Florida homeowners insurance is designed to protect you from the financial loss you would incur if your property is damaged. Your property is vulnerable to extreme weather, be it hail or windstorm, fire and water damage. The latter does not include flooding in most cases. Your property is also vulnerable to theft, damage during riots or explosion and other serious events that are beyond your control. When you get a homeowners insurance quote in Florida, it would primarily be about two distinct categories. One category is the immovable property, which is your home including all the permanent constructions and installations. The other category is the movable property, all portable assets that you own.
You must look for a Florida homeowners insurance quote that provides coverage for both immovable and movable property. Most homes have tens of thousands of dollars worth of appliances, jewelry, consumer electronics, furniture and various other movable but valuable assets. It is futile to protect only the physical structure of your property when all the contents in your home remain uncovered. It is true that comprehensive coverage will increase the cost in your FL homeowners insurance quote but that is what the quintessential need is.
What happens when things go wrong?
There is another significant aspect about homeowners insurance in FL that you should delve into. It is the way you get repaid or compensated for a specific loss. A typical home insurance policy will provide you an actual cash value for an asset or item that may have been damaged or lost. It may also provide a replacement for the same. For instance, if you have a damaged roof, then you may get the roof replaced or get the value as per the coverage in cash and plan your subsequent steps accordingly. Regardless of what the insurer may prefer and what your personal preference may be, you should always opt for optimum coverage that will be sufficient to replace the lost or damaged item. On a broader scale, ask yourself how much money you would need to rebuild your home or a major portion of it in case it is damaged. Accordingly you must opt for a Florida homeowners insurance quote.
Do not opt for the market value of your home, an asset or the cost of replacement of any fixture or structure. You should opt for the actual cash value. Market values may be more or less than what you would actually need to replace the damaged or lost fixture or item. Many insurers recommend a policy that offers enough coverage to pay for the mortgage. This is futile as the actual cost of remedying a problem or rebuilding the home may be substantially greater.