Homeowners Insurance
Your home is more than just a place to live. It’s where memories are made and the things that matter most are protected. At It Matters Insurance, Inc., we help Florida homeowners explore insurance options designed to protect their homes, personal belongings, and financial security.
From everyday risks such as fire, theft, and certain types of water damage to Florida’s unique hurricane and windstorm exposures, understanding your homeowners insurance coverage is important.
Whether you’re buying your first home, renewing your existing policy, or comparing coverage options, we’re here to help you find protection that fits your needs and budget.
The right homeowners insurance coverage matters. We’re here to help you understand your options and make informed decisions with confidence.
What Does Homeowners Insurance Cover?
Homeowners insurance helps protect your home, personal belongings, and financial security against covered losses. Depending on your policy, coverage may include damage from fire, theft, certain types of water damage, windstorms, and other covered events.
Every Florida home is different. We’ll help you explore available coverage options, understand policy limits and deductibles, and choose protection that fits your needs and budget.
Coverage That Matters Most
Is homeowners insurance required in Florida?
Florida law generally does not require homeowners to carry homeowners insurance. However, if you have a mortgage, your lender will typically require you to maintain coverage to protect the property.
Even if you own your home outright, homeowners insurance can help protect you financially against covered damage, theft, and liability claims.
Remember that standard homeowners insurance generally does not cover flooding. Separate flood insurance may be needed, and certain lenders require it for properties in designated high-risk flood areas.
What is the difference between dwelling coverage and market value?
Dwelling Coverage (Coverage A)
Dwelling coverage helps pay to repair or rebuild your home’s structure after a covered loss, up to the applicable policy limits.
The coverage amount is generally based on the estimated cost to rebuild your home using current construction materials and labor.
Market Value
Market value is the amount your property might sell for in the real estate market. It can include the value of the land, location, and buyer demand.
Example:
Your home might have a market value of $400,000, but an estimated rebuilding cost of $320,000.
These amounts are different because homeowners insurance generally insures the structure, not the land.
Important: Review your dwelling coverage amount regularly. Actual claim payments depend on policy terms, deductibles, limits, and any applicable replacement cost provisions.
How do hurricane deductibles work in Florida?
A hurricane deductible is the amount you are responsible for paying toward covered hurricane damage before your insurance pays the remaining eligible costs.
In Florida, hurricane deductibles are often calculated as a percentage of your home’s insured dwelling value (Coverage A), rather than a fixed dollar amount.
Example:
If your home is insured for $300,000 under Coverage A:
- 2% hurricane deductible: $6,000
- 5% hurricane deductible: $15,000
If you have a 2% hurricane deductible and experience $20,000 in covered hurricane damage, your insurance may pay $14,000, assuming no other limits or adjustments apply.
Important things to know:
- Hurricane deductibles generally apply when a storm meets the policy’s hurricane deductible trigger.
- Florida hurricane deductibles generally apply on an annual calendar-year basis, subject to statutory requirements and policy terms.
- Damage caused by flooding or storm surge is generally excluded from standard homeowners insurance and requires separate flood coverage.
- Your regular deductible may apply to certain losses that do not qualify as hurricane damage.
Always review your policy’s declarations page and deductible provisions to understand your financial responsibility.
What does a standard homeowners insurance policy cover?
A standard homeowners insurance policy typically includes several types of protection, depending on the policy’s terms, limits, and exclusions.
1. Dwelling Coverage (Coverage A)
Helps pay to repair or rebuild your home’s structure after a covered loss, such as fire or certain windstorm damage.
2. Other Structures (Coverage B)
Helps protect structures on your property that are separate from your home, such as detached garages, sheds, and fences.
3. Personal Property (Coverage C)
Helps cover belongings such as furniture, clothing, appliances, and electronics if they are damaged or stolen due to a covered event.
4. Loss of Use (Coverage D)
May help pay for additional living expenses, such as temporary housing, if a covered loss makes your home uninhabitable.
5. Personal Liability (Coverage E)
May help cover certain legal expenses, settlements, or judgments if you’re legally responsible for bodily injury or property damage to others.
6. Medical Payments to Others (Coverage F)
May help pay limited medical expenses if a guest is accidentally injured on your property, regardless of fault, subject to policy conditions.
Important for Florida homeowners: Standard homeowners policies generally exclude flood damage. Windstorm and hurricane coverage can also vary by policy, including separate deductibles or exclusions.
