Make Sure Your Homeowner’s Insurance Meets Your Needs

homeowner's insurance

Purchasing homeowner’s insurance in Florida is something that requires you to be extremely proactive in order to ensure you have the coverage that you really need. Unfortunately, some mortgage companies have a tendency to purchase insurance on the customer’s behalf and then roll the cost of the insurance into the mortgage payment. This is great for a matter of convenience and it eliminates the need for you as the mortgage owner to deal with purchasing a separate insurance policy. However, you would be well advised to carefully review your insurance policy with an insurance agent in order to guarantee the policy provides the coverage you really want and need. Otherwise, you may find your policy does not include all types of coverage or the coverage is inadequate. As we all know you probably won’t find out you’re not covered until damage has already occurred and you need your insurance policy to come through, only to find out you will not be getting the funds that you need.

It is easy to understand why many people simply do not want to deal with insurance policies. Some of these policies are extremely difficult to understand, especially for someone that is not either a trained insurance agent or a trained lawyer. In cases such as these, again, it would be a great idea to take your existing policy to an insurance agent that you trust. Have the agent look over the policy and provide you honest feedback regarding what you can expect in the event something catastrophic happens that either causes significant damage and/or destroys your home.

You may even make the decision to take your current policy to more than one insurance agent so you can compare notes and get a more educated overview of where you stand on your homeowner’s insurance. When dealing with insurance agencies in the State of Florida, go to an agency that will compare policies for you saving you time and potential frustration. Specifically, there are a few things that you need to look out for, especially if you do not intend on sitting down with someone working out a policy. First, it is a great practice to update your policy on a fairly regular basis. The amount of insurance coverage you need for your home will change if the value of the home appreciates or depreciates or if you add a structure to the property or you renovate your home. In addition, you want to be sure you have enough coverage on your homeowner’s policy to cover more than just the structure alone. You want to be able to have a big enough policy to cover personal property, especially when this property can be very expensive.

When you are looking over your policy, it is very important to realize that regular homeowner’s insurance does not cover every instance where your home may be significantly damaged. For example in Palm Beach County, if your home is flooded and you have not purchased a separate flood insurance policy, your regular homeowner’s insurance policy will not cover a single dime of the damage associated with the flood. In addition, homeowners must purchase separate earthquake insurance if they want their home to be covered in the event that an earthquake occurs. This type of insurance is somewhat different than other types of insurance for the home, and the amount of money that is required to pay a policy premium is typically based on the overall value of the home itself. The homeowner then must typically pay somewhere between 5% to 10% of the overall value that was assessed to the home each year in order to keep the policy current.

In addition, it is important to look out for situations where you think you will be covered, yet in reality, there may be gaps in your policy’s coverage. Some policies will cover wind damage, yet they will only cover wind damage when it is strictly due to a wind event. Therefore, you may not be covered because of the tree that fell onto your home or if the high winds were incurred as a direct result of a tornado. These are important questions to ask your insurance agent. Make sure that you are getting concrete answers to all of your questions before you do anything when it comes to purchasing a new policy. It’s always recommended having a wind mitigation survey completed to ensure you have the proper coverage and are taking advantage of all the credits you qualify to receive.


By following these simple guidelines, you can save yourself a great deal of heartache in the future. The last thing you want to do is wait until after something has happened and you are counting on your homeowner’s, flood, or wind policy to cover the damage. Then find out you are not getting a settlement from the insurance company or that the settlement you will be receiving is significantly less than you originally understood.

Homeowner’s insurance is vitally important as your home is your largest asset or liability you are insuring. Having the proper insurance coverage is essentially what will allow you to have the necessary funds to either repair or rebuild your home. Therefore, you cannot afford to avoid finding out the details regarding your homeowner’s insurance policy.

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A Blog offering Tips and helpful navigation to better Insurance coverage in the State of Florida

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