Homeowners insurance helps protect the place where you live from losses due to fire, theft, vandalism or other covered events. The right policy gives you peace of mind and the money you need to repair or replace your home and/or belongings, whether you live in a house, apartment, or condominium. Renters' insurance can cover your belongings if you rent.
ARCW Insurance can help you find the Florida home insurance quote that will best meet your needs and provide the most valuable combination of tailored coverage, quality service and fair pricing.
Depending on where you live – a house, apartment, or condominium – the right home insurance policy can provide you peace of mind as well as the money you need to repair or replace your home and/or belongings.
What is Homeowners' Insurance?
Homeowners' insurance insures your home's structure and contents in the event of a destructive event. The policy generally also covers liability (that is, if somebody falls in your pool and is injured you are protected from legal liability). Injuries on your property can result in considerable expenses.
For condo or apartment owners, the policy covers belongings, liability and the interior structure.
Insurance also provides additional living expenses coverage, which covers staying in a hotel while your home is repaired.
Home insurance does not cover flooding (flood insurance must be purchased separately) or earthquakes (not an issue in Florida). Routine wear and tear is also not covered.
Florida Home Insurance
Whether you own or rent, insuring the place you call home can help protect you financially if you suffer a loss due to fire, theft, vandalism, or other covered events. It will also cover you in the event someone is injured while on your property and wins a legal judgment against you.
Homeowner insurance policies differ by which losses are covered, which coverages you choose, and what type of residence you own. You choose which policy is best for you, whether it’s a comprehensive policy that cover losses such as fire, hail, smoke, falling objects, vandalism and theft of personal property, or whether it’s a policy that covers only specified losses.
Whether you’re a home or condo owner, a renter, or a landlord, we will work with you to find a Florida home insurance policy that fits your needs. We specialize in making it easy to choose the insurance coverage that gives you the best value for the best price.
Your home insurance policy is most often made up of the specific options you choose.
How much you’ll pay for your policy depends on:
- Options you select– Often home owner insurance options are priced individually, so how much you’ll pay for your policy depends on what coverages you buy.
- How much you want to cover– Higher deductibles usually lower your premium price by shifting part of the loss payment to you. For example, if you had a $500 deductible, you would be responsible for paying the first $500 of the covered loss.
- Where you set your limits – You may choose to set higher limits than the recommended amount if appropriate to your situation and needs.
How Much Home Insurance Do You Need?
Homeowners insurance policies differ by which losses they cover, what optional coverages you select, and the type of residence you own. You can choose between a comprehensive policy that covers all kinds of losses including fire, hail, smoke, falling objects, vandalism, and theft of personal property, or a policy that covers only specified losses. For example, if you live somewhere where it almost never hails, you may be able to save money by not including hail damage. Insurance companies often offer a menu of options that are priced individually, allowing you to put together the package you need. Most homes are insured with a standard package that covers specific things. However, you can go with a more limited package if it fits your budget.
The other factor is how much coverage you want. Higher deductibles usually lower your premium price by shifting part of the loss payment to you. For example, with a $500 deductible, you pay the first $500 of a covered loss. You also can decide how much to set the highest coverage limit at, particularly for liability. Unlike some states, Florida does not require you to have homeowners' insurance, but your lender may. If that's the case, your lender will set recommended minimums for coverage amounts, but you can go higher if you feel it necessary. Finally, some details of your home's location, age, characteristics, can affect premiums and can sometimes make your home harder to insure.
Which Insurance Company is Best for Homeowners?
The answer is that it depends. Some companies offer better deals for condo owners, others for people who own standalone houses. It's important to shop around to find the best premiums for your combination of home type, required coverage, and coverage amount. The value of your home, its age, location, even how far it is from the nearest fire hydrant can all come into play. Having a pool can also raise your premiums. If you are looking into bundling auto insurance (which can often save money), then that can also affect the best company to go with.
This can be a lengthy and complicated process. For most homeowners, it's best to hire an insurance agent who is already familiar with available policies in the area and who knows the local market and conditions. An agent can help find the best company for your precise circumstances in far less time than it would take you. They can also advise you on steps you can take to lower your premiums such as installing a burglar alarm, putting a fence around your pool, or having good storm shutters. A good insurance agent will help you find the best insurance company with much less hassle. Contact ARCW Insurance to find out how we can help you find the best homeowners insurance company for your Florida home.
Worried you aren’t completely covered? Consider an umbrella insurance policy that extends your coverage.
