Review your coverage with your agent. Some older policies provide less coverage than the HO-3. They may not provide coverage for water damage, theft, or liability. They may also provide coverage for the house on an actual cash value basis, rather than a replacement cost basis.
Actual Cash Value means replacement cost less depreciation. For example, if your roof is destroyed in a storm, the insurance will only pay for the cost of a new roof less the amount of depreciation of the old roof. If your roof was in great shape, this deduction will not be large. However, if the roof was old and worn out, the deduction for depreciation may be significant. You should try to get an HO-3.
NOTE: The answers to coverage questions are primarily based on ISO forms generally used in Florida by most companies. However, please keep in mind that all companies’ forms are NOT necessarily the same. Some companies may provide broader coverage and some may be more restrictive.
IN ALL CASES, THE CONSUMER MUST REFER TO HIS OR HER OWN POLICY FOR SPECIFIC COVERAGE INFORMATION.
The privacy of our website visitor’s and our client's is very important to our company. We will respect your privacy and we will not share your information with advertining or marketing companies, and will not sell your information to any mailing lists. We only share your personal information with the companies and the individuals that are necessary in performing our business duties in acquiring and in servicing your insurance needs. Please feel free to contact us immediately if you have any questions about your privacy.
Information contained within this site is the property of Hoffman and Associates Insurance Company and is provided for consumers looking to purchase insurance. Any other use is prohibited. We are not responsible for errors and omissions on this web site. All information contained herein should be deemed reliable but not guaranteed, all representations are approximate, and individual verification is required. Please contact Hoffman Insurance Company at 321-751-2511 before making any purchase decisions based on information contained on this web site to check for validity. This content is copyrighted by Hoffman and Associates Insurance Company and will bring legal action on to anyone who copies the information contained here. PLEASE NOTE THAT COMPLETION OF A REQUEST FOR INFORMATION DOES NOT CONSTITUTE THE PURCHASE OF INSURANCE. NO COVERAGE MAY BE ADDED, CHANGED OR BOUND AS A RESULT OF SUBMITTING A REQUEST FOR INFORMATION. ALL COVERAGE MUST BE CONFIRMED BY THE AGENCY IN WRITING SUBJECT TO AN ACCEPTABLE SIG NED APPLICATION MEETING THE UNDERWRITING GUIDELINES OF THE INSURANCE COMPANY. Please read your policy carefully for your terms of coverage. No information in this website alters the terms of coverage in your individual policy. If you do not agree to these terms please exit this website