Miami Gardens Homeowners Insurance

Miami Gardens homeowners insurance is typically required in order to purchase a home in this area of Florida. Miami Gardens, FL, is in a very wet, humid area near the Everglades and Atlantic coastline. Because of this hurricanes, flooding, and tornadoes are common. These natural disasters can cause devastating damage to a home, but are not usually covered by a basic homeowners insurance plan.

If your home is damaged by a hurricane or flood it may be necessary to move into a temporary residence while it is repaired or rebuilt. It is important to consider the cost of doing this when selecting a deductible for your Miami Gardens homeowners insurance. Compare Florida house insurance quotes from several companies and check which agencies offer the option to add hurricane or flood provisions. This can prevent extra bills should storm damage occur.

Options to Consider

There are many things Miami Gardens homeowners can do to lower the cost of their monthly premiums. Merging health or auto insurance with your homeowners plan will often result in a discount. Ask your Miami Gardens homeowners insurance company if they offer combination plans at a lower price.

Because Miami Gardens, FL, is located in an area where tropical storms and flooding are more likely, it is not uncommon for companies to offer discounts for taking preventative measures around your home. Purchasing a reinforced roof or windows or elevating your electric panel will not only keep your family safe, but cut down the price of your Miami Gardens homeowners insurance.

The law in Florida states you must purchase Miami Gardens homeowners insurance in order to secure a mortgage. Because of this, many options and prices are available to choose from. The best way to ensure adequate coverage and an affordable rate is to take your time and read through all policies carefully when shopping for the best house insurance carrier.

Selecting an Insurance Policy

Most natural disasters including lightning strikes, wind, or hail are covered under an HO-3, or special form insurance. This plan will also cover incidents such as theft or vandalism that may befall your Miami Gardens home. It may not include natural disasters which are less common in this area, such as earthquakes, but extra provisions can be added should you want these covered.

A less expensive option is the HO-2 or broad form homeowners policy. This insurance plan works on a "named peril" basis. In other words, if the hazard is not specifically named in the contract, it will not be covered. Most homeowners agencies in Florida will allow you to add supplementary coverage should you want additional hazards included in your Miami Gardens homeowners insurance.

Do not choose a Miami Gardens homeowners insurance policy simply because it is most affordable. Inexpensive coverage may exclude provisions you need. Read through all quotes side by side and make note of what each offers and what extra protection would need to be purchased before making a selection. Be sure to ask questions if you are unsure about any policy descriptions.

When choosing a policy it is important to consider the replacement value of your home. Many homeowners mistake the market value of their home for the replacement value. The market value of a home only accounts for the resale value of the house and land. Replacement value considers the cost of materials such as lumber, bricks, and windows that would be required to rebuild a home should it be destroyed. These numbers fluctuate from year to year, so it is important to research these prices and update your policy often.

It is also important to value the contents of your Miami Gardens home before selecting a policy. If you have several items of high value at your residence, it may be necessary to choose an insurance policy with fewer limits on what can be replaced. Make a list of the entire contents of your home including any pricing or appraisal information and keep this in a secure location such as a strong box. This should be kept away from your residence so it will not be lost during a disaster. This early preparation can guarantee an accurate reimbursement later.

A loss of use policy may be a beneficial addition to your Miami Gardens homeowners insurance. This would cover the costs of moving and living elsewhere while your home is repaired. Staying in a motel or rental property can add significant cost to the process of recovering from a storm, but taking proper precautions can help ease the burden.

Selecting a Miami Gardens homeowners insurance policy may seem like an intimidating task, but it does not have to be. Comparing quotes from several companies which service Miami Gardens, FL, can help you get a grasp on what options are available. Careful preparation can guarantee your home will be protected without paying more than you need to.

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