Florida Homeowners Insurance: What Buyers Need to Know
Florida Homeowners Insurance: What Buyers Need to Know
Florida sunshine comes with a twist: hurricanes, flood zones, and rising insurance premiums.
If you’re buying a home in Florida, here’s what you need to know about protecting your investment.
Why Florida Insurance Costs More
Florida’s location makes it one of the most storm-prone states in the U.S.
That means insurance companies factor in:
- Hurricane risk
- Coastal flooding
- High replacement costs (due to building codes and demand)
This drives up premiums, especially for waterfront or older homes.
What Does Homeowners Insurance Cover?
A typical Florida policy includes:
- Dwelling coverage (damage to the home)
- Other structures (sheds, fences, garages)
- Personal property (your belongings)
- Liability protection (in case someone is injured on your property)
- Loss of use (if you need to live elsewhere during repairs)
But it may not include:
- Flood insurance (usually separate)
- Sinkhole coverage (optional in many policies)
- Sewer backup or mold protection
Do You Need Flood Insurance?
If the home is in a designated flood zone, yes. Lenders will require it.
Even if it’s not required, many Florida homeowners choose to get it anyway, especially in coastal or low-lying areas.
Flood insurance is available through:
- The National Flood Insurance Program (NFIP)
- Private insurers (sometimes cheaper and with more coverage)
How to Get the Right Policy
- Compare Quotes: Work with an independent broker who shops multiple carriers
- Understand Wind Mitigation: Roof straps, shutters, and other features may earn discounts
- Bundle Policies: Combine auto + home for potential savings
- Review Deductibles: Hurricane deductibles are usually separate and higher
What If You Can’t Find Coverage?
Some insurers have pulled out of Florida in recent years. If you can’t find private insurance:
- Try Citizens Property Insurance Corporation, Florida’s state-backed insurer of last resort
- Work with a local agent who understands evolving underwriting requirements
Final Word
Insurance isn’t just a closing requirement—it’s your long-term safety net.
📞 Call Michael Renick at 941.400.8735 to compare rates and pick the right Florida homeowners policy for your needs and budget.
How to Understand a Florida Home Inspection
📣 Let’s Talk Strategy
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- 📞 Call Mike: 941.400.8735
- 📍 Explore our blog series: Questions Buyers Are Asking
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- 🔎 Start your property search: Search.TeamRenick.com
