What You Need to Know When Purchasing Homeowners’ Insurance in Florida

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Homeowners in Florida are required to purchase property insurance in order to protect their homes in case of damage. When trying to find the right Florida homeowners insurance rates for your home, you need to be able to understand the questions your agent is asking you, and you need to be able to give them accurate information in return. Truly understanding the questions that your property insurance agent is asking will help you find the right homeowners’ insurance policy for you and your family.

What type of residence do you own?

The type of homeowners’ insurance policy you need depends on the type of property you own. There are different coverage limits and types of policies depending on the type of residence you own. These type of residences can include:

  • Townhomes
  • Condos
  • Houses
  • Manufactured Homes
  • Rental Properties

Make sure you know exactly what type of home you own when speaking to your insurance agent, as each of these types of properties have specific policy requirements.

Where is your home located?

The amount of risk associated with your home depends on where your home is located. The riskier the location, the more your homeowners’ insurance is going to cost. The first risk factor for a home would be the area’s history of floods and severe weather, which are unfortunately very common in Florida. Florida Insurance agents will also look at historical data from the area to determine crime rate patterns. If you understand the risk surrounding the area you are looking to live in, you will have a better understanding about how affordable your insurance rates will be.

How old is your home?

Luckily, it’s not too hard to determine the age of your home in Florida, and you don’t have to worry as much about potential age related structural problems. Older homes typically cost more than newer homes to insure because of all the issues that can remain hidden in an older home until it’s too late. Make sure you provide the exact year that your home was built so you can get the most affordable homeowners’ insurance rate.

What materials were used to build your home?

The materials that your home was built with will greatly affect how affordable your property insurance plan is. Homes made of wood are extremely susceptible to wind and fire damage. Luckily, most new homes in Florida are made of concrete, which will add strength and stability to your home, along with the added benefit of keeping your homeowners’ insurance rates lower.

The more information you have available for your Florida property insurance quote agent, the more likely you are to get quality, affordable homeowner’s insurance coverage in Florida. Be sure to obtain a number of different homeowners’ insurance quotes before selecting your policy!



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