Florida Homeowners Insurance Questions

Does my Homeowners policy cover animal liability?

In most cases the answers is NO. Many people are not aware that most homeowners companies in Florida are now excluding Animal Liability from their policy. This is a coverage that no one should go without. Call one of our Hoffman & Associates agents today for a quote on a policy specifically for...

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My home is located in Indialantic Florida and my parents home is located in Melbourne Beach Florida they are both insured with Citizens property and casualty . What are the proposed changes I am hearing about that are effective 05/01/2012?

Effective 05/01/2012 for renewal and 06/01/2012 for new business Citizens Property insurance change are the following:Reducing the default on coverage B (other structures ) from 10% to 2%There will no longer be an option to schedule coverage B items individuallyReduce coverage C (personal...

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My State farm agent wrote me a homeowners policy for my home in Satellite Beach through Citizens property insurance is it true that I can be surcharged up to 45% in the event of a of a catastrophe?

Yes, in addition to the current premium you are paying for your Citizens property insurance policy you could be surcharged as much as 45% in the event that Citizens does not have the funds to pay for losses. One way to avoid this issue is to find a home insurance policy in a standard admitted...

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Why does the wind mitigation ask about Gable Bracing?

If your roof is anything other than Hip and it happens to be shaped as a Gable roof than the form wants to identify if there is bracing present and if it meets the 2001 Florida Building Code. For roof structures that contain gables the inspector will identify the weakest form of bracing that...

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Who Needs Flood Insurance? Everyone!

According to Federal Emergency Management Agency officials, some people do not buy flood insurance because they dont understand how the insurance works. Buying flood insurance can provide protection and peace of mind.Here are some common myths and facts about the National Flood Insurance...

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After a claim what factors determine the settlement amount?

The Type of Policy is one factor in determining the amount of a settlementReplacement Cost and Actual Cash Value: Replacement cost policies provides you with the dollar amount needed to replace a damaged item with one of similar kind and quality without deducting for depreciation (the decrease in...

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Am I covered for Acts of God?

Sometimes, the term Acts of God is not specifically mentioned in homeowners insurance policies. It usually refers to natural disasters like hurricanes and tornadoes, as opposed to man-made acts, like theft and auto accidents. Some natural disasters, such as damage from windstorms, hail, lightning...

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I recently purchased a ho-3 policy on my new home in Melbourne Florida (32940) am I covered for direct losses due to fire, lightning, tornadoes, wind storms, hail, explosions, smoke, vandalism and theft?

Yes. The HO-3 provides broad coverage for these and other perils, as they are called in the policy, including all those listed in the question. You should check the dollar limits of insurance in your policy and make sure your agent does a replacement cost estimator to determine the proper amount...

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What are some tips when preparing for Hurricane season?

Hurricane season starts June 1 and runs through November 30. TIPS:1. BUY ENOUGH INSURANCE Get enough insurance to rebuild your home and to replace all of your personal belongings. If you have made a major alteration or improvement to your home, or you have made significant purchases, notify your...

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I live in a low-risk flood zone. Do i really need flood insurance?

If your home is located outside of the high-risk flood zone, you're still at risk for flooding (and the insurance costs a lot less). FEMA estimates more than 20% of flood claims come from properties come from low to moderate risk flood zones. Keep in mind flooding can be very costly - just one...

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Whats the difference between cancellation and nonrenewal?

There is a big difference between an insurance company canceling a policy and choosing not to renew it. Insurance companies cannot cancel a policy that has been in force for more than 60 days except when:You fail to pay the premiumYou have committed fraud or made serious misrepresentations on...

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How do I take a home inventory and why?

Would you be able to remember all the possessions youve accumulated over the years if they were destroyed by a fire? Having an up-to-date home inventory will help you get your insurance claim settled faster, verify losses for your income tax return and help you purchase the correct amount of...

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What if I cant get homeowners insurance?

If you live in a home that is considered "high-risk" or plan to move to a high-risk location, you may have difficulty obtaining an insurance policy.What constitutes high-risk? Your home is located in an area prone to severe weather such as hurricanes, windstorms, tornadoes or...

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Is Flood Insurance affordable?

Flood insurance can be more affordable than you think, for those who qualify for preferred rates; below youll find a sampling of policy premiums from FEMA for different amounts of coverage. If you have any additional questions, would like assistance determining what your rate would be or are...

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What is in a standard homeowners insurance policy?

A standard homeowners insurance policy includes four essential types of coverage. They include:1.Coverage for the structure of your home.2.Coverage for your personal belongings.3.Liability protection.4.Additional living expenses in the event you are temporarily unable to live in your home because...

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What does my credit rating have to do with purchasing insurance?

Credit scores are based on an analysis of an individuals credit history. These scores are used for many purposes such as securing a loan, finding a place to live, getting a telephone and buying insurance. Insurers often generate a numerical ranking based on a persons credit history, known as an...

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How often should I review my policy?

There are four events that should trigger a review of your policy:1. When your policy comes up for renewalDont just automatically send a check to your insurance company. Take the time to review your coverage and call your agent with any questions or concerns that you may have regarding your...

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Im installing a poolwhat kind of insurance do I need?

