There are three main types of home insurance policies. These are:
Dwelling coverage is an insurance that protects the home itself, which includes the floors, walls, ceilings, as well as built-in appliances. It also covers rebuilding or repairing your home if damage occurs from certain qualifying events such as theft, vandalism, fire, or severe wind.
Personal property coverage covers the cost of any possessions in your home. For instance, if personal items such as jewelry, clothes, and furniture get damaged or destroyed by a qualifying event, the insurance will cover the cost of replacement.
Personal liability coverage protects homeowners from lawsuits against body injuries sustained in your home.
Other Optional Home Insurance Coverage
- Flood insurance
- Earthquake insurance
- Replacement cost plus
- Water backup of sewer
Does The Law Require Florida Homeowners To Have A Home Insurance?
The state of Florida does not require homeowners to get insurance when they purchase a home. However, if you opt to get a mortgage loan, your lender will most likely require you to have one.
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