2024 Home Owners Insurance in FL

Seems like Home Owners Insurance in Florida has changed more in the past 3 years, than it did in the previous 10.

The HO Ins. Industry Insurance companies all over Florida are going Bankrupt, getting bought out by their competition, or pulling out of Florida.
Fewer options often means higher prices.  Additionally, 4 Point Insurance Inspections & Wind Mitigation Inspections are more often required
(even for newer homes that didn’t need these inspections before).   Call Sherlock Home Inspections! We can usually have an inspector on site within a day or two.   Click the link below for more info about 4 Point & Wind Mitigation Inspections. Services
6 Things Every Home Buyer Should Know About Home Owners’ Insurance Below are the top 6 things, but also… A link to a previous article to understand what the Insurance Company is looking for.
1. Exclusions to coverage – Most insurance policies do not cover flood or earthquake damage as a standard item. These types of coverage must be bought separately.
2. Limitations on claims – Even if you are covered for a risk, there may be a limit on how much the insurer will pay. For example, many policies limit the amount paid for stolen jewelry unless items are insured separately.
3. Replacement cost – If your home is destroyed, you’ll receive money to replace it only to the maximum of your coverage, so be sure your insurance is sufficient.
4. Actual cash value – If you chose not to replace your home when it’s destroyed, you’ll receive replacement cost, less depreciation. This is called actual cash value… 5. Liability – Generally your homeowner’s insurance covers you for accidents that happen to other people on your property, including medical care, court costs, and awards by the court. However, there is usually a limit to the amount of coverage provided. Be sure that it is adequate.
6. Wind Mitigation Inspections are usually good for 5 years, but there are exceptions. 4 Point Insurance Inspection are usually required every few years, but exactly when depends on your policy. BOTH are almost required when getting new insurance – even a new policy with the same company. To find out how to understand a Wind Mit report 
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