Do You Need Homeowners Insurance?

As a minimum, your homeowner’s insurance policy protects you financially in the event of fire or vandalism. Separate flood insurance also protects you from water damage caused by floods and can be added to your homeowner’s insurance package. Since every Florida home is in danger of flooding, Dimmit Insurance offers flood insurance from the National Flood Insurance Program or other underwriters. Homeowner’s insurance does not cover flooding.

What Are the Benefits of Homeowner’s Insurance?

The benefits of homeowner’s insurance are a necessity if you have tangible assets, whether you own a home or are a renter. These policies offer:

1. Comprehensive coverage – this protects you and your property from damage related to:
   1. Fire
   2. Storms
   3. Smoke
   4. Theft
   5. Vandalism
   6. Other hazards
2. Pays for temporary living expenses should your home becomes unlivable due to a covered claim
3. Offers optional coverage for valuable personal property such as musical instruments, jewelry, and more.
4. Offers replacement cost coverage for personal belongings with the new equivalent items of equal quality.
5. Offers several other optional coverages that include:
   1. If you own a pet you can purchase optional pet bite coverage that pays the medical expenses of a victim if your pet bites someone that doesn’t live in your home.
   2. Bring your home up to current building code requirements. Imagine your home’s kitchen is destroyed by a fire. The fire spread to other parts of the house. In addition to repairing your home to its original condition, your homeowners’ policy may pay for any new code requirements following your home’s construction.
   3. Falling debris may also be covered. This coverage protects your home from damage caused by items that fall on your home from the sky – this can be debris from space or an aircraft flying over your home.
   4. Some policies cover damage caused by power outages. An example of this benefit is spoiled food in your refrigerator that shut off due to a power failure.
   5. Property losses of family members no longer living at home are another potential benefit of homeowner’s insurance. This coverage pays for losses of personal property (a computer) by a family member not living home (a college student example).
6. Liability insurance is another valuable coverage for homeowners and renters. This coverage pays for medical bills and other losses claimed in a lawsuit against you for an injury that happens on your property in your home. An example of this coverage is if someone slips on your sidewalk.

There Are Two Types of Policies

Insurance companies offer two kinds of homeowner’s/renter’s insurance. They are:

1. Named peril insurance
2. All-risk insurance

If you buy a named perils homeowner’s insurance policy you choose what risks you want protection for, an all-risk policy provides coverage for any perils involving your property and the insurance company has the burden of proof in rejecting a claim.

Dimmit Insurance is an independent insurance agency. This means our team of licensed insurance professionals have access to many companies to find you the best value for your Florida homeowner’s insurance. Call us today for a no obligation homeowner’s insurance quote. We shop many insurance companies to find you the insurance that is best for you. Call today (866) 763-6627 or use our online quote request form.