Helpful Strategies When Looking For The Best Homeowner’s Insurance Coverage In Florida

Shopping online for Florida homeowner’s insurance can be worrying, especially if you don’t know anything about it. If it’s your first time to get a new home, searching for the right insurance option is necessary.  You have to know exactly what your policy is and what it covers. Here are ten helpful strategies in finding the best coverage for your Florida homeowner’s insurance.

1.  Get bundling policies

If you have both home and car assets, savings will come to you if you move your two policies into a single insurance company.  Begin by calling up the insurance company where you insured your home and your car.  Then inquire if they have an option in getting discount for bundling policies.

When a bundling discount is offered, get quotes from each company then select the best coverage that provides the right price. Liability limits and coverage must be similar for each quote so that you can compare apples to apples.

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2.  Know what is covered

Typically, homeowner’s insurance has the main dwelling including the other structures in the home—for instance sheds, garages, and others.  Your insurance policy must also cover your home’s content and must give security against liability if there is an occurrence of injury.

3.  See the liability limits

Although your homeowner’s insurance has already the liability coverage, it isn’t enough to give protection to you and to your assets.  If the liability coverage is not enough and you were sued by a person, you may have out-of-your-pocket costs.

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Vital Factors that Have Impact on Your Homeowners’ Insurance Policy Discounts & Details

Your home insurance provider uses different factors in identifying the right amount of premium you need to pay. The greater details you can give to them, the better way the insurance company can customize your premium as a good fit for your home’s needs.

When accomplishing a homeowners’ insurance application form, there are things that may cause you to think about something.  You might wonder, “Why does the insurance provider ask for this information?”  There are questions they ask that you may think not related or unimportant to you.  However, your answers to their questions can influence the insurance premium that will be charged to you by Florida homeowners’ insurance provider.  Your answers will be the determining factors whether the insurance company will approve your insurance application or not.

What is the shape of your roof and its type?

Roof has a great impact on your homeowners’ insurance premium.  Although roofs provide safety for the home, various roof shapes aren’t created equal.  Homes in Florida have three popular roof shape types: gable, flat and hip.  All these types have their individual distinct level of performance, especially during a storm.

Vital Factors that Have Impact on Your Insurance Policy Discounts & Details

1.  Gable roofs – these roofs are not costly to install and they are easier to build.  Gable roofs are also very common among Florida homes.  The shape is triangular gable end and is vulnerable to get damaged by hurricane winds if not appropriately supported.

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Simple Guide for Homeowners Insurance

Homeowners insurance is a special type of insurance designed to give protection to homeowners against damages and losses that result from perils like burglary, storms or fire. Legal costs are also covered if a third party gets injured inside your property or home. In an average homeowners insurance policy, flood or earthquake coverage is not part of it; however, this specific coverage can still be added to your policy.

Homeowners insurance is almost required before you can avail for the home loan approval.  Before the mortgage enterprise signs off for your loan application, your lender will require you to buy homeowners insurance first. Even if you don’t have your mortgage, it’s still a good idea to purchase homeowners insurance because this is the best way to secure your investment.

Every year, you must review your insurance coverage to see if it meets your specific needs.  You can do it through your homeowners insurance provider. Keep in mind that you can include other coverage to your existing insurance policy to increase your level of protection.

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Choose Homeowner’s Insurance Policy that Meets the Coverage You Need

In Florida, buying homeowner’s insurance requires you to be well-informed to make sure you get the right coverage you need.  There are many mortgage companies that buy insurance on behalf of their clients and then roll the insurance cost to mortgage fees.  If you are sure that your homeowner’s insurance meets your needs, then you have all the conveniences you get and you avoid buying another insurance policy in the future.

It is advisable that you analyze carefully your insurance for the right policy you need.  If not, you might be paying for a policy you can’t even benefit from.  Most policyholders understand only that they have their policy—but later on discovered that the coverage they expect is insufficient for their needs.