Always review your policy to understand what is covered and what is excluded.
Does homeowners insurance cover flooding in Florida?
Standard homeowners insurance policies generally do not cover flooding caused by rising water, storm surge, overflowing bodies of water, or heavy rain that accumulates on the ground and enters your home.
Homeowners Insurance
May cover certain types of sudden and accidental water damage, such as a burst pipe, depending on the policy’s terms, exclusions, and limitations.
Flood Insurance
Helps protect against covered flood damage to your home and belongings. Flood insurance may be available through the National Flood Insurance Program (NFIP) or private insurance companies.
Important things to know:
- Flooding can occur even if your property is outside a designated high-risk flood zone.
- Mortgage lenders may require flood insurance for certain properties in high-risk flood areas.
- Flood policies may have waiting periods before coverage begins, although exceptions can apply.
- Flood insurance coverage limits, deductibles, and exclusions vary by policy.
At It Matters Insurance, Inc., we can help you explore available flood insurance options alongside your homeowners coverage.
Remember: Hurricane wind damage and hurricane-related flooding are different types of losses. They may require separate insurance policies.
What is the difference between replacement cost and actual cash value?
Replacement Cost Value (RCV)
Replacement cost coverage generally helps pay the cost to repair or replace damaged property with materials or items of similar kind and quality, without deducting for depreciation, subject to your policy’s limits and conditions.
Actual Cash Value (ACV)
Actual cash value generally considers depreciation based on factors such as the property’s age, condition, and useful life.
Example:
Suppose your television originally cost $1,000 and is damaged by a covered event.
- Replacement Cost: A comparable new television costs $900. Your policy may cover the eligible replacement cost.
- Actual Cash Value: After depreciation, the television may be valued at $400.
The amounts you receive may differ depending on your coverage, deductible, and claim settlement provisions.
Important for Florida homeowners:
Some policies initially pay actual cash value and reimburse eligible depreciation after repairs or replacement are completed.
Roof claims may also have special settlement provisions, including actual cash value coverage or roof payment schedules.
Always review your policy to understand how your dwelling, roof, and personal belongings are valued after a covered loss.
How does the age of my roof affect homeowners insurance in Florida?
The age, condition, material, and installation quality of your roof can affect your homeowners insurance options and premiums in Florida.
Why does roof age matter?
Insurance companies evaluate roof condition because older roofs may be more vulnerable to damage from hurricanes, windstorms, and severe weather.
Will I need to replace my roof?
Not necessarily. Under Florida law, an authorized insurer generally cannot refuse to issue or renew a homeowners policy solely because a roof is less than 15 years old.
For roofs that are 15 years old or older, Florida law provides certain protections when an authorized inspector determines the roof has at least five years of useful life remaining. Other underwriting factors may still affect eligibility.
What is a wind mitigation inspection?
A wind mitigation inspection evaluates features that may help your home resist wind damage, such as roof shape, roof-to-wall connections, and roof deck attachment.
Qualifying features may help you receive discounts on your homeowners insurance premium.
Helpful tip: Keep records of roof replacements, permits, inspections, and repairs. These documents may help when shopping for coverage.
Roof eligibility and claim settlement provisions vary by insurer and policy.
What is a wind mitigation inspection, and can it lower my insurance premium?
A wind mitigation inspection evaluates features of your home that may help reduce damage from hurricanes and strong winds.
In Florida, certain wind-resistant construction features may qualify homeowners for insurance premium discounts.
What does the inspection look for?
- Roof shape: Hip roofs may provide better wind resistance than certain other roof designs.
- Roof-to-wall connections: Hurricane clips, straps, and other approved connections help secure the roof to the structure.
- Roof deck attachment: The type and spacing of fasteners can affect how well the roof withstands strong winds.
- Roof covering: The type of roof material and its compliance with applicable building codes may affect available credits.
- Opening protection: Qualifying hurricane shutters, impact-resistant windows, and protected doors may help reduce wind damage.
- Secondary water resistance: Certain roof underlayments or sealing methods may help prevent water intrusion if roof coverings are damaged.
How do I get a wind mitigation inspection?
A qualified inspector can evaluate your home and complete the appropriate Florida wind mitigation inspection form.
You can provide the completed report to your insurance agent so the insurer can determine which discounts apply.
