Insurance is a need for anyone who buys a home. There are quite a few costly situations that home insurance covers. Natural disasters, home invasions and liability lawsuits are just three examples. Other situations that may arise include damages due to pets. Or damage due to a car accident that involves your home or garage.
If an incident occurs, you won’t be able to include additional coverage afterward. Coverage needs to be in effect before the incident happens. Otherwise, any damages to your home, garage or other dwellings won’t be covered or reimbursed. Therefore, knowing the kind of coverage you need before the incident can go a long way in choosing the right policy for your needs. That’s where we come in.
The insurance policy options can vary by state. For example, Florida residents require different home protections than people in other states do. Your best bet is to contact us for details. We specialize in generating Florida home insurance quotes and will provide a specific quote for your profile.
Types of Homes Covered By Most Policies
Home insurance policies can often cover several different types of structures that are used as dwellings. Some of the types of dwellings include:
- Homes the Owner Lives In
- Homes the Owner Rents
- Condo Units
- Nontraditional homes, such as RVs
- Home trailers
Contact us for a free quote for Florida residents. Protect your home today.
What Does the Policy Cover?
Insurance for homes covers the main home, most importantly. It often also covers certain buildings. Personal property is also covered. An example of a cover building would be a garage. Another could be a shed. Or any building located on the property but not physically attached to the house.
Many policies include money for additional living expenses. These expenses are for a situation where the home is left inhabitable due to damage or other reasons. Homeowners can also get quotes on Florida home insurance that includes personal property. Personal property can include jewelry, art, cameras, phones, etc.
Home insurance policies can offer money or a replacement of whatever property is lost or damaged. If a ring is stolen, your insurance company might give you the money for the cost. Or they may replace the ring. It depends on the type of plan you choose in your policy.
Some natural disaster coverage requires a separate insurance policy. This 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 home insurance policy can be different for many reasons. Some of the factors that are used to figuring out your premium are:
- Address. The county and zip code are factors in extra taxes and fees
- Amount of coverage. Policy add-ons would raise your coverage but also raise the premium
- Safety 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 for further information.
Tips for Homeowners
- Be sure your policy is legit. Verify the agent’s license with the insurance company to avoid scams.
- Make a list of all items in your home. Photos and 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 fine print of the policy is an important responsibility for the homeowner.
- Make a copy of important papers to keep elsewhere
- Renters should have home insurance, too.
In some situations, a bank 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 at risk for unpredictable weather. The weather can damage property and homes.
Home insurance policies protect against more than weather damage. They can also protect your valuables if your home is robbed. Your home insurance policy covers any damages paid to someone injured on your property.
Homeowners insurance protects your family in the event of a situation that threatens your home’s safety. The policy covers unexpected hotel rooms. It can replace something of value stolen from your home. A Florida home insurance quote will save you money while protecting your home. Put your mind at ease and contact us today.