There are many benefits to being a homeowner in Florida, but there are also major responsibilities. Making sure you have homeowners insurance should be a top priority. If you don't have a mortgage on your home, you aren't required to have insurance coverage on the property. Failing to consult a Fort Lauderdale FL insurance broker about homeowners insurance can be quite detrimental in the event that your property or possessions are damaged.
If you received a loan from the bank to purchase or refinance the home, the bank will want to make sure that you have homeowners insurance. They will request a copy of the policy as proof that there is sufficient insurance coverage for the property. If the bank doesn't get the information they need, they will put hazard insurance on the property.
There are several disadvantages to having hazard insurance on the house. It protects the mortgage company's financial interest in the home, but the policy tends to be expensive. The hazard insurance only covers the replacement cost of damage to the structure of the home. You may not get compensation for damage to other parts of the house or for your personal belongings.
When you consult a Florida insurance broker, you can discuss getting a comprehensive homeowners policy that covers the house, your personal items, and other structures on the property. You can also find out about coverage that protects you if someone is physically hurt or injured on the property.
Wind, hail, fire, and water can cause serious damage to your home. If many contents are damaged or destroyed in the house, it can be very expensive to replace them. Furniture, audio equipment, refrigerators, stoves, jewelry, walls, floors, ceilings are some of the contents that could become damaged or destroyed. A homeowners policy will help you cover the cost of replacing those valuable items.
Contact a Florida insurance broker in Fort Lauderdale to review your options for a homeowners insurance policy that fits your budget and needs. Never take chances with one of the largest investments in your life, your home, and its contents. If you reside in a designated flood zone, the broker can help you get coverage for damages potentially caused by floods as well.
If you received a loan from the bank to purchase or refinance the home, the bank will want to make sure that you have homeowners insurance. They will request a copy of the policy as proof that there is sufficient insurance coverage for the property. If the bank doesn't get the information they need, they will put hazard insurance on the property.
There are several disadvantages to having hazard insurance on the house. It protects the mortgage company's financial interest in the home, but the policy tends to be expensive. The hazard insurance only covers the replacement cost of damage to the structure of the home. You may not get compensation for damage to other parts of the house or for your personal belongings.
When you consult a Florida insurance broker, you can discuss getting a comprehensive homeowners policy that covers the house, your personal items, and other structures on the property. You can also find out about coverage that protects you if someone is physically hurt or injured on the property.
Wind, hail, fire, and water can cause serious damage to your home. If many contents are damaged or destroyed in the house, it can be very expensive to replace them. Furniture, audio equipment, refrigerators, stoves, jewelry, walls, floors, ceilings are some of the contents that could become damaged or destroyed. A homeowners policy will help you cover the cost of replacing those valuable items.
Contact a Florida insurance broker in Fort Lauderdale to review your options for a homeowners insurance policy that fits your budget and needs. Never take chances with one of the largest investments in your life, your home, and its contents. If you reside in a designated flood zone, the broker can help you get coverage for damages potentially caused by floods as well.
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