Important: Discounts depend on the inspection findings, insurer, policy, and applicable rating rules. A wind mitigation inspection does not guarantee a lower premium.
At It Matters Insurance, Inc., we can help you understand which documented wind mitigation features may affect your homeowners insurance options.
What happens if my homeowners insurance is canceled or not renewed in Florida?
If your homeowners insurance company cancels or decides not to renew your policy, you should review the notice carefully and begin exploring replacement coverage as soon as possible.
What is the difference?
Cancellation: Your insurance company ends your policy before its scheduled expiration date.
Nonrenewal: Your insurance company decides not to continue your coverage when the current policy term ends.
Why might this happen?
Possible reasons include:
- Missed premium payments.
- Changes in the property’s condition or risk.
- Underwriting concerns identified during an inspection.
- An insurer reducing its exposure or withdrawing from certain markets.
- Other reasons permitted under Florida law.
What should I do?
- Review the notice and identify the effective date and stated reason.
- Contact your insurance agent to discuss your options.
- Correct eligible property issues or provide requested documentation when appropriate.
- Compare replacement insurance policies before your existing coverage ends.
- Confirm the effective date of your new policy to help avoid a gap in coverage.
Important for Florida homeowners:
Florida law establishes notice requirements and restrictions for insurer cancellations and nonrenewals. The applicable rules depend on the reason, policy circumstances, and statutory exceptions.
If you have a mortgage and your insurance lapses, your lender may purchase lender-placed insurance, which can be more expensive and may offer less protection for you.
At It Matters Insurance, Inc., we can help you explore available replacement coverage options before your policy expires.
What should I do if my home is damaged and I need to file an insurance claim?
If your home is damaged by a hurricane, fire, storm, or another unexpected event, taking the right steps can help protect your property and make the claims process easier.
1. Make safety your first priority.
Check for injuries and avoid unsafe areas. Contact emergency services if necessary. Do not enter your home if there is serious structural damage or another immediate danger.
2. Prevent further damage when safe.
Take reasonable steps to protect your property from additional damage, such as covering a damaged roof or stopping a water leak. Keep receipts for temporary repairs.
3. Document the damage.
Take photographs and videos before cleaning up or making permanent repairs, when safe and practical. Prepare a list of damaged belongings and keep supporting records.
4. Contact your insurance company promptly.
Report the loss using your insurer’s claims phone number, website, or mobile app. Follow the reporting requirements in your policy.
5. Review your coverage and deductible.
Understand your policy limits, exclusions, and applicable deductible. Hurricane damage may be subject to a separate percentage-based deductible.
6. Cooperate with the claims process.
Provide requested documentation, communicate with the adjuster, and keep records of conversations, estimates, and payments.
7. Review the settlement and complete repairs.
Carefully review the insurer’s claim decision. Ask questions about any deductions or uncovered items before proceeding with major repairs.
Important for Florida homeowners:
Florida law establishes deadlines for reporting certain property insurance claims and requirements for insurer claim handling. These rules can depend on the policy, type of loss, and circumstances.
Flood damage is generally excluded from standard homeowners insurance and may require a separate flood insurance claim.
At It Matters Insurance, Inc., we’re here to help you understand your policy and connect you with the appropriate claims resources.
What is the difference between homeowners insurance and a home warranty?
Homeowners Insurance
Homeowners insurance helps protect your home, personal belongings, and finances against covered losses, such as fire, theft, certain types of storm damage, and liability claims.
For example, if a covered fire damages your kitchen, your homeowners insurance may help pay for eligible repairs, subject to your policy’s deductible, limits, and conditions.
Home Warranty
A home warranty is generally a service contract that may help pay for certain repairs or replacements when covered home systems or appliances break down due to normal wear and tear.
Depending on the contract, this may include:
- Air conditioning and heating systems.
- Plumbing and electrical systems.
- Refrigerators, ovens, and dishwashers.
Home warranties typically have service fees, coverage limits, and exclusions.
Example:
If your air conditioner stops working because of normal mechanical wear, a home warranty may help cover eligible repairs. A standard homeowners insurance policy generally would not cover that type of breakdown.
Important: Homeowners insurance and home warranties serve different purposes. A home warranty does not replace homeowners insurance, and neither automatically covers every type of damage or repair.
Always review the terms of your insurance policy or warranty contract to understand what protection is available.