Basic Features of your Florida Homeowners Insurance

Posted by jorn | Posted in | Posted on 23:04

A basic homeowner’s insurance policy in Florida covers potential hazards such as fire, lightening, smoke damage, windstorm or hail damage, and from volcanic eruption, explosion, damage from a vehicle or aircraft, falling objects, damage from electrical surges, water damage from plumbing, vandalism, theft, or riots.

This is a standard policy and does not cover personal property damage, which is everything inside the dwelling such as furniture, clothing, jewelry, and may include appliances. A comprehensive policy will cover personal property damage among other things that a basic homeowners insurance policy does not. A standard policy does not cover all potential hazards such as expansive soils, landslides and hurricanes. For instance, if you live in an area that is prone to earthquakes or flood, it would be wise to have a policy that covers those items. Or if you live in an area where it snows heavily, you should consider a policy that includes coverage for damage due to pipes freezing or damage caused by the weight of snow or ice.

Personal Injury Coverage

Another important option a comprehensive Florida home insurance policy provides is liability insurance which offers coverage for personal injury. This protects you in the event someone is injured on your property due to an accident. It also includes coverage of their medical payments regardless of who’s at fault and protects you and your family members from liability lawsuits.

Condo Insurance

There are also policies provided for the condominium homeowner. Find out what your association covers before deciding on a policy. Typically, but not always, a condo association policy will cover the common areas, liability insurance for the association and the outside structure of your home. That means you are liable for the rest. Everything inside the exterior, including the walls is your responsibility. For example, if your water heater leaks and damages your floors, you are liable. Make sure your homeowner’s policy has you fully covered.

Policy Exclusions

All homeowner’s insurance policies have exclusions. Look at the exclusion statement before you sign on the dotted line. Making the proper decision depends on what type of coverage you need and where your home is located in Florida. Research and educate yourself with the different types of policies available in order to make a well-informed decision. Ask questions and shop around to find the best Florida home insurance policy that works for you. Arm yourself with information and be prepared when it comes to obtaining insurance for your new home. You’re protecting your asset and the right policy will make it less stressful and give you the peace of mind you deserve.

Comments (0)