constantly reviewing their coverage and may limit or exclude coverages, in order to minimize their exposure to claims. In some cases, they might sell you a policy that limits the coverages. Some of the items that may be limited or excluded by your insurance company:
- Damages caused by water damage – usually to older homes.
- Screen enclosures and fences – usually after a hurricane.
- Loss or damage by theft or vandalism.
The insurance companies hire experienced adjusters to represent their interests. The experts at Labrador Claims represent you – the homeowner or business owner. We are experienced in policy language and will ensure that you are properly compensated for your claim. Never let the insurance company
tell you the amount of your claim!
Call us at 407-733-9997 for a free evaluation of your claim