What does Florida homeowners insurance cover?

If you are new to the homeowners game, then you may find that purchasing coverage can be quite tricky. The first step before diving in head first into shopping is to understand what will be covered by your Florida homeowners insurance. You will want to shop around for a policy that’s able to cover all of your needs, not just some of them.

It may come as a shock that your homeowners may not cover everything, like you think it does. There are a few exclusions that aren’t covered in a policy. First off, let’s discuss what is covered by a basic policy.

Homeowners insurance in Florida consists of these types of coverages: Dwelling, Other Structures, Personal Property, Loss of Use, Liability, Medical Payments. Let’s discuss each one individually so you can have a better understanding of what each does.

What’s covered by my FL homeowners policy?

Dwelling Coverage –This coverage will be able to protect the actual structure of your home. It will pay for any damages done to your home and any unattached structures, such as a shed. Other Structures are also considered as a garage or a deck.

Personal Property Coverage – This is simply coverage for all of your personal belongings in your home. These can be your electronics, furniture, clothing, and etc, in the event they are lost, damaged, or completely destroyed.

Loss of Use – This will be able to cover costs associated with additional living expenses if your home becomes uninhabitable due to a covered peril.

Liability Coverage – This will protect you financially if you are being sued and are found legally responsible for someone else’s injuries while they were on your property. This coverage will protect you financially. Without it, you are facing major costs.

 Medical Payments – This will cover your medical costs for someone who happens to become injured on your property. Medical payments coverage cannot be used for yourself.

Florida homeowners insurance will not provide coverage for everything. For instance, you will not be covered against sinkholes, flooding damages, windstorm damages from hurricanes, mold, and sewer backups just to name a few. If you think you need additional protection from these perils it is possible to purchase an add on to your policy.

Homeowner insurance in Florida can be quite tricky. However knowing what’s exactly covered is your first step to a great policy. Many people like to just dive on in and choose the first policy they are offered. Then once a disaster occurs they realize their coverage sucks and they’re stuck paying the costs. Florida is a risky storm prone state. Be safe and purchase a policy today.

How To Find Business Insurance in Florida

If you own and operate a business in FL, then you will need to purchase coverage. In fact, business insurance in Florida will help you protect all of your assets and yourself from financial disaster. Below we will discuss what is included in a policy.  

What does business insurance in Florida consist of?

A policy will usually consist of different coverages combined into one. A policy will protect your business from a number of perils. For instance this can include claims resulting from fires, theft, and other. Your company will also be protected from claims that stem from bodily injury and property damage liability.

Below lists different types of coverages when it comes to business insurance in Florida. Remember this is what’s covered in a typical policy, if you think you need to purchase more coverage, speak to an agent.  Some of the most common types of coverages for small business include the following.

Types of FL Business Insurance

  • General Liability Insurance – General liability insurance covers costs that are related to injuries that have occurred to visitors on your property.  Property damages are also covered.
  • Property Insurance – This will cover your business property. This includes your building, all of your equipment, inventory, and other things that may suffer from damages. Commercial property insurance can also help cover the costs of repairs or replacements when necessary.
  • Professional Liability Insurance– Professional liability will be able to help cover your legal costs. It provides coverage if you break the legal terms of a client’s contract, you misinterpret a client’s revenue cost, or if you miss a deadline.
  • Cyber Liability Insurance – This is a newly required coverage by the Florida Information Protection Act. This will protect you against cyber breaches and attacks.
  • Business Owners Policy – BOP can be purchased if your business is eligible. This will combine general liability and commercial property insurance at a lower rate. However, your business must be a low risk industry and you must have less than 100 employees.
  • Workers Compensation Insurance – Florida businesses must purchase workers compensation if they have more than 4 employees. This coverage will be able to pay for medical fees and lost wages caused by injuries that have occurred on the job.

It’s essential that you purchase business insurance in Florida from someone online so you are protected. To get started, you first need to understand how much coverage you need, then proceed to collect quotes. Now that you know some of the different coverage types, you can find the best policy for your needs.

Where Do I Find Florida Commercial Auto Insurance Online?

Obviously, there are different rules in Florida with regards to commercial auto insurance requirements. You can learn about this in more detail.  The same minimum coverage, $10, 000 x 2, property damage + personal injury coverage just isn’t going to cover things for those who operate large vehicles for businesses on a regular basis.  The state requires individuals to be able to demonstrate financial responsibility in this regard, with the exact costs of a policy being related to a number of factors.

Four Basic Factors Relating to Commercial Auto Insurance in Florida

First off, there are the distances which the driver(s) will typically drive.  This also includes every possible way the vehicle is being used as well. Anything that might be considered to influence or damage someone or something should be listed.  For example, if you have a large truck that does nothing more than deliver flowers around your metropolitan area, you’ll need a very different style of coverage vs. the person who works for an interstate hauling business.  Oftentimes business-related materials cannot be removed from a vehicle or might have an auto that only tradesmen use – all of these things matter. Likewise, there are special considerations to keep in mind if you’re going to be transporting additional passengers as well (i.e. – like a taxi service).

Then there’s the issue of who is actually driving the automobile(s).   Each individual’s driving record and personal history will likely affect pricing options, and this will begin to multiply quickly if you’re talking about a policy which insures a fleet of drivers and vehicles.  Of course, this will require investigation on the part of the policy holder(s) and even more research time.

Who actually owns the vehicle being insured is also of vital importance.  Regardless of who might be driving a commercial vehicle, who owns the thing is also of vital importance.  Because rates are often linked to personal data like driving history or even credit scores, owners with better standing ultimately stand to receive better discounts (as you’d expect).

Lastly, there’s the make / model of each automobile and number being insured to consider.  Just like with your conventional auto insurance policies, what makes / model your vehicle is and what condition it is in will also influence the cost(s) of your policy.  In most situations this means that newer autos and those with more recently added safety features will get the best commercial rates. Be sure to check out the specifics for your own Florida auto insurance requirements.

Why is FL Commercial Auto Insurance Important?

You must be in compliance with the law, but the correct insurance is needed to be sure that your business can remain up and running should an accident occur.  Moreover, one should consider who might be fronting the costs of dealing with an incident as well, the two biggest concerns being property damage and replacing a damaged fleet vehicle, for instance. However, by and large one’s thoughts should be in trying to make sure that (even in the event of an absolute disaster, perhaps resulting in the complete destruction of one or more vehicles) you can keep your business operating.  Fully understanding the value in Florida commercial auto insurance usually leads to a policy upgrade.