What Types of Coverage Does My Home Need in Martin County, FL?

Owning a home in Florida can feel like a significant achievement, providing you with a place to call your own and the freedom to customize it as you see fit. However, with investment comes responsibility. Florida’s unique weather and environmental risks make securing adequate homeowners insurance to protect your property financially crucial. Without it, you could face substantial out-of-pocket expenses for costly incidents.

Homeowners Insurance Coverage for Floridians

Florida homeowners should consider the following types of coverage:

• Dwelling coverage—This can help financially safeguard the physical structure of your home, which typically includes the walls, roof, floors and foundation, against covered risks such as fire, wind or vandalism.
• Personal property coverage—This can help financially protect your possessions, which typically includes furniture, appliances, electronics and clothing, from covered perils.
• Liability coverage—This can offer financial coverage if a third party is injured on your property and you are found legally responsible.
• Additional living expenses coverage—This coverage can offer financial support if your home is uninhabitable due to a covered event. It can help cover living expenses if you must temporarily reside in a hotel or other location while repairs are made.
• Flood insurance—Most Florida homeowners need flood insurance to protect against flooding, which is excluded from standard policies. You can purchase flood insurance through the National Flood Insurance Program (NFIP) or private insurers.
• Hurricane coverage—Florida homeowners should review their policies to ensure they have adequate hurricane coverage, which often includes separate deductibles for named storms.
• Sinkhole coverage—In some areas of Florida, adding sinkhole coverage to your policy is advisable to protect against this unique risk.

Depending on your situation, an insurance broker may also recommend the following:

• Business insurance—This can help if you run a business out of your home.
• Landlord insurance—This is necessary if you rent out your home.
• High-value home insurance—This can offer extra coverage limits if you own a high-end property or historic home,
• Insurance for high-value items—This can help if you own a collection of jewelry, artwork or other high-value items.
• Umbrella Insurance—This can offer extended liability protection that exceeds your standard policy limits.
• Water backup coverage—This can help cover damage from sewer or drain backups caused by heavy rains.

Learn More

Contact Wiglesworth-Rindom Insurance Agency to discuss your homeowners insurance policy. We can make recommendations based on your home’s specific characteristics.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.