Are you truly protected, or just covered? Ensures your home is secure against every challenge, not just the obvious ones.
The Story: Your Home Deserves More Than a Standard Policy
The market in Florida is uniquely challenging. Skyrocketing construction costs, increased catastrophic weather events, and carrier instability mean that the policy that was adequate two years ago is almost certainly insufficient today. Every year, we see homeowners forced to settle for less coverage at a higher price because they simply accepted the renewal from their current provider.
We believe that stability and adequate protection are key. We don’t just shop the market for the cheapest initial quote; we find policies that protect the true replacement value of your home with carriers known for their claims stability.
The 3 Critical Homeowner Insurance Questions for Florida Residents
Question 1: Do you have Guaranteed Replacement Cost or just Actual Cash Value (ACV)?
This is the most crucial question for your dwelling coverage (Coverage A).Question 2: Is your deductible applied per year or per occurrence?
While your main “All Other Perils” deductible may be a simple dollar amount, Florida policies involve several specific deductibles that must be clarified:- Hurricane Deductible: This is separate and typically applies per storm. It is usually a percentage (e.g., 2% or 5%) of your dwelling coverage limit. A home insured for $\$400,000$ with a 5% hurricane deductible means you pay the first $\$20,000$ out of pocket for hurricane damage.
- AOP (All Other Perils) Deductible: Applied to non-wind/non-flood claims (fire, theft, etc.).
| Coverage Type | What It Means | Why It Matters in Florida |
|---|---|---|
| Actual Cash Value (ACV) | Pays the cost to repair or replace property minus depreciation for age and wear-and-tear. | If your 15-year-old roof is damaged, the policy only pays for its depreciated value, leaving you to pay the significant gap between that amount and the cost of a new roof. |
| Replacement Cost Value (RCV) | Pays the cost to repair or replace property with new materials of similar kind and quality, without deducting for depreciation. | This provides the funds necessary to rebuild/repair your home without a massive out-of-pocket expense. Most policies offer RCV for the dwelling, but check the fine print. |
| Guaranteed/Extended Replacement Cost | Pays for rebuilding costs that exceed your policy's stated limit, often by 25% or more. | Crucial in Florida due to volatile post-storm labor and material inflation (known as “demand surge”). If your home is insured for $300,000 but costs $380,000 to rebuild after a hurricane, this coverage is your saving grace. |
Question 3: What specific “silent gaps” (Endorsements) are missing?
Your standard HO-3 policy has mandated exclusions. A responsible policy requires adding endorsements (or riders) to cover specific regional or structural risks. Failing to add these is the most common reason for claim denial or underpayment.| Endorsement | What It Covers | Why You Need It |
|---|---|---|
| Water Backup and Sump Overflow | Damage caused by water backing up through sewers, drains, or an overflowing sump pump. | Standard policies exclude this. Heavy Florida rainfall frequently overwhelms municipal sewer/drain systems. |
| Ordinance or Law | The increased cost of rebuilding to current, stricter building codes (e.g., wind mitigation, elevation changes). | After an older home is severely damaged, Florida law mandates rebuilding to modern codes. This coverage is essential to pay for the upgrade cost that standard RCV does not cover. |
| Mold/Fungus Remediation | Provides a dedicated sub-limit of coverage for mold cleanup and remediation. | Standard policies heavily restrict mold coverage. Given Florida’s humidity, this is a necessary safeguard against extensive water damage claims. |
Don't let your insurance renewal be a blind act of faith. In a market as dynamic as Florida's, an annual policy review is non-negotiable.
Total Property Insurance is an independent brokerage. We guarantee an objective, multi-carrier review. We are not bound to a single insurance company; we work for you. This independence allows us to find you policies known for claims stability and comprehensive coverage, not just the lowest initial quote that may include crippling gaps.