Many people tend to overlook home insurance in Florida because they think it isn’t necessary. Paying out-of-pocket for damages or liability in case of injuries on your property can get costly without insurance, and Florida is also prone to tornadoes and flooding. Here are some types of homeowner’s insurance in Florida.
HO1-Standard Insurance
Standard home insurance covers the dwelling and structures on the property from named perils such as theft, water damage, wind damage, and fire as well as personal injury. Loss-of-use is commonly covers expenses under homeowner’s insurance in case you have to live somewhere else while the damage gets fixed. While the state doesn’t require you to have home insurance your mortgage lender usually requires it.
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HO4-Renter’s Insurance
Renter’s insurance covers damages your personal belongings from named perils when you rent a dwelling. Named perils for renter’s insurance can include fire, flooding, leaks, theft, and freezing, but it doesn’t cover the structure. Renter’s insurance also covers you in the event of personal injury or someone else getting injured on your property and loss-of-use.
HO6-Condo Insurance
This policy typically covers the exterior of the condominium, land, loss-of-use, personal injury, and additional coverage can be added. Your Homeowner’s Association may require you to purchase it through paying monthly fees to them. Premiums vary based on location, structure, size, and safety features, and Florida law states HA must provide at least $2,000 Loss Assessment coverage to pay for damages more than policy limits.
Buying Home Insurance
Getting home insurance in Florida is a worthwhile investment.
Contact Kin insuranceto get a free quote.
