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How to Buy Homeowner’s Insurance in Florida
Florida residents aren’t required to purchase homeowner’s insurance for residences they own. However, most mortgage companies demand proof of homeowner’s insurance before they lend you money.
Homeowner’s insurance protects your home financially from “covered perils,” such as fire, tornado or hurricane. Damage from flooding typically isn’t covered under your homeowner’s policy. Ask your insurance agent about obtaining separate coverage for flood damages.
What should you expect from your homeowner’s insurance policy?
According to the Florida Division of Consumer Services, “homeowner’s insurance typically covers the dwelling including attached structures, certain unattached structures and your personal property. Additional Living Expense (ALE) and coverage for Liability is also normally included. All coverage is subject to the limits specified in the policy.”
Homeowner’s policies vary greatly between insurers. Ask your insurance agent for a detailed comparison of available homeowner’s policies, one that takes into consideration your family’s specific needs.
First, figure out which types of homeowner’s coverage you’ll need. Types of homeowner insurance policies include:
- Owner occupied
- Condo unit owners
- Modified Coverage
- Mobile home
Recovery is limited under most homeowner’s policies for certain items of personal property, such as jewelry, firearms and antiques. Speak with your agent about obtaining full coverage for your most valuable personal items using supplemental insurance.
Florida Homeowner’s Insurance Policies Can Be Difficult to Understand
Next, learn which features of your homeowner’s insurance are the most important to recognize and understand. Talk to your insurance agent about which items in your homeowner’s policy deserve the closest scrutiny.
Homeowners insurance in Florida features rules and nuances that can be difficult to understand. Your insurance agent can explain the most complicated facets of homeowner’s insurance coverage, including:
- Rate factors
- Underwriting rules
- Cancellation policies
- Nonrenewal issues
Once you feel comfortable with the factors that influence the costs and coverage of your homeowner’s insurance, begin comparing policies with your insurance agent. Good Greek Insurance offers homeowner’s policies from more than 50 insurance companies.
Determining your homeowner’s insurance needs is your first goal. Selecting the company and policy that best reflects your family’s coverage needs runs a close second. To have the most coverage at the best price, you need to work hand-in-hand with your insurance agent to match your needs with the best available option.
Your insurance agent works for you to maximize your financial recovery from covered peril. In the aftermath of an event, your agent helps you conform to the requirements of your policy so you remain eligible for the maximum payout.
Your insurance agent also helps you value damaged assets, file damage claims and adhere to policy deadlines. In time of need, your Good Greek agent is there.
Questions to ask your insurance agent about homeowner’s insurance include:
- Should I raise my coverage limits because my assets have grown in value?
- Are liability and living expenses fully covered under my current insurance?
- Do I need supplemental coverage for my most valuable personal property?
- Does my homeowner’s policy include sufficient debris-removal coverage?
- How can I obtain flood insurance to add to my homeowner’s coverage?
- Should I include an inflation-guard clause in my homeowner’s policy?
Call (561) 935-3336 to speak with a representative now, or fill in the form on top of the page, to request an insurance quote today.
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