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Homeowners Insurance Policy in Florida

While no one wants to imagine anything bad happening to his or her home or personal assets, the reality is that it can happen to anyone and at any time. Homeowner’s insurance policy in Florida can grant you peace of mind that if any bad incident happens to your home, you will be taken care by the licensed insurance company and will have the best financial assistance available. On the other hand, there are many misconceptions about the homeowner’s policy that as a homeowner you should learn to make sure you’re not caught into one.

The most common misconceptions are:

1. Flood damage is covered

Homeowner’s insurance policy in Florida doesn’t cover flood damage and a separate coverage is required in addition to your standard home insurance policy and to be covered.

Read more at Flood Insurance

2. My and my family medical expenses are covered

The medical payment portion of your standard homeowner’s policy is designed to protect you in the event if a guest gets hurt on your property. It doesn’t cover you and your family in case of injury on your own property.

3. Making an inventory list of your possessions is of no use

The preparation of an inventory list isn’t a waste of time because it shows the proof of your ownership if asked to list all items that were lost or damaged in case event occurs. For successful filing of homeowners claim you will be asked to present the list of your damaged possessions to maximize your reimbursement.

4. Every time a claim is filed the premium goes up

A single claim will not result in an increase of your future premiums; however, filing multiple claims may result in an increase in premium. Therefore, it is recommended to estimate your own repair cost before filing a claim so if the cost isn’t too high then your deductible, it would be better paying out of your pocket rather than filing a claim.

5. Standard homeowners insurance policy in Florida covers all expensive valuables

Home insurance always goes with the limit it has on the amount of coverage for valuable items such as jewelry, antiques, etc. If a particular possession is worth more than the covered amount, you should purchase a high-value contents additional policy for those items.

Damage caused by lack of maintenance and mold is covered

Homeowners insurance policy in Florida does not cover mold damages caused by poor maintenance because a homeowner is responsible for the proper maintenance of the home.

Bottom line:

It is important to learn all the INS and OUTS of homeowners insurance policy in Florida to avoid major mistakes in future that many homeowners usually make.

If you are searching for sufficient insurance coverage for your beautiful and expensive home in Florida, please visit www.insurefloridians.com for more information and details.

Read: How 6 Simple & Cheap Homeowners Insurance Tips in Florida Can Help You Succeed?