{"id":672,"date":"2015-02-10T06:30:40","date_gmt":"2015-02-10T06:30:40","guid":{"rendered":"https:\/\/pablobeach.shapiroinsurancegroup.com\/?p=672"},"modified":"2020-10-23T12:56:27","modified_gmt":"2020-10-23T12:56:27","slug":"4-vital-tips-buying-homeowners-insurance-florida","status":"publish","type":"post","link":"https:\/\/pablobeach.shapiroinsurancegroup.com\/4-vital-tips-buying-homeowners-insurance-florida\/","title":{"rendered":"4 Vital Tips for Buying Homeowners Insurance in Florida"},"content":{"rendered":"

Buying a homeowners policy may seem straightforward until you experience the first damage to your home and realize your policy doesn\u2019t provide coverage. If damage is done to your home, this policy makes or breaks you. Here are four vital tips to know before buying homeowners policy in Florida.<\/span><\/span><\/p>\n

Compare Coverage<\/strong><\/h2>\n

Insurance companies do not offer similar policies. The content and pricing of a homeowner\u2019s insurance policy is different for every insurance company. Before purchasing a policy, it is paramount you shop around for your best coverage for your specific needs. With some companies, you are required to purchase additional insurance, like mold insurance (which, let\u2019s be honest is everywhere in the Sunshine State!). Don\u2019t just look at the price and pick the rock bottom. Ensure you go for one with enough coverage and priced to fit your respective budget.<\/p>\n

Escrow Your Premium With Mortgage Payments<\/strong><\/h2>\n

Many homeowners carry a mortgage<\/a>. One great way to manage the premiums for your policy is to add it to your regular mortgage payment. This simply means your lender takes over the duty of paying your monthly insurance payments. This kind of account is referred to as an escrow account. Most lenders opt for this account because it guarantees you are paying your premiums and thus, the investment they made in you is protected. With most insurance providers, you are required to meet the costs for the closing year.<\/p>\n

Adequate Coverage<\/strong><\/h2>\n

The most vital item you should check is the level of coverage. Homeowners insurance comes in different levels with each level covering different items. The most common levels of homeowners insurance are levels HO-2 and HO-3.<\/p>\n

HO-2 is referred to as the \u201cstandard\u201d level. It is the most common and it covers 16 named perils. It is an upgrade of the \u201cbasic\u201d HO-1, which covers 10 risks.\u00a0 However, this policy doesn\u2019t cover everything in your house.<\/p>\n

HO-3 is a more comprehensive upgrade of HO-2. It covers all perils that can happen to your home apart from a named list of perils such as earth movement, flood, mold, and military action\/war, which are not covered.\u00a0\u00a0But you live in Florida, so might need both flood and mold, so here is a little bit more on each:<\/p>\n