Florida Home Owner’s Insurance

The standard homeowner policy is a combination of property insurance as well as liability coverage, in addition the homeowners policy affords the insured a great deal of ancillary coverage that most homeowners are not aware that they have.

First, let's take a look at the property insurance. The policy is broken into two basic sections.

The first section is section A. Your licensed Florida Insurance agent will use a replacement cost calculator based on the square footage of your home and other variable to determine the replacement cost of your home.

After the replacement cost of the home is established, that amount will be assigned as coverage A, that is the cost to repair or replace your home should it be destroyed or partially destroyed.

Your personal property, which consists of your furniture, clothes, and other valuable. An important note here under standard homeowner rules as long as you insure 80% value, at the time of loss the insurance company will pay replacement cost up to the selected 'A' coverage amount. (As your licensed Florida Insurance agent for more information)

An additional important coverage a homeowner can never overload is called additional living expenses, this is the money that will be paid to you should you have to leave your home because of a loss covered under the policy. This amount generally is 30% of the 'A' coverage.

We have just scratched the surface on explaining the basics of your homeowner policy the policy affords the insured a great deal of additional coverage such as credit card fraud, and counterfeit bill coverage to name a few. Ask your Florida Insurance agent to explain the details of your home owners insurance policy.

The second section of the homeowner policy is the liability section. This section is overlooked by the average insured however it is probably one of the most important coverages in place to protect you and your family. This coverage is going to provide you with legal defense fees (generally $100,000) should you or your family be involved in a wrongful death suit due to an accidental death that occurs on your property. The liability section also reports limited average for watercraft (please check your individual policy and discuss this with your agent).