Homeowners insurance is a necessity for anyone who purchases a home. There are several protections that home insurance covers. Natural disasters, home invasions and liability lawsuits are just three examples.
If an incident occurs, you won’t be able to include additional coverage afterward. Therefore, knowing the kind of coverage you need beforehand goes a long way in choosing the correct policy. That’s where we come in.
The policy options vary by state. For example, Florida residents require different protections than New Yorkers. Your best bet is to contact your local agencies for home insurance quotes in Florida. They can provide specific information for your living situation.
Types of Homes Covered
Home insurance policies often cover several different types of dwellings. Some of the types of homes include:
- Owner-Occupied Homes
- Rental Units
- Condo Units
- Nontraditional dwellings, such as RVs
- Manufactured homes or House Trailers
Contact us for a free Florida home insurance quote. Protect your home today.
What Does Homeowners Insurance Cover?
Homeowners insurance covers the dwelling. It often also covers certain attached and unattached structures and personal property. An example of an attached structure would be a garage. An unattached structure could be a shed. Or another structure located on the property but not physically attached to the dwelling.
Many policies include provisions for Additional Living Expense. These expenses are for the event where the home is left inhabitable due to damage or other reasons. Additionally, homeowners can get quotes on Florida home insurance that includes personal property, such as jewelry, art, camera equipment, etc.
Home insurance policies typically offer money or a replacement of whatever property is lost or damaged. For example, if a ring is stolen, your insurance company will either reimburse you for the value or replace the ring. It depends on which type of coverage you opt for in your policy.
Some natural disaster coverage requires a separate insurance policy that isn’t included in your homeowners policy. Speak to your insurance agent for more specific information.
What is the Premium Based On?
The premium for property covered under your homeowners insurance policy can vary for different reasons. Some of the factors that are used to calculate the premium are:
- The county and zip code are factors in additional taxes and fees
- Amount of coverage. Optional coverage would increase your coverage but also increase the premium
- Mitigation Credits. Check your policy to see which items that help in natural disasters will reduce your premium
- Materials used in construction of home. Some insurance companies base their premium on the fire resistance of the building materials
- The age of the home. Premiums might be higher for older homes
There are other, individual factors that increase or decrease a premium. Your insurance agent can explain the specifics of their policies when you inquire about your Florida home insurance quote.
Tips for Homeowners
- Be sure your policy is legit. Verify the agent’s license with the insurance company to avoid scams.
- Make a home inventory. Photos and receipts (or other proof of ownership) makes for a smoother insurance claim if the time comes.
- Keep your policy current. Lapses in your homeowners insurance can cause your premium to rise.
- Review policy before buying. Reading the exclusions and limitations are essential responsibilities for the homeowner.
- Make a copy of fundamental documents to keep elsewhere
- Renters should have home insurance, too.
In some situations, a lender may require a home insurance policy in place before loaning the homeowner money. For example, if the home is collateral on a loan, lenders may require a minimum amount of home insurance.
No one wants to think a natural disaster or other event will affect their life and home. However, it can happen to anyone at any time. Coastal states are especially prone to unpredictable weather phenoms that can damage homes and other property.
Home insurance policies protect against more than weather-related damage. They can also protect your valuables if your home is the site of a robbery or other criminal activity. Your home insurance policy covers any liability or damages sought by someone injured on your property.
Homeowners insurance protects your family in the event of a serious situation that threatens your home’s safety. The policy covers unexpected hotel accommodations or replaces something of value stolen from your home. A Florida home insurance quote can put your mind at ease and help you prepare for the worst.