www.SWFLAgency.com<\/a> <\/strong><\/p>\nSWFL Insurance Agency offers Homeowners Insurance thru the top rated Insurance Companies in Florida.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"Homeowners insurance is designed to bring your home and possessions back to the same condition they were in before a loss occurred. There are several different types of homeowners policies offered by a wide variety of insurance companies and not all coverages are the same. You should speak directly with an agent at SWFL Insurance Agency about your specific coverage needs. The most common Policy Form written in Florida is the HO3. The information below applies to the HO3. While reading through the information below, you should keep in mind a couple definitions: (a) Exclusions are situations where your policy does not provide coverage; and (b) Liability is something for which you are legally responsible. Coverage A \u2013 Dwelling Imagine your house on moving day\u2026empty, waiting to be filled. This is the part referred to as Coverage A: your physical home (walls, fireplaces, tile floors, carpeting, etc.) and the structures attached to it, such as an attached garage. The current real estate market does not effect the insurance value of your home. Your home should be insured for the Replacement Cost or amount that it would cost to rebuild in full (to current building code) in the event of a total loss. If you aren\u2019t sure your home is adequately insured, you can check with your Independent Agent at SWFL Insurance Agency. Coverage B \u2013 Other structures Not all structures that exist on your property are actually attached to your house. Therefore, Coverage B offers insurance protection if you have other structures such as a pool, detached garage, gazebo, or storage shed. Coverage C \u2013 Personal property Your personal possessions such as furniture, clothing and appliances are covered. Certain types of possessions are excluded or have limited coverage. Please see personal property exclusions and limits of coverage for more specific information. Coverage D \u2013 Loss of use This coverage is also called Additional Living Expense. Essentially, this pays for your increase in housing and other living expenses (like meals and laundry) if a major loss makes your house uninhabitable and you have to move out temporarily while it\u2019s being repaired. Covered perils Coverage A & B are insured against risk of direct loss or all risk subject to conditions and exclusions. Sinkhole is excluded. Coverage C are insured for the specific perils listed below subject to conditions and exclusions. fire or lightning windstorm or hail explosion aircraft vehicles riot or civil commotion smoke theft vandalism\/malicious mischief glass breakage Some policies also provide coverage for: falling objects weight of ice, snow or sleet freezing of plumbing accidental plumbing discharge rupture of steam or hot water heating system, air conditioning systems, or water heaters damage from artificially generated electricity. volcanic eruption catastrophic ground cover collapse (not sinkhole) Exclusions A homeowners policy does not provide coverage for the following perils loss due to flood, or water that backs up through sewers loss to building by earthquake, aftershocks and mud slides loss by enforcement law or ordinance regulating construction, repair or demolition, or zoning loss due to power interruption when the interruption takes place off the residence property loss due to neglect of the insured to save and preserve property following a loss war and nuclear perils intentional loss. sinkhole Limits of liability For basic homeowners policies, a specific minimum amount of coverage is required for each of the major property coverages, based on the primary amount of insurance selected. Some of these excluded coverages may be purchased for an additional premium. Coverage A (Dwelling) = Typically set by Insurance Carrier at 100% of Replacement Cost Coverage B (Other Structures) = 10% of Coverage A limit Coverage C (Personal Property) = 50% of Coverage A limit Coverage D (Loss of use) = 20% of Coverage A limit. For example, if your home is insured for $100,000 under Coverage A: Coverage B liability limit is $10,000 Coverage C is $50,000 Coverage D is $20,000. Deductibles With a homeowners policy, a deductible applies to the property portion of the policy. A deductible is the amount you would have to pay out of your own pocket before the insurance coverage kicks in. Typical deductibles are $500 or higher and some policies have several deductibles. Florida homeowners policies also have a Calendar-Year Hurricane Deductible. The hurricane deductible will only apply once per calendar year and is stated as a \u201cpercentage\u201d of Coverage A. This means if you have one hurricane loss, your Calendar-Year Hurricane Deductible will be applied. However, if you have losses from subsequent hurricanes during the same calendar year, the deductible for the additional hurricane losses will be the greater of: The remaining amount of the \u201cHurricane Deductible\u201d (if not exhausted by the original loss), or The \u201cAll Other Perils Insured Against\u201d Deductible. Typically the higher the deductible you select, the lower your premium payment is Optional coverages There are a number of optional coverages (also called endorsements) which enhance your basic homeowners policy either by adding or removing certain coverages. Some of the more common add-on coverages include: Broadened coverage for contents: provides \u201call-risk\u201d protection for your possessions. This means that your personal property is covered in most situations, regardless of the cause of loss. Personal Articles Floater: provides specific amounts and worldwide protection for special property such as jewelry, silverware, fine art, furs, cameras, firearms, musical instruments, and home computers for an extended variety of losses Sinkhole: Provides coverage for loss caused by a \u201csinkhole\u201d as defined by Florida law. Personal property exclusions and limits of coverage Water back up of sewers or drains: you\u2019re covered for a specific dollar amount if water backs up through a sewer or drain, or overflows from a sump pump. Contents replacement cost coverage: after a loss, you would be paid based on the cost to buy new\u2026with no deduction for depreciation\u2026subject to your policy limits and deductible. Special limits apply to certain items such as jewelry, watches and furs. Personal Property exclusions and limits of coverage Certain classes of property are specifically excluded from coverage because<\/p>\n","protected":false},"author":2,"featured_media":4652,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_yoast_wpseo_title":"","_yoast_wpseo_metadesc":"Homeowners insurance is designed to bring your home and possessions back to the same condition they were in before a loss occurred","site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"_metasync_otto_title":"","_metasync_otto_description":"","rank_math_title":"","rank_math_description":"","footnotes":""},"categories":[4],"tags":[],"class_list":["post-4951","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-swfl-insurance"],"acf":[],"yoast_head":"\n
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