Thursday, March 15, 2018

Property Insurance: which one should you choose?

Protecting your property is the first step to make your investment last. Whether it’s a long-term investment or a short-term rental, Property Insurance is the way to go when choosing the best way to take care of your new home. But how can you choose? We’ll explain it to you:

There are two types of insurance you can ask for: a hazard insurance and a flood insurance.

  • Hazard Insurance basically protects the structure of the house. It protects the property from fires, theft, vandalism, and more. These incidents are usually covered by a liability insurance;
  • Flood Insurance protects the property from damages caused by water. It not only protects the property and its structure, but it also protects the objects inside.

Now that you know which types of insurances there are, you might be wondering which one you can choose. And at the end of the day, it depends on what you’re looking for!

Hazard insurance is usually the most common for properties, since it usually includes liability. And unless you don’t live on the first floor, flood insurance is not necessary in this case. Flood insurance, on the other hand, is recommended if you live on the first floor or if the pipes are old. You can protect your property from any incident.

Property Insurance is the base for your new home, and Miami Riches is here to help. This is one of our new services. Contact us and we’ll start making business.

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