It’s important to know why people can’t deal well with their insurance policies when offered to them.  It’s a fact that various policies are not easy to understand, particularly when offered to a non-agent or non-lawyer person. In case like this, it’s the best idea to take the policy and consult it to a trusted agent.  Allow the agent to review your policy and give you honest explanations about what is stated on it.  Figure out if there’s something to expect in case of catastrophic occurrence which ruins your house resulting to a major damage.

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Thanksgiving Day Travel – How to Avoid Insurance Claims During The Holiday

Thanksgiving Day is just around the corner and by now many of you are either preparing your car for a Thanksgiving Day travel or thawing your turkey.  Thanksgiving holiday is a busy time for the insurance industry, too, because of the two major reasons: cooking fires and travel.  But, it doesn’t have to be like this.  Take time today to review your homeowners and auto insurance policies for you to be more prepared this holiday.

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Everything Homeowners Should Know About Sinkhole Insurance

Florida has more occurrences of sinkhole activities than any other states.  With Florida Statute 627.706, it requires each insurance company (that provides property insurance) to also offer coverage on catastrophic ground cover collapse. Nevertheless, sinkhole damage may not be included in your homeowner’s policy because the law describes this damage as something different from catastrophic ground cover collapse.

According to Florida law, a sinkhole refers to the landform made by soil subsidence, residue or underlying rock layer dissolved by the groundwater. This sinkhole can be a result of a collapse in subterranean voids formed by limestone dissolution, subsidence or dolostone when these strata begun to dissolve.

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Citizen’s Rate Increase: Florida Approves 6.3% Homeowner’s Increase

In the state of Florida, homeowners looking for coverage through state-backed home insurance provider are expected to have their rates raised by 3.6%.  This is based on the state regulators decision for a nation-wide average increase.

With that, homeowners who pay for the multi-peril premiums will expect a 4.4% increase (or approximately $111 for each policy). This is part of the usual hike as this increase will take effect in 2016 January. On the other hand, those with wind-only insurance policies can see a 10.5% average increase (or approximately $265 for each policy), as their rates take effect on February 1st.

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What is Homeowners Insurance

Homeowners insurance refers to an insurance policy which provides financial protection in the event your home or property gets damaged caused by a covered peril or in the event of a covered legal action.

Typically, perils which are covered by home insurance include wind, fire, hail, theft and lightning.  Although nobody wants to lose possessions or a home due to these perils, this occurrence can happen anytime and unexpectedly.  Therefore, if your home is destroyed by fire, what are you going to do to rebuild it?   This is the right time homeowners insurance comes to your help.

Homeowners insurance is a security for your home investment.  It gives you the right coverage for particular hazards your home may encounter in the future.

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Florida Homeowner’s Insurance FAQ’s

1.   WHAT IS THE DIFFERENCE BETWEEN HOME INSURANCE AND DWELLING INSURANCE?

Dwelling insurance is commonly used to insure only the structure, or ‘dwelling’. This coverage is primarily used with properties that are considered a second home or investment property.  Homeowners insurance provides dwelling coverage, but also includes, as standard coverage, personal property and personal liability protection.

2.   IF I OWN A HOME, AM I REQUIRED TO GET HOMEOWNERS INSURANCE?

The simple answer to this question is… it depends.  Homeowners insurance offers you protection from many of the risks you have as a homeowner.  If someone were to injure themselves or if damage was caused to your property you could be held liable for those damages. If your home and all its contents were destroyed by fire or even stolen, you might not be able to afford to replace the entire contents of your home.  Many homeowners still have mortgage payments and mortgage companies will require the homeowner to obtain and keep a homeowners policy.

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Tropical Storm Targets South Florida

 

System aiming at South Florida becomes Tropical Depression 16; could be Tropical Storm Nicole in hours

by Eliot Kleinberg

The system on a collision course with Florida, arriving as early as this afternoon, became Tropical Depression 16 at 11 a.m. today. At 2 p.m., top sustained winds were near 35 mph, just below tropical storm strength, and the system is expected to become Tropical Storm Nicole later  this afternoon. But the official forecast calls for a 60 percent chance that Palm Beach County never will see tropical storm force winds. And the National Weather Service’s Miami office says there’s a “very low” chance. It says top sustained winds in Palm Beach County will be in the 25 mph to 35 mph range, with gusts up to 45 mph, although it said stronger winds still are possible depending on the system’s path. 

mflwindthreat_smA tropical storm warning is in place from Jupiter Inlet south to the Keys and a tropical storm watch north to Sebastian Inlet as well as for southwest Florida.

