Get A Homeowners Insurance Quote*Available in Florida Only
As a Florida Independent Agency, We offer coverage in Florida through multiple companies.
Private market flood through Lloyd’s of London is also available on selected risks.
Single Family, Condos, Mobile Homes.
Brief Explanations of Coverages
Dwelling Coverage – This coverage is specifically for the building itself (walls, roof, windows, etc.), as well as any interior structures that are ‘attached’ to the home (flooring, cabinets, countertops, bathtubs, etc.), and should be at Replacement Cost. Many companies include the pool and screened enclosure as part of this coverage, but some categorize the pool and screen enclosure under Coverage B-Other Structures. Check your policy to ensure coverage is adequate.
Other Structures – Usually set at 2% of the dwelling, but can be increased if needed. This coverage is for anything detached from the home. (fencing, mailbox, sheds or other out buildings, etc.) Some companies include pool and screen enclosures in this coverage, which would require an increase from the normal 2% for proper coverage. Check your policy to ensure coverage is adequate.
Personal Property – Sometimes referred to as ‘Contents Coverage’. Your personal belongings. Clothes, dishes, furniture, etc. Usually includes items that you would remove from the home if you were to move out of the home. Most companies allow the choice of covering your personal property at Actual Cash Value (ACV) or Replacement Cost value (RC). Normally set at 50% of the dwelling.
Loss of Use – This coverage is for reimbursement of additional living expenses incurred due to damage or destruction of property, whereas occupants are not able to ‘use’ the home for normal uses until the repairs are complete. Typically for hotel, additional food costs, etc.
Liability – Coverage to protect against claims alleging that you were negligent or inappropriate which resulted in bodily injury or property damage to others.
Medical – Intended for use for minor injuries when a welcomed guest is injured on your property, regardless of who is at fault. This coverage does not apply to household members.
Ordinance or Law – Covers extra expenses of rebuilding to comply with ordinances or laws, often building codes, that did not exist when the building was originally built. It pays not only for rebuilding a destroyed home but also upgrading the home so that it will meet the current building codes. Some companies have this coverage included in the policy; some companies require the agency to add it as an endorsed coverage. Normal options for this coverage are set at 10% of the dwelling amount, or up to 25% of the dwelling amount.
Water Back Up & Sump Overflow Coverage – This coverage is an ‘Endorsed’ coverage, meaning it can be added or removed from the policy. Water and Sump Backup covers drains, discharges, sump pumps, and toilets. Basically any place where excess water can “backup” into your home causing damage to the home as well as your personal property. If this coverage is NOT listed on your quote or policy, there is no coverage.
Water Damage Coverage – A type of protection included in most policies against sudden and accidental water damage that is caused by direct damage from rain or leakage of plumbing. Water damage insurance does not cover damage resulting from homeowner’s negligence or failure to maintain home repairs. This is NOT flood insurance, and does not cover for floods. Some companies exclude this coverage for older homes, and may allow an endorsement to purchase a limited amount for the policy.
Loss Assessment Coverage – This coverage helps insure common areas of properties (community pools, playground areas, clubhouse etc.) that are collectively owned by members of a homeowners association (or condo association), allowing for shared financial responsibilities that might result in a claim for liability or property damage. Most policies will include this coverage whether the home/condo is connected with an HOA or not, and is usually not able to be removed.
Sinkhole Loss Coverage – This term is defined as coverage for ‘structural damage’ to the covered building, including the foundation, caused by ‘sinkhole activity’ (see definition below). This coverage is usually NOT included, and can be very difficult to have added onto the policy. An additional, non-refundable inspection, paid by the homeowner is required before the coverage can be added. If the property has any type of normal settlement cracking, interior or exterior, the coverage will most likely be denied. Being denied after a sinkhole loss inspection could affect future coverage and/or policies.
Sinkhole Activity – The settlement or systematic weakening of the earth supporting the covered building only if these such results are caused from movement or raveling of soils, sediments or rock materials into subterranean voids created by the effect of water on the limestone or similar rock formation.
Catastrophic Ground Collapse Coverage – Insurance companies are required by law to provide this coverage, and IS AUTOMATICALLY INCLUDED IN ALL POLICIES. There are four conditions that are required to be met before loss is considered to be from CGCC. All four must apply: 1) An abrupt collapse of the ground cover; 2) A depression in the ground cover clearly visible to the naked eye; 3) Structural damage to the building including the foundation; AND 4) The structure is ordered vacated and labeled condemned by a government agency authorized to issue condemnation orders. (Basically, if the ground opens up and the house falls in, and is no longer able to be lived in)
Frequently Asked Questions
How does the insurance company come up with the amount of dwelling coverage on the policy?
Each insurance company requires that the agency completes a ‘Replacement Cost Estimate’ or an ‘RCE’ for any home that could become an active policy. The specifics regarding each home, the year built, block or frame built, type of roof, square footage, porch info, etc. is entered into their system. The final figure is the amount that the insurance company believes it would cost them to rebuild the home from ground up if there was a total loss. Unfortunately, insurance companies don’t look at what amount the home was purchased for, appraised at, or how much the mortgage or loan amount is.
What’s the difference between RC and ACV coverage for my contents (personal property)?
RC, or Replacement Cost coverage, is the amount it would cost to replace an item that was damaged or stolen.
ACV, or Actual Cash Value coverage, subtracts depreciation of that item due to age, wear and tear. (ACV= Replacement Cost – Depreciation)
Example: You purchased a brand new TV for $3,000 four years ago. The TV is stolen. If you have replacement cost coverage for contents on your policy, the insurance company will reimburse you for the cost of a new TV up to $3,000. If you carry actual cash value coverage on your contents, the insurance company will reimburse you $1,200 for the TV, for what it was worth at the time it was stolen, not the amount you purchased it for.
What is Loss of Use Coverage?
This coverage is for reimbursement of additional living expenses incurred due to damage or destruction of property, whereas occupants are not able to ‘use’ the home for normal uses until the repairs are complete. Typically for hotel, additional food costs, etc.
What is a Wind Mitigation Inspection?
A wind mitigation is an inspection that is done to verify how the roof is attached to the home. This inspection can decrease the premium on an insurance policy, depending on the credits your roof qualifies for. If the roof is 2002 or newer, there would be an automatic Florida Building Code credit, as well as some possible additional credits, depending on the nail size, nail spacing, and clips or wraps used, etc.
A certified inspector would fill out the required 4-page state form, as well as take photos in the attic documenting the credits. This form would be emailed to the agency, and the appropriate credits would be applied to revise the premium. The inspection report would also be submitted to the insurance company as proof of each credit. Roofs older than 2002 can still qualify for some of the credits as well, just not the 2002 FBC credit mentioned above.
What is Water Backup & Sump Overflow Coverage?
This coverage is an ‘Endorsed’ coverage, meaning it can be added or removed from the policy. Water and Sump Backup covers drains, discharges, sump pumps, and toilets. Basically any place where excess water can “backup” into your home causing damage to the home as well as your personal property. If this coverage is NOT listed on your quote or policy, there is no coverage.