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Building a Home? Here’s What You Need to Know to Get Home Insurance in Florida

Building a home is an exciting time that’s also filled with many big decisions. One key decision you will need to make is finding the right amount of home insurance coverage to meet your needs. Getting home insurance coverage is a necessity if you are working with a lender, but it’s also important even if you are buying a home without a mortgage. Insurance for your home protects you from a wide range of situations while also making it much easier for you to sleep at night.

Here are some tips to remember to help you find home insurance in Florida.

Begin the Process Early
Waiting until the very last minute to search for house insurance is never a wise decision. Staying proactive by looking at different insurance providers well in advance can save you a lot of stress. Working with an insurance agency is especially beneficial, as these professionals will compare all of the top home insurance providers to help you find the best insurance to meet your needs while staying within your budget. Typically, it’s recommended to begin looking for insurance for your home at least 30 days or longer before the closing process.

Compare Your Options
Homeowners often make the mistake of immediately choosing an insurance provider without comparing all of their different options. Taking the time to compare multiple insurance providers is essential in helping you find affordable coverage that best matches your needs. An insurance agency can take care of these duties for you, which can save you a significant amount of time. You can focus on other aspects of the home buying process while letting an agency find the best insurance available.

Create an Inventory List
Understanding how much personal property coverage you will need isn’t easy without creating a list. Taking the time to create a list beforehand is essential in helping you understand the value of your items. A home inventory list should include all of your clothes, furniture, electronics, books, jewelry, decorations, and other items. Creating a detailed list will also expedite the insurance claims process. Keeping your list up to date is also important to ensure you have plenty of personal property coverage for your home.

Understand the Details of Your Coverage
Knowing the details of your home insurance policy is critical before you make any decisions. Not all policies are equal, as some offer much more coverage compared to other options, but they are also more expensive. An insurance agency can work with you in discussing the details of a policy to ensure it best meets your needs. You can also reach out to these insurance professionals at any time if you ever have questions about your policy.

Don’t Always Go for the Cheapest Option
Many people make the mistake of choosing the cheapest home insurance available. Unfortunately, choosing cheaper insurance for your house can cost you more money in the long term due to it not providing adequate coverage. Going over the details of your policy with an insurance agent is key to making sure you are well-protected at all times. On the other hand, a lack of coverage can force you to unexpectedly pay out of pocket for repairs.

Consider Additional Coverage
Sometimes you will need to consider additional insurance coverage for your home. Discussing all of your options with an agency is helpful in finding the right amount of coverage. For example, you may want to consider additional coverage for unattached structures, personal property, loss of use, or flood insurance. Obtaining more insurance coverage for your home will help give you an added level of protection for a wide range of situations.

House Insurance Doesn’t Cover Flood Damages
New homeowners often assume that home insurance automatically covers flooding. However, you will need to buy a separate policy to cover flood damage to your home. Getting flood insurance is especially important in Florida due to the high risk of flooding. Even if you don’t live in a high-risk area, getting flood insurance is still recommended. An insurance agency can work on your behalf in obtaining flood insurance to ensure you are well-prepared for these natural disasters.

Be Aware of Home Insurance Fraud
Home insurance fraud continues to be a significant problem in Florida. Assignment of Benefits (AOB) fraud often accounts for a large amount of this fraud, as it involves a contractor billing your insurance provider an excessive amount of money for repairs. However, it’s critical to reach out to your insurance agent as soon as possible if you notice any damage to your home. You should avoid signing an AOB form or allowing any contractors to work on your house without getting approval from your insurance provider. 

Look at Ways to Save Money
Homeowners can often save a lot of money on their insurance policy in a variety of ways. Raising the deductible is an easy way to lower your insurance costs each year, but you will need to be prepared to pay the additional costs if you ever file on your insurance. Comparing several insurance providers is also key to saving you money. Many times you can lower the cost of home insurance by combining your home and auto policies together with the same insurance provider. Investing in ways to further improve home security can also lower the cost of insurance.

Your Home Insurance is Meant for Big Losses
First-time homeowners can sometimes be tempted to file a minor claim. However, these claims can eventually add up and cause an insurance provider to raise the premiums you pay each year. The safest option is to only make insurance claims for bigger problems, as home insurance is primarily designed to cover catastrophic losses. Asking questions to your insurance agency before you file a claim is always a good idea to help you determine the best course of action.

Review Your Policy Each Year
Another way to save money on your insurance policy is to review it each year. A yearly review of your insurance coverage will ensure you have proper coverage to meet your needs. For example, you may need to add more coverage to cover any items you didn’t have before, or you might want to scale back your coverage if you are looking to save money. You may even be eligible for new discounts. Reaching out to your insurance agency each year can help you find the most affordable coverage for your needs.

Don’t Be Afraid to Ask Questions
Buying insurance for your home can often be confusing, and it’s easy to make mistakes without even realizing it. Reaching out to your insurance agency is important if you ever have any questions. These insurance professionals are more than happy to answer all of your questions, whether you are looking to make changes to your policy or if you have any specific concerns. Keeping an open line of communication with your insurance agency will ensure everyone is on the same page together.

Reach Out to Wellcovered Insurance to Learn More About Home Insurance
Wellcovered Insurance is one of the top-rated insurance agencies in Florida that works with more than 30 insurance carriers throughout the nation. Our experienced team will help you find the best insurance available, as we invest in the latest technology in the industry to make it easy to compare numerous insurance providers.

We understand that the needs of each client are different, as we focus on providing the best customer experience. You can give us a call at any time or visit us at our office. Our team will give you an auto quote in 15 minutes or less, while it takes between one to two business days if you need a home quote.

You can also choose from a wide range of insurance options, whether you need house insurance, rental property, condo, flood, auto, boat, general liability, and much more.

We are also one of the most highly rated insurance agencies listed on Google Reviews. We are also active in the community, as we are a proud member of the DeLand Breakfast Rotary and the West Volusia Regional Chamber of Commerce.

Reach out to Wellcovered Insurance today to learn even more about home insurance!