The more you know about homeowner’s insurance and how it works, the better off you’ll be in the event your home suffers damage. If you’re considering homeowner’s insurance, there are a couple of things you should know so that you have a greater understanding and are better able to deal with your insurance company.
For starters, you should know that you are not required to even have a homeowner’s insurance policy in the state of Florida. However, there are scenarios where this will change. For example, if you currently have a mortgage loan on your home, then your lender can legally require you to have insurance on your home. They may also specify the minimum amount of coverage you’ll need to have. Hence, while Florida doesn’t obligate homeowners to have insurance, most people are likely to have it anyway. Plus, with Florida’s propensity for being hurricane prone, it’s a good idea to have some peace of mind.
When you’re evaluating insurance policies, they should include the following terms or something similar: structure, personal property, loss of use, and other structures. You may also wish to consider flood insurance but it may not be required depending on whether or not you’re in a zone FEMA has deemed at risk of flood.
Beyond the minimum requirements, you may also wish to consider any add-ons to your insurance, especially if you have lots of personal property that’s considered to be of high value. Liability coverage is also important to take into account as it will cover you should someone be injured while on your property.
This information is provided by Miami insurance lawyer Alonso & Perez, LLP. Our areas of practice include bankruptcy, insurance litigation, foreclosure defense, immigration law, and more. Call 305-676-7545 to speak with one of our attorneys or a property insurance disputes Miami lawyer and receive a free consultation We look forward to working with you.
This information is provided for educational or informational purposes only and should not be construed as legal advice. The information is not provided in the course of an attorney-client relationship and is not intended to substitute for legal advice.