The home insurance policy is one of the most misunderstood policies that an individual can purchase. Many changes to this type of insurance policy have occurred through the years to expand what is covered and also to clarify what the policy excludes. Our dedicated protection team will guide you through this selection process to make sure you are comfortable with the various provisions and coverages within the homeowners’ policy.
Sink Hole Coverage:
Will your policy cover you for sink hole damage? Well it depends, all policies in Florida are required to cover you for Catastrophic Ground Cover Collapse. “Catastrophic ground cover collapse” means geological activity that results in all the following:
- The abrupt collapse of the ground cover;
- A depression in the ground cover clearly visible to the naked eye;
- Structural damage to the building, including the foundation; and
- The insured structure being condemned and ordered to be vacated by the governmental agency authorized by law to issue such an order for that structure.
Some homeowner policies exclude coverage for sinkhole, what they mean by that, is they are not going to cover your home for cracking, of walls, the foundation, driveway, that is the result of settling. Again all policies are required by Florida State Law 627.706, to cover for Catastrophic ground cover collapse.
Report on Sinkhole Claims in Florida
To be very clear, the ultimate purpose of homeowner’s insurance is to enable the homeowner to rebuild his or her home and life, even in the event of total destruction.
A good homeowner’s insurance policy will cover:
- Your residence
- Any detached structures, like garages or garden sheds
- Your personal belongings
- Additional living expenses in the event of a loss
- Personal liability
- Medical expenses to others who may be injured on your property
Our office will provide you with the most comprehensive policy available on the market today which will help to put your life back in order in the event of a catastrophic loss.
Not all home insurance policies are alike. To be sure, there are many insurance companies in the market today that will quote an inexpensive policy but most of them are only giving you the “bare bones” coverage. When quoting your home insurance premium, we will use a full replacement cost valuation to be sure that you can replace your home in the event of a total loss.
We will also make sure you are clear about any areas of the policy that have limitations and exclusions. Items such as earthquakes, landslides and floods are excluded from the policy but may be purchased separately.
Other items such as jewelry, coins and collectible items have limitations in the policy but can be added by providing appraisals and paying a small additional premium.
Discounts are available for newer homes, central station alarm systems and higher deductibles.
As you can see, our protection team understands the way home insurance works. Let us identify the kind of policy and coverage you need when obtaining premium quotations to find the best values.