Being a homeowner comes with many perks and advantages, but when you experience a homeowners loss, you may be quickly shocked to learn your loss may not be covered if you aren’t completely aware of the policy terms, conditions, provisions, and exclusions. A Florida homeowners insurance policy is designed to protect you and your home against catastrophic occurrences, but some of those losses may be specifically excluded under your policy. Before you are faced with a coverage denial, discover some common losses that your Florida homeowners policy typically excludes.
6 Exclusions You May Find Under Your Standard Florida Homeowners Insurance Policy:
Flood- Many people may think damages resulting from flooding are covered under their Florida homeowners policy; however it is specifically excluded and depending on your carrier, either requires an endorsement added to your homeowners or a totally separate policy for Flood. See your Florida independent insurance agent for further details regarding a Flood insurance policy.
Earthquakes- Earthquake damages are excluded under your Florida homeowners insurance policy and require a specific, separate policy in order to get coverage for this type of catastrophic loss. If you have any questions regarding this separate insurance policy, contact your Florida independent insurance agent.
Sewer/Drain Back Up- Damages resulting from a sewer or drain back up into your home are messy, costly, and typically excluded under a typical Florida homeowners insurance policy. However, through an endorsement added to your homeowners insurance policy, you can “add on” this type of coverage for a relatively inexpensive fee.
Seepage- Slow leaks are excluded under a typical Florida homeowners insurance policy, so for water damage to be covered it must be sudden and accidental.
Sinkholes- Damages to your home produced by sinkholes are excluded under a typical Florida homeowners insurance policy and require you to invest in a separate insurance policy designed particularly for sinkhole damages.
Home Renovations/Updates- Your Florida homeowners insurance policy may not provide coverage for all losses that may occur during your home renovation, so before you initiate any type of updates/renovations to your home, it may be wise to discuss with your local Florida independent insurance agent. Knowing the projected scope of the renovation will help to ensure you have the right type of insurance protection (a special policy may be recommended) that you may need when the job is underway.
Following the home overhaul or renovation, it is also recommended that you keep communications open with your independent insurance agent to evaluate whether your current homeowners coverage amount reflects the updated value of your home.
Ideal Insurance, Inc. understands your needs as a Florida homeowner and can assist you with any questions you may have regarding your policy provisions, conditions and/or exclusions. Give us a call TODAY at 941-921-2102 for all of your Florida homeowners insurance needs.