Also, a flood watch is set to be posted at 4 p.m. today and run through 2 p.m. Wednesday for Palm Beach County and points south. While heavy rains should start tonight, it’s most likely tropical storm force winds won’t affect Palm Beach County until Wednesday, if ever, the National Weather Service’s Robert Molleda said this morning. As much as 8 inches of rain could fall on South Florida, with the heaviest rains expected south and southeast of Lake Okeechobee, according to water managers at the South Florida Water Management District. They said Broward and Miami-Dade counties likely will see more rain than Palm Beach County. 

The heaviest rains are expected late this afternoon and tonight and then overnight, with a good chance they’ll make Wednesday morning’s commute an unpleasant one. The center of the system was expected to near southeastern Florida by Wednesday afternoon and east of Boynton Beach around 8 p.m. Wednesday. The system should be gone by Thursday morning. National Weather Service forecaster Brad Diehl said. At  2 p.m., the depression’s center was about 370 miles south-southwest of Miami. It was moving north-northeast at 10 mph. 

There's less than a 40 percent chance of tropical storm force winds for PB County There’s a 40 percent chance of tropical storm force winds for PB County 

145212w_sm1With the strongest winds east and south of the system’s center, if it stays right at or near the coast, tropical storm force winds would stay off shore, Molleda – warning coordination meteorologist at the weather service’s Miami office – said this morning. “Since it’s such a disproportionate distribution of wind and rain, if the system tracks offshore, even if it’s by a few miles, that’s the different between getting tropical storm force winds and not getting any at all,” he said. If the storm stays off shore, that also could reduce the projected deluge, Molleda said. But with the storm so close, and its status changing nearly hourly, “we’re walking a big of a tightrope,” he said. 

Assistant Palm Beach County administrator Vince Bonvento said the county does not expect to go into full storm mode but is watching the storm’s progress. He said the county’s final budget meeting still is set to go on at 6 p.m. Palm Beach Schools officials said at midday they’ll decide later today whether the storm will affect schools on Wednesday. The system is forecast to dissolve into a front on Thursday. Post staff writers Christine Stapleton and Jennifer Sorentrue  contributed to this report. 

Four to six inches of rain could fall on Palm Beach County

by Eliot Kleinberg

Four to six inches of rain, perhaps more in spots, could fall across Palm Beach County and the Treasure Coast from Tuesday afternoon to late Wednesday as a result of a weather system now in the Caribbean, the National Weather Service said today.

The atmosphere is loaded with water at historic levels, and rain bands could drop 2 to 4 inches over an area in as many hours, meteorologist Dan Gregoria said today from the weather service’s Miami office.

The heaviest rain will be from Tuesday night through Wednesday afternoon.

A flood watch might be issued early Wednesday for coastal urban areas.

Rainfall could be a little less pronounced along the Treasure Coast, but the threat also extends inland over Lake Okeechobee and west to the Gulf of Mexico, Gregoria said.

“We are concerned about heavy rain in a short time,” he said.

And it might not be the end. One to two more waves of saturated atmosphere might move through later in the week.

Thunder and lightning will be isolated, there’s a minimal tornado threat, and whether strong winds accompany the deluge will depend on whether the system develops tropical characteristics before moving over the peninsula, Gregoria said.

The National Hurricane Center’s 2 p.m. tropical weather outlook upped to 40 percent the chance the storm will do just that, and become a tropical depression or Tropical Storm Nicole, by Wednesday afternoon.

A National Science Foundation jet that flew into the system found it did not yet have a well-defined center of circulation, but conditions are favorable for more development, the outlook said.

The outlook mentioned two other systems way out in the Atlantic, but chances were low either will develop into anything in the next 48 hours.

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This entry was posted on Monday, September 27th, 2010 at 2:12 pm and is filed under 2010 season storms, Developing storms, Nicole, Season forecasts, South Florida weather. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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