Valrico, FL, United States, Florida
Home Insurance
fishhawkins.com can assist you on your new home purchase or review your existing policy.
Getting home insurance can be confusing and daunting endeavor. Especially in the state of Florida, a high catastrophe state surrounded by water, hurricanes and currently embattled with a wave of litigation & constant state changes. Home insurance premiums are on the rise.
Florida Homeowners Insurance Policy
These policies are offered by a wide range of insurance companies, as different homeowners insurance companies cater to different home types and geographic locations.
Getting home insurance can be confusing and daunting endeavor. Especially in the state of Florida, a high catastrophe state surrounded by water, hurricanes and currently embattled with a wave of litigation. Home insurance premiums are on the rise.
Florida home insurance policies provide coverage for six sections of insurance coverage. A typical home policy form is broken down into the following six primary coverage sections.
Getting home insurance can be confusing and daunting endeavor. Especially in the state of Florida, a high catastrophe state surrounded by water, hurricanes and currently embattled with a wave of litigation. Home insurance premiums are on the rise.
Florida home insurance policies provide coverage for six sections of insurance coverage. A typical home policy form is broken down into the following six primary coverage sections.
Florida Homeowners Insurance Coverage Sections
Coverage A: Dwelling Coverage
Coverage A. This is your dwelling coverage and provides coverage for the actual home itself. Mortgage lenders require homes are insured at a minimum to their replacement cost
Coverage B: Other Structures
This second section provides coverage for other structures on your property. Examples of these structures are fences, sheds, and detached garages.
Coverage C: Personal Property
This line of coverages provides for protection of your personal belongings. This can be described as what would fall out of your home if it was turned upside down and shaken.
Think things like furniture, electronics, toys, clothes and tools.
This coverage has 2 coverage forms. Actual cash value or replacement cost.
Coverage D: Loss of Use
reimbursement for additional living expenses if a covered peril does damage your home to an extent requiring you to temporarily move out of it. This may be applied to a hotel or rental home in such a situation.
Coverage E: Liability Coverage
This coverage provides for medical bills and legal fees if someone happens to be injured on your property or in the case you are found liable, ie your dog bites someone. If you happen to have a pool or trampoline, you may want to consider increasing your liability coverage for peace of mind.
Coverage F: Medical Payments Coverage
This section covers against payments for minor medical bills to those injured on your property. It is important to know that this applies regardless if the injury was your fault or not. The typical coverage amount is $5,000 per claim.
Homeowners Insurance Policy Types
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HO-1:
Most Limited
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HO-2:
Slightly Better than HO-1
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HO-3:
Most common
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HO-4:
Renters
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HO-5:
Most Comprehensive
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HO-6:
Condo Owners
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HO-7:
Mobile or Manufactured Homes
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HO-8:
Renters
Covered Perils
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Lightning
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Fire and Smoke
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Explosion
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Vandalism and Malicious Mischief
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Damage from Car, Vehicle or Aircraft
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Theft
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Falling Objects
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Weight of Ice, Snow, or Sleet
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Water Damage
? Am I required to have home insurance?
It is your mortgage provider that will require homeowners insurance.
? It is your mortgage provider that will require homeowners insurance.
Typical exclusions include things like earthquakes, sinkholes, nuclear war and floods. Flood insurance needs to be purchased separately through the national flood insurance program.
? Are Floods Covered
NO!!! Your home insurance policy does no cover flood damage. The entire state of Florida is in a flood zone, what zone is your home in? Definition of a Flood- A general & temporary condition of partial or complete inundation of two or more acres of normally dry land area at two or more properties. (At Least one of which is your property) Your lender may make it mandatory on your loan if your home is located in certain flood zones.
? Why is the annual premium for my home insurance so high?
Location, age of home, wind mitigation features, claims history & YOU.
? What discounts are available?
Current Wind mitigation & 4-point inspections. Think of it as your roof & house’s report card.
Wind Mitigation provide the biggest discount
homes built prior to the 2001 Building Codes; the discounts are based on the following:
Roof Covering
Roof Deck Attachment
Roof Shape
Secondary Water Resistance
For homes built in compliance with the 2001 building code or later, the discounts are based on the following:
Roof Shape- Hip
Shutters- intermediate Type & Hurricane Protection Type
4-point inspection assures the house is in good order & being well maintained. These reports look at your electric panel, plumbing, ac unit, & water heater.
Florida home insurance in today’s market will not offer coverage until they review these documents first. A certified & licensed home inspector performs these services. We can schedule these services for you with our trusted providers across the state.
Other discounts may include like hurricane proof windows, hurricane shutters, gated community, fire & burglar alarm.
