How To Master Home Insurance Policies In Florida

by Michelle Spinneweber 02/11/2019

Every Florida homeowner knows that they need home insurance, but the details can be foggy. Home insurance protects your investment in your home and your possessions. Your mortgage company will expect that you purchase home insurance before you’re even able to secure a loan. Your home has a fair value. That’s the number amount in coverage that you’ll need for your home loan. This value is determined based on the price that you bought the home for. 

Policies Differ Greatly

You’ll need to look at your home insurance policy very carefully. The terms can vary based on the company, the area you live in, and how much coverage you choose. Many plans will only cover the exterior or the interior of your home. Certain types of natural disasters like floods or earthquakes may also require add-ons to the policy. Most policies include the following:




Damage from lightning

Damage from hurricanes

Tree damage

If your property does suffer a loss, your insurance company will first give you an estimate of the damage. Then, they’ll pay you so you can get the damage fixed. Your insurance company can even recommend certain professionals to you for the repairs to be made. In extenuating circumstances, your property may need to be rebuilt entirely.

Insurance Doesn’t Cover Everything

There are certain things that your home insurance won’t cover. Living in Florida, you may want to take a closer look at your policy. While your home insurance may cover damage caused by a hurricane, it won’t cover flooding or water damage. You may need to add things to your home insurance policy to cover yourself. Keep in mind that home insurance doesn't usually include routine home maintenance.  

The Interior Of Your Home

Your home insurance will cover most of the contents of your home. These items include furniture, electronics, clothing, appliances, and other belongings. If your dishwasher breaks, you can’t call your insurance company, but if a tree falls on your home and your dishwasher is affected, your insurance company can certainly help you out.   

Each Policy Covers Something Different

You may be surprised at what your home insurance policy does cover. Your insurance may include things that aren’t in your home. If your diamond tennis bracelet is stolen while you’re on vacation, you can call your home insurance company even if the item wasn't in your home at the time. Depending on the type of policy you have you may have partial coverage for many of your more expensive possessions no matter where you take them. 

About the Author

Michelle Spinneweber

Hi, I'm Michelle Spinneweber and I'd love to assist you. Whether you're in the research phase at the beginning of your real estate search or you know exactly what you're looking for, you'll benefit from having a real estate professional by your side. I'd be honored to put my real estate experience to work for you.