If you are considering a homeowner insurance policy, they are mostly similar but some may be deficient in protecting your home. The basic HO-3 form in Florida, which is the basis of a homeowner policy, can be changed by endorsement and limitations. These endorsements and limitations are what the consumer should be wary of. Let’s have a look at a typical Florida homeowner insurance policy and the coverage it provides. Our residential property public adjusters can help you if you have to file a claim. We fight for your rights against insurance companies. We are based in Weston Florida and service homeowners throughout Broward County from Fort Lauderdale to Plantation, Pembroke Pines to Southwest Ranches and everywhere in between.
A homeowner policy will pay for damages resulting from a fire subject to the deductible. Sub limits can apply. For example, if the homeowner has a $10,000 baseball card collection or maybe a $50,000 art collection, the policy will only cover a few thousand dollars in each category unless the homeowner scheduled the collections on the policy. This is considered to be the responsibility of the agent to ask these questions. However, a homeowner needs to take some responsibility when purchasing a policy.
A homeowner policy will pay for damages resulting from a fire subject to the deductible. Sub limits can apply. For example, if the homeowner has a $10,000 baseball card collection or maybe a $50,000 art collection, the policy will only cover a few thousand dollars in each category unless the homeowner scheduled the collections on the policy. This is considered to be the responsibility of the agent to ask these questions however, a homeowner needs to take some responsibility when purchasing a policy.
Most homeowner policies will provide coverage for burglary but not all provide coverage for theft. What’s the difference? With a burglary, there is physical evidence of a forced entry. With theft there is not. So then, if someone breaks into your garage and steals your $600 10 speed racing bike, that’s a burglary. If it is stolen off of your front porch, that’s a theft. Make sure your policy covers both.
This is usually the result of a sewer pipe failing (the city probably owns the pipe) and backing water and other filth into your home. With most policies this must be added by endorsement so be sure and inquire about this valuable coverage.
Florida policies now provide coverage for “catastrophic ground collapse”. Sinkhole coverage must be endorsed as an additional coverage. Many companies will only offer the sinkhole coverage with a 10% deductible and may even require the homeowner to pay for a geological survey.
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Our licensed public adjusters can provide you with a FREE insurance policy evaluation, on site inspection and estimate for your property loss. We have the skills to get you indemnified and we will be on your side in case of future loss or damages.