The Insurance Ladies has partnered with most insurance companies offering homeowners in the entire State of Florida, that also work closely with our South Florida (Miami-Dade, Broward and Palm Beach Counties) difficult markets. Our agents are experienced in helping homeowners and renters find the right insurance solution. When it comes to your home, obtaining expert advice and the right coverage is in your best interest
Renters
Builder’s Risk
Standard homeowners insurance policies will typically help pay to repair damage caused by certain risks, or perils, including:
● Theft
● Fire and smoke
● Windstorm or hail
● Falling objects
● Frozen plumbing
● Water damage from plumbing, water heater, heating or cooling system or appliance
Actual cash value refers to the current value of property measured in cash. Insurance adjusters typically arrive at the ACV amount by taking the replacement cost and deducting depreciation that’s brought about by wear and tear and age
Replacement cost is a payment equal to the amount you’d pay to replace whatever was damaged or stolen at today’s cost.
Home insurance policies in Florida provide the following types of coverage:
Covers damage or destruction to your house in the case of any untimely events, including hail, wind, fire, and theft.
Covers the contents of your house that are damaged, stolen, or destroyed, including furniture, clothing, technology, and appliances.
Covers you against financial loss if you are sued and found legally responsible for someone else’s injury or property damage.
Covers necessary medical expenses incurred in the event there is an accident at your home that caused bodily injury to someone else.
Covers additional living expenses if your home is uninhabitable due to a covered loss. Most insurance policies pay 10% to 20% of the amount of your dwelling coverage.
Covers damages or destruction to other structures on your property, such as your garage, patio, fence, gazebo, small shed or barn.
The more risk your house carries of fire dangers, liability issues, or crime will affect your insurance premium. Check out this complete list to see what factors affect your Florida Homeowner’s premium.
New houses can be up to 25% cheaper to insure than older houses due to their lower risk factor.
The size, materials used , and condition of your house will affect the insurance premium rate.
How old or new your plumbing and electrical systems will affect your insurance premium.
The condition and respective risk of a roof, garage, swimming pool, or trampoline will affect your insurance premium rate.
Expect to pay a higher premium if you live in an area prone to natural disasters, floods, and crime.
Installing security measures such as alarm systems, locks, or security cameras can reduce premiums.
Living near a firehouse or fire hydrant can lower premiums. Having fire hazards like outdated heating systems or wood-burning stoves can increases premiums.
Houses that are used to run businesses run higher risks of facing lawsuits, theft, and accidents, consequently incurring higher premiums.
Being married, owning a dog, or being an avid smoker can affect your HO Florida insurance premium.
The higher the deductible, the more money you can save on your premiums. Choosing the right deductible amount is important for your finances in the long run.
The more often claims are filed, the higher the premium is. Remember that claims you have filed at previous residences will follow you.
You can not be refused coverage because of low credit. On the other hand, you can be offered a discount on your premium if you have a higher credit score.
