If you own a home, a Florida insurance homeowner’s policy is an absolute necessity to have in place. Why? Without one, any costs to repair or reconstruct your home in the event of a loss will come out of your pocket. Another perk of a homeowner’s insurance policy is that it covers any of your personal property that is damaged as well.
As a Florida resident, you are legally required to have a homeowners insurance policy if you are not the absolute owner of your home, meaning if you have a mortgage. Even when you are the outright owner, it is crucial to have a homeowners insurance policy. If you do not wish to have a full homeowners insurance policy, you can have what is called a Dwelling Liability Policy for a minimal cost.
Some swimming pool owners, as well as owners of certain pets and specific dog breeds, are required to have a liability policy in case someone is injured by any of these things.
If you are in the dark about what homeowners coverage entails, we will explain the basic components of this significant type of insurance:
Keep in mind that should your home have damage as a result of a flood, this is NOT covered in your homeowner’s insurance policy, which is why we strongly recommend flood insurance coverage regardless of if you live inside or outside of a zone that is prone to flooding.