There are all sorts of Florida homeowner’s insurance laws that you should be familiar with. It will make it easier to get the coverage that you need. Insurance agents can help you to make sense of the laws and get quotes, too.

What’s Required

It’s important to know that the state of Florida does not require you to maintain homeowner’s insurance. When it comes to laws, there isn’t one regarding having a policy. This means that it’s your choice as to whether you want the coverage or not.

If you have a loan on your home, your mortgage company may have their own rules, however. This means that if you’re making a mortgage payment, you’re likely to have a homeowner’s insurance policy. They might also dictate how much coverage you need, at a bare minimum, to ensure that your investment is properly protected.

What Policy Coverage Includes

The insurance bureau has some laws in terms of what a policy needs to include. Your policy will provide coverage to include several components:

  • Structure
  • Other structures
  • Personal property
  • Loss of use

No matter what insurance company you go through for your policy, your home, other structures, and personal property will be covered. You will also have loss of use, otherwise known as additional living expense. The latter is for when your home is not livable during repairs.

Flood insurance might also be required, though it depends on whether you’re in a FEMA-appointed flood zone. It’s another law that you need to be aware of as it will impact what you’re required to have and therefore affect what you pay for insurance premiums.

As for other coverage, it’s entirely up to you in terms of what kind of coverage you want to have. You can have add-on coverage for any of the above items, such as a high-value rider for personal property such as artwork and collectibles. Additionally, you can add liability coverage so that you and your family are protected when you damage other people’s property and if someone gets injured on your property.

Understanding the Florida homeowner’s insurance laws will ensure you meet the minimum requirements. It will also ensure you’re protected by insurance companies.

Independent insurance agents can help you to understand the various insurance laws. You can count on them to break down the laws so that you’re able to get a policy that will provide plenty of protection over your investment. An agent can help you not only with the laws but also with getting quotes.