5 Home Insurance Questions to Ask

5 Home Insurance Questions to Ask

Home insurance is a must when you want to protect your home. Buying a policy can be confusing, which is why it is a good idea to ask a few insurance questions. The more you know about the insurance products and what it is going to cost, the easier it will be for you to get the right policy for your needs and your budget.

Is homeowners insurance required?

Florida does not require you to have homeowners insurance. However, if you have a mortgage, your lender most likely requires it as a way of protecting the loan until it is paid off.

What events are covered in a policy?

The events covered in a home insurance policy can vary. The most standard ones include flood, theft, fire, and storms. It is always a good idea to read the fine print so that you can be confident that the important events are covered so that you don’t get any surprises when you go to file a claim later on.

What kind of coverage can be added?

The coverage that can be added can vary from company to company.

The coverage that can be added can vary from company to company. You already have coverage for the structure, personal belongings, liability protection, and additional living expenses in the event that you cannot live in your home. Adding coverage can focus on including an additional structure or insuring luxury belongings, such as a boat, jewelry, or fine art. You can also add protection against various situations, such as a flood caused by a busted water heater or damage from a hurricane.

How much coverage is included?

The amount of coverage is going to depend on an array of factors. This includes the value of your home as well as how much you deem necessary within various categories. The more you wish to spend on your monthly premium, the more coverage you can add to your policy. It is often a good idea to go up in certain areas, such as liability, as a way of protecting yourself – and talking with a Vero Beach insurance agent can provide you with coverage recommendations.

What is the cost of Florida homeowners insurance?

Before you sign up for any policy, one of the most important questions has to do with the cost of the policy. This is likely going to be paid by your mortgage company as part of your escrow funds, but the cost is going to have an impact on what your monthly requirements are. Work with an insurance company to get quotes so you can make comparisons.