Category: Home Insurance

6 reasons you need homeowners insurance in Florida

Most of us won’t think twice about insuring a new car or applying for health insurance for ourselves and our families. But what about homeowners insurance in Florida? Your home is almost certainly the greatest investment you have. It’s probably also your only investment that is filled with both your treasured possessions and your loved ones.

With tornados frequently lashing the American coastline and severe climate changes making wildfires more prevalent than ever, can you really afford not to invest in homeowner’s insurance? A meagre monthly payment now may be the only thing keeping you and your family from homelessness later, should disaster strike. Read on to learn more about why you need homeowners insurance in Florida.

Here are six reasons to invest in Florida Homeowners Insurance today:

1) Severe weather conditions

According to the NAIC (National Association of Insurance Commissioners) President, a recent survey found that an estimated 80% of the nation has experienced violent weather events over the past six years. In 2011, weather related disasters incurred a damage bill in excess of $43 billion. Whether or not you live in an area prone to hurricanes or other natural disasters, it’s important to be prepared.  If you have an existing homeowner’s insurance policy, make sure you’re aware of what it does and doesn’t cover. According to https://floridainsurancequotes.net/home-insurance/hurricane-insurance-florida/ hurricane insurance in Florida is really important.

2) Liability

Believe it or not, you’re responsible for accidents or loss of property that occur on your property, whether you’re present or not. Imagine your teenage daughter has friends over while you’re out of town. One of those friends has been drinking and falls over, cracking her head on the stairs. Her wound requires a trip the emergency room and a number of stitches. More than likely, you’ll be expected to foot the medical bill. The same applies if your mail man slips on your front step or your gardener trips over the hose.

Some liability policies go a step further and protect you against accidents that occur outside of your property. For example, if your child accidentally breaks a window at school while playing tennis. Consult your potential FL insurer to find out how comprehensive your policy is and what type of policy would best suit the requirements of your family.

3) Theft

There are few things more frightening than home invasion. One of those things is realising that none of your most valuable possessions are insured. Don’t let this happen to your family! Move on from the trauma of being robbed more quickly by ensuring that your property and possessions are insured.

A word to the wise: in case of burglary or other sustained damages, make sure that you have an up to date home inventory to show your insurers. More than half of insured Americans don’t have an inventory of their possessions. Why? This time consuming process involves photographing your valuables, making a detailed list of them and keeping their receipts in a safe spot. Doing this now may seem tedious but it will save you a world of time and heart ache later.

4) Loss of Use

Suppose the unthinkable happens and severe weather damages (think falling trees or roof damage) your house to the point that you must seek temporary accommodation. A good, standard homeowner’s insurance policy will pay your relocation costs. This means reimbursing you for a hotel stay, meals, and other related expenses until you’re back in your own home. Generally speaking, you can expect your insurance company to pay up to 20% of your coverage price for this. For example, if your house is insured for $100, 000, you will be entitled to approximately $20,000 in loss of use funds.

5) Satisfy mortgage lender conditions

If you’re paying off a mortgage, your mortgage lender may insist that you have homeowner’s insurance. Why? So they can guarantee the safety of their assets. If you do not have your own homeowner’s insurance policy, your lender may insist you settle for forced coverage policy. Do not do this. Not only are these policies incredibly expensive, but they also only cover losses to your mortgage company, without protecting you or your family from hardships.

6) Peace of mind

If the expression “your home is your castle” is true, not investing in home insurance is rather a lot like lowering the drawbridge for all your enemies to storm in. Most hard-working Americans have spent years paying off their houses with demanding 9-to-5 jobs. They deserve to enjoy the fruits of their labors with peace of mind. Home owner’s insurance can provide that, and let you focus on things that really matter, such as your health and your family.

Remember, your home is the largest and most important investment you have. These six reasons you need Florida homeowners insurance from here is just the tip of the iceberg. Don’t put yourself and your family at risk for even a day longer. Talk to a trusted local insurance company today for complete peace of mind.