Your home is the center of your daily life, and likely the largest purchase you'll ever make. At Bradenton Insurance, we understand how important your home is, so we make sure you understand your options and select the appropriate amount of coverage for your specific situation. With the right home insurance policy, you'll experience peace of mind knowing you have the protection necessary should the unimaginable ever happen to you and your family.
The amount of insurance you need depends on many factors, not just the amount of your loan. In order to be adequately covered, your home must be insured for the amount it will take to rebuild at current building material prices, labor costs, and amount necessary to bring it in compliance with current building codes. What people don't always realize is that homeowner policies go beyond incidents such as fire, theft, vandalism, etc. to provide liability coverage and pay for legal fees/settlements should someone win a judgment against you.
Owner occupied homes require the following basic coverages:
Additional Living Expenses (Loss of Use)
Besides making sure you have enough protection to cover possible damage to your own home and contents, you should also evaluate your exposure to liability risks. These result from damage to the property of another, or injury to a person, not a member of your household, for which you can be responsible.
In recent years it’s become common for homeowners to be sued for injuries or damages to others, even when there is no evidence of negligence by the homeowner. The reality today is if you have any appreciable assets, you are exposed to the risk of being sued. Even if you ultimately prevail in court, your legal fees and the months or years of worry and uncertainty can be a terrible burden on you and your family.
The Personal Liability coverage provided by your Homeowners Policy usually provides a limit of $100,000 or $300,000. We recommend increasing this protection with a personal umbrella policy. Not only will it increase your personal liability, but also your auto liability. Limits are available from $1 million to $10 million and beyond.
Homeowner insurance policies differ by which losses are covered, which coverages you choose, and what type of residence you own. Don’t worry though because we are insurance experts and will help you choose which policy is the best fit. Whether it’s a comprehensive policy that covers losses such as fire, hail, smoke, falling objects, vandalism, and theft of personal property, or a policy that covers only specific losses, we’ve got you covered.
Also, don’t forget about Flood Insurance. It’s not included on homeowner policies, but is extremely important in Florida, and likely much less expensive than you think!
We can find discounts on homeowner insurance you may not find on your own. Give us a call, or get a homeowner insurance quote online today.