Call your homeowner insurance agent or company representative.Let your insurance company know that you have a pool, since it will increase your liability risk. Pools are considered an attractive nuisance and it may be advisable to purchase additional liability insurance. Most homeowners policies...

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I am going to build a new home in Brevard County, Melbourne area or over on the barrier island (Satellite Beach, Indian Harbor Beach, Indialantic or Melbourne Beach). Everybody I talk to say to get insurance with a company with an "A" Rating wha

After a detailed analysis of insurers financial situation companies, such as Demotech, assign a letter rating based on the financial stability of each individual company.For Example:A" (A Double Prime) P&C insurers earning an FSR of A" (A Double Prime) have Unsurpassed ability to...

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4 Point Inspections-What are they?

The Four Point Insurance Inspection consists of the following four systems:Roof inspection Electrical Inspection HVAC (Heat, Ventilation & Air Conditioning) Plumbing A four point inspection is generally required on older homes in order to purchase insurance. Requirements vary from company to...

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I live in Melbourne and recently read FEMA is remapping flood zones in Brevard County including the beach side communities of Satellite Beach, Melbourne Beach, Indian Harbor Beach, and Cocoa Beach. If I am not currently in a flood zone what is the advanta

If you are aware that flood remapping is taking place in your community, and you dont have flood insurance, now is the time to buy it before remapping takes effect. In that case, you will be able to take advantage of grandfathering of that policy at the current rate. The government allows for...

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What does a wind mitigation inspector look at?

A wind mitigation inspector will look at many features of your home to determine what discounts you may be eligible for. Basically they will look at the following areas: Roof Covering The insurance company is mandated to give discounts if you have had your roof replaced since 2001 Florida...

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Why Should I Consider Flood Insurance?

Why Should I Consider Flood Insurance? According to the National Flood Insurance Program: Floods are the most common natural disaster. With more and more buildings, roads and parking lots being constructed where forests and meadows used to exist, floods are becoming more severe. People who live...

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What is the purpose or intent of a wind mitigation inspection?

A Wind Mitigation is used to identify possible discounts that a homeowner may be eligible for. It is not used to charge homeowners more money. Your Hoffman & Associates Insurance Agent would be happy to review with you the pros and cons of having a Wind Mitigation Inspection done as it pertains...

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What are some things that are recommended following a flood?

You do not have to be in a flood zone to be affected by a flood. Hoffman & Associates recommends talking to your agent regarding this coverage before you are in need of assistance from a flood.The following guidelines are recommended by FEMA for the period following a flood: Listen for news...

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I currently reside in Palm Bay, Florida well away from the coastal cities like Indialantic or Melbourne Beach, would I want to consider Flood insurance when I am not as high of a risk as the coastal cities?

Yes, you would want to consider a Flood Insurance Policy. Anywhere it rains, it can flood. As a homeowner it is always important to insure your home. Depending on the location of your property, your home would be considered either at high-risk or at moderate-to-low risk for a flood. The flood...

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There are so many big insurance companies out there cancelling policies and leaving the state I am worried about my current homeowners policy. What are some things I should look for when trying to determine if an Insurance company is stable when buying a

There are several factors to review when determining the stability of an insurer. Here is a brief version of what to look for in a company you are considering as your insurance carrier:Reserves (in millions of dollars): Florida regulators believe insurers need at least $10 million set aside for...

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What is the difference between Replacement Value and Market Value?

Homeowners insurance policies often provide replacement cost coverage for the dwelling in the event of a loss.As such, insurance companies require policy holders to purchase an amount of insurance equal to the cost to rebuild the home using current construction costs. This is very different from...

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How do I document my personal property for my insurance company?

To document personal property you can make a list of major household items and possessions. Where possible, it is wise to list the serial number, date and cost of purchase, and even include the receipt if you can. Another way is to use a video camera or take pictures of your home and its...

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I am currently shopping for homeowners insurance where do I begin?

You are not alone currently there are thousands of Floridians asking themselves the same question. State farm and Nationwide are following the footsteps of Allstate and many others and are non-renewing thousands of policies in Florida to reduce their hurricane exposure. First and foremost Be an...

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What is wind loss mitigation on a home insurance policy?

Wind loss mitigation is performed by a licensed inspector to determine the dwellings ability to withstand hurricane force winds. The inspection focuses on the type of roof, the roof deck attachments, roof to wall attachments, and any other modification to the dwelling such as hurricane shutters.

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What preparations should I take before a hurricane season?

Some preparations to take before hurricane season comes to Florida are: Make sure youre covered! Insurance companies do not accept new application or requests for increased coverage once a hurricane nears Florida. If you have any questions or changes regarding your coverage contact your agent...

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How much homeowners insurance coverage should I have?

Your coverage will be determined by the size and features of your home. Your policy will be customized to your unique needs. Our experienced insurance agents can help you identify any gaps in your existing coverage and determine if you need additional coverage to protect your home and property.

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What does my homeowners insurance cover?

The typical homeowners policy has two main sections: Section I covers the property of the insured, and Section II provides personal liability coverage for the insured. Almost anyone who owns or leases property has a need for this type of insurance. Usually, homeowners insurance is required by the...

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F.A.Q - Questions And Answers about Florida Insurance

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