Why do you need Homeowners Insurance?

Homeowners insurance is a contract between you and an insurance carrier. In exchange for an annual premium, the carrier agrees to repair or replace your home and belongings — and to defend you against certain liability claims — when something goes wrong.

In Florida, the most common claims are wind, hail, water damage and theft. A standard policy covers the dwelling, other structures (like a fence or a shed), personal property, loss of use (the cost of living somewhere else while your home is repaired) and personal liability.

Flood damage is almost always excluded from a standard homeowners policy. If you live in South Florida — and most of South Florida was wetlands just a few years ago — you should treat flood as a separate must-have coverage, not an optional add-on.

Your mortgage lender will require a policy, but the minimum that satisfies the lender is rarely the right policy for you. We help our clients compare carriers, decide on replacement cost vs. actual cash value, and pick deductibles that make sense for their finances.