There are many responsibilities associated with owning a home in Florida. Having a homeowners insurance policy is a necessity if you received a mortgage to help purchase the property. Even if you don't have a mortgage, it's still beneficial to get insurance coverage from a Fort Lauderdale FL insurance broker to protect yourself from potential financial losses to your home and possessions.
If you have a mortgage on your home, your mortgage company will want a copy of your homeowners insurance policy to prove that you have adequate coverage on the home's structure. If you cannot prove to the mortgage company that you have insurance coverage, the mortgage company will place hazard insurance on your home.
You do not want your mortgage company to put hazard insurance on your home to protect their financial interest in the property. Hazard insurance is very expensive and only covers the replacement cost of your home if the structure becomes partially or wholly damaged.
When you purchase your own homeowners policy, coverage should include damage to the home and your personal belongings. Other structures on the land such as a garage and swimming pool will be covered as well if they sustain damage. A comprehensive policy will also protect you if people are injured on your property.
Nature can wreak havoc on a home in different ways caused by wind, water, and fire. Contents of a home are expensive to replace in the event your contents are destroyed or stolen. Some of the valuable items in your home that could be damaged include televisions, electronics, stoves, refrigerators, furniture, flooring, walls, ceilings, clothing, and jewelry, among other things. Few people have the money to replace everything inside the home if they lose their contents. A homeowners policy helps you to replace those lost contents.
An insurance broker in Fort Lauderdale can help you decide which type of homeowners policy is best for you. You should carefully examine your options since buying a house is one of the biggest financial investments you'll ever make. If you life in a flood zone, you also need to take that risk into consideration when you are choosing a homeowners policy.
If you have a mortgage on your home, your mortgage company will want a copy of your homeowners insurance policy to prove that you have adequate coverage on the home's structure. If you cannot prove to the mortgage company that you have insurance coverage, the mortgage company will place hazard insurance on your home.
You do not want your mortgage company to put hazard insurance on your home to protect their financial interest in the property. Hazard insurance is very expensive and only covers the replacement cost of your home if the structure becomes partially or wholly damaged.
When you purchase your own homeowners policy, coverage should include damage to the home and your personal belongings. Other structures on the land such as a garage and swimming pool will be covered as well if they sustain damage. A comprehensive policy will also protect you if people are injured on your property.
Nature can wreak havoc on a home in different ways caused by wind, water, and fire. Contents of a home are expensive to replace in the event your contents are destroyed or stolen. Some of the valuable items in your home that could be damaged include televisions, electronics, stoves, refrigerators, furniture, flooring, walls, ceilings, clothing, and jewelry, among other things. Few people have the money to replace everything inside the home if they lose their contents. A homeowners policy helps you to replace those lost contents.
An insurance broker in Fort Lauderdale can help you decide which type of homeowners policy is best for you. You should carefully examine your options since buying a house is one of the biggest financial investments you'll ever make. If you life in a flood zone, you also need to take that risk into consideration when you are choosing a homeowners policy.
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