Home Insurance - E Policy Review

Epolicyreview.com can assist you on your new home purchase or review your existing policy.

Getting home insurance can be confusing and daunting endeavor. Especially in the state of Florida, a high catastrophe state surrounded by water, hurricanes and currently embattled with a wave of litigation & constant state changes. Home insurance premiums are on the rise.

Florida Homeowners Insurance Policy

These policies are offered by a wide range of insurance companies, as different homeowners insurance companies cater to different home types and geographic locations.

Florida home insurance policies provide coverage for six sections of insurance coverage. A typical home policy form is broken down into the following six primary coverage sections.

Florida Homeowners Insurance Coverage Sections

Coverage A: Dwelling Coverage

Coverage A. This is your dwelling coverage and provides coverage for the actual home itself. Mortgage lenders require homes are insured at a minimum to their replacement cost

Coverage B: Other Structures

This second section provides coverage for other structures on your property. Examples of these structures are fences, sheds, and detached garages.

Coverage C: Personal Property

This line of coverages provides for protection of your personal belongings. This can be described as what would fall out of your home if it was turned upside down and shaken.

Think things like furniture, electronics, toys, clothes and tools.

This coverage has 2 coverage forms. Actual cash value or replacement cost.

Coverage D: Loss of Use

reimbursement for additional living expenses if a covered peril does damage your home to an extent requiring you to temporarily move out of it. This may be applied to a hotel or rental home in such a situation.

Coverage E: Liability Coverage

This coverage provides for medical bills and legal fees if someone happens to be injured on your property or in the case you are found liable, ie your dog bites someone. If you happen to have a pool or trampoline, you may want to consider increasing your liability coverage for peace of mind.

Coverage F: Medical Payments Coverage

This section covers against payments for minor medical bills to those injured on your property. It is important to know that this applies regardless if the injury was your fault or not. The typical coverage amount is $5,000 per claim.‍

Homeowners Insurance Policy Types

Covered Perils

Lightning
Fire and Smoke
Fire and Smoke
Explosion
Vandalism and Malicious Mischief
Damage from Car, Vehicle or Aircraft
Theft
Falling Objects
Weight of Ice, Snow, or Sleet
Water Damage

frequently asked questions

Am I required to have home insurance?

It is your mortgage provider that will require homeowners insurance.

Typical exclusions include things like earthquakes, sinkholes, nuclear war and floods. Flood insurance needs to be purchased separately through the national flood insurance program.

Are Floods Covered

NO!!! Your home insurance policy does no cover flood damage.

The entire state of Florida is in a flood zone, what zone is your home in?

Definition of a Flood- A general & temporary condition of partial or complete inundation of two or more acres of normally dry land area at two or more properties. (At Least one of which is your property)

Your lender may make it mandatory on your loan if your home is located in certain flood zones.

Why is the annual premium for my home insurance so high?

Location, age of home, wind mitigation features, claims history & YOU.

What discounts are available?

Current Wind mitigation & 4-point inspections. Think of it as your roof & house’s report card.

Wind Mitigation provide the biggest discount

homes built prior to the 2001 Building Codes; the discounts are based on the following:

Roof Covering

Roof Deck Attachment

Roof Shape

Secondary Water Resistance

For homes built in compliance with the 2001 building code or later, the discounts are based on the following:

Roof Shape- Hip

Shutters- intermediate Type & Hurricane Protection Type

4-point inspection assures the house is in good order & being well maintained. These reports look at your electric panel, plumbing, ac unit, & water heater.

Florida home insurance in today’s market will not offer coverage until they review these documents first. A certified & licensed home inspector performs these services. We can schedule these services for you with our trusted providers across the state.

Other discounts may include like hurricane proof windows, hurricane shutters, gated community, fire & burglar alarm.