Insurance

WSVN -- For most of us our home is our most valuable asset. That's why insurance is so important.

"We normally recommend you take replacement costs on your contents."

Whether you own or rent a home or condo, you need windstorm coverage.

It covers any damage done to your home by wind or flying debris, but if you have to make a claim it comes at a high price.

"Your windstorm deductible is typically based on a percentage of the value of your house. It could be two percent. It could be five percent."

And that can mean paying thousands of dollars out of pocket. Another important policy to have, flood insurance. It covers any damage done by storm surge or flooding.

"Just because you're not in a flood zone, does not mean your property does not have or could not be flooded."

If you live in a flood zone, your mortgage holder will require you to have flood insurance.

Condo owners also have to protect their property from a storm.

"There are policies specifically designed for condominium unit owners that cover the interior of your unit."

Your association pays the insurance for the building and the pool, but you have to insure everything inside your unit.

"Kitchens, bathrooms, any buildings flooring, any decorative that you've added, any moldings that you've added to the unit."

The same is true for renters. You are responsible for insuring, your belongings and whether you are a renter or an owner choosing the right coverage is critical.

Experts say you should choose replacement coverage.

"That would pay to replace your contents."

Other types of coverage give you only pennies for what you own. Replacement coverage costs  more but if you lose everything, you'll be glad you have it.

"You have your clothing everything in your kitchen, you have your linen contents. It's more than thinking about furniture and electronics."
 
Christine Cruz: "Finally, don't forget about your car. You'll need a comprehensive insurance policy that will coverage any damage during a storm."