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Homeowners Insurance in Florida

A Florida homeowners insurance policy protects your home from damage, theft, storms and other disasters. Home and property insurance can also provide coverage in the event that someone is injured on your property. Homeowners insurance companies in Florida offer a variety of different plans that can cover your home, apartment or other types of property you own or live in. A homeowner insurance policy can often be added to another type of insurance policy if you already work with an insurance company for other needs. The easiest way to get cheap homeowners insurance is to compare plans from multiple different providers. It is wise to compare homeowners quotes from other companies even if you already have a different type of insurance policy with a company. For more information on getting homeowners insurance coverage in Florida that will meet your home insurance requirements, continue reading the sections below.

Florida Homeowners Insurance Requirements

In Florida, having insurance for your home is optional in some cases, as homeowners insurance is not required by law. However, if you rent an apartment or have a mortgage on your house, then your landlord or lender will most likely require you to carry insurance. You will likely hear homeowner’s insurance referred to as renters insurance if you live in an apartment, condo or other dwelling that you do not own. Home and property coverage in Florida is essentially the same regardless of whether you rent or own your property. However, the amount of homeowners coverage you are required to have may vary based on whether you rent or own. If you are unsure, then your landlord or lending agency will tell you the minimum amount of insurance you must carry on your property.

Types of Florida Home Insurance

A standard homeowners insurance policy in Florida provides several different forms of coverage. You can choose a policy that provides home insurance coverage such as:

  • The physical structure of your home or dwelling.
  • Other buildings on your property.
  • Property inside your home, such as valuables, furniture and personal possessions.
  • Living expenses in the event your home becomes too damaged to live in.
  • Personal liability, which can cover you, your family and people who visit your home.
  • Medical payments for anyone who is injured on your property.

Florida home insurance policies do not always cover specific types of damage, such as flood or hurricane damage. Your homeowners insurance policy will clearly state the types of damage and other incidents that are covered. If you want additional coverage for specific types of incidents, then you can usually add more options to your policy.

Benefits of Having Homeowners Insurance Coverage in Florida

Because homeowners insurance is not always mandatory in Florida, you may be wondering why you should get a policy. Having property insurance in FL comes with many benefits. Most of all, you will not have to pay for the full cost to repair your home if unforeseen incidents occur. Additionally, if you purchase a home and property insurance policy that includes injury coverage, you may avoid lawsuits if anyone is injured at your house, as having to pay large repair costs or medical costs out-of-pocket could affect you for years. While FL homeowners insurance does not cover every expense, your policy will protect you from most expenses.

How to Compare Florida Homeowners Insurance Quotes and Rates

Florida home and property insurance rates vary greatly from one home to the next. Many factors influence homeowners insurance costs, which is why you must obtain quotes when shopping for a policy. First, your insurance rates will depend on information about you, such as your age, gender, marital status and credit history. FL home insurance rates also depend on factors such as the construction of your home, how old your home is, whether you have certain breeds of dogs, how close you live to emergency facilities and the value of your home.

When comparing homeowners insurance quotes in Florida, you will want to consider what types of coverage you need. Home and property coverage is more expensive if you want your policy to include more benefits. Looking at quotes will also help you choose a plan with the best terms. For example, choosing an FL homeowners insurance plan with a higher deductible will result in a lower premium. If you currently have a different type of insurance, such as car insurance, then your current provider may offer a discount if you add a policy to your existing coverage. However, finding the most affordable homeowners insurance in Florida may require you to shop around and compare quotes from other providers.