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Getting homeowner’s insurance can be quite expensive, especially for the people that are living in high-risk areas, such as close to major waterways, along with the known earthquake fault lines or even the ones near motorways. For these high-claim areas, you need to pay much money to get insurance coverage. In fact, they are often required to pay annual premiums which sometimes amount to thousands of dollars. Before you decide to get your homeowner’s insurance in Florida, here are a few important things that you should know.

What the Insurance Covers

A typical insurance policy will pay for the damage to your property and your possessions in the case of storms, fire, theft or vandalism. Just like renter’s insurance, homeowner’s insurance also covers shelter costs, which means that you will not have to pay the hotel bills or other bills if you are temporarily displaced from your house.

What the Insurance does not Cover

The standard insurance policies do have some exclusions including those that involve earth movements such as landslides, earthquakes, and sinkholes. Exclusions also include power failure, war, nuclear hazards, government actions, bad repair, defective maintenance, and flooding. The insurance usually does cover windstorms including tornadoes even though some insurance companies exclude the coverage for tornadoes or hurricanes in the high-risk areas.

The insurance for water damage is tricky. In most cases, the water from above, which includes rainwater or a burst water pipe in an upstairs apartment, is generally covered. On the other hand, the water from below, such as backed-up sewers or ground flooding is usually not covered. If the area, you are planning to buy a home in is prone to floods and earthquakes you should consider getting supplemental insurance coverage.