Investing in the home of your dreams may be your biggest asset, but what if you suffer a disastrous loss that damages your home extensively only to find out there is a policy exclusion you knew nothing about? Being faced with paying for all the damages out of your own pocket can be both emotionally and financially devastating. Before you invest in a Florida homeowners insurance policy, make sure you are aware of some important coverage options that you may not otherwise consider.
Your standard Florida homeowners insurance policy comes with policy terms, conditions, and exclusions and because each insurance policy is unique, you may find yourself in a coverage gap that leaves you in the hole. A “cookie cutter” insurance policy may appear to offer the best rate; however, it may not take into consideration your specific needs as a homeowner. Each home is different with each homeowner having varying needs; therefore you should take the time to discuss all of your homeowner needs with your local Florida independent insurance agent to decide which coverage options you need and which ones you don’t.
Below Are Some Coverage Options You May Want to Consider
Personal Cyber Protection
Cyber crimes are at an all-time high, which means protecting your identity is paramount. Invasion into your personal and financial information is the objective of a cyber criminal, leaving your identity stolen, security violated, and your credit reputation jeopardized. Investing in an endorsement that can be added to your Florida homeowners insurance policy can allow coverage for the following:
- Expenses to recover your identity and stolen data
- Costs related to the defamation of your credit reputation
- Incurred fees required in investigating the cyber crime/fraud and refunding any stolen money or online sales
Utility Line Insurance
Experiencing a sewer or drain back up into your home is both costly and messy, especially since a standard Florida homeowner insurance policy excludes coverage for this type of loss. However, the good news is that in exchange for a nominal fee, you can fill the coverage gap with an endorsement that provides coverage to include damages resulting from the following, but not limited to:
- Sewer Pipes and Drain Pipes
- Natural Gas Pipes
- Underground Electrical and/or Power Lines
A typical Florida homeowners insurance policy specifically excludes damages caused by flooding; however, you can obtain a separate Flood insurance policy designed to cover flood damages. Regardless of what many people think, floods can happen regardless of where you live so it may be wise to discuss this type of insurance with your local Florida independent insurance agency. Even if your home is in a designated “low risk” area, floods can still occur resulting in exorbitant damages to your home.
As a homeowner, you understand that when your heating or air-conditioning malfunction or break down, you are faced with repairing or replacing these items, which can be pricey. Because this type of situation is excluded under your Florida homeowners insurance policy, you are faced with paying for this out of your own pocket unless you have this type of additional coverage. It is designed to cover the malfunction or breakdown of electrical pumps, televisions, heating, and air-conditioning, to name a few. Contact your Florida independent insurance agent for further details on this type of add-on coverage.
Coverage Options for Your Needs
Ideal Insurance, Inc. understands that no two homeowners insurance policies are built the same and we believe in only paying for the coverage options you need. Your Florida homeowners insurance needs are our priority so call us TODAY at 941-921-2102 to discuss the coverage options that best fit your needs at an affordable rate to you. For a nominal fee, you will be rewarded with the peace of mind in knowing you and your home will have the protection it needs and deserves.