Frequently Asked Questions

Yes, a standard Renter's Insurance policy will cover your personal belongings in the event of water loss.

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Although Renter Insurance is not required by law, many landlords do require renters’ coverage prior to occupying the space.  This is done to protect your belongings in the event of a loss.

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Unfortunately, no, as a standard homeowners policy does not provide coverage for rising water events. Storm surges, overflowing lakes, rivers, and canals are all events covered by a flood policy. In most instances, a good Florida agent will recommend both a homeowners and flood policy to protect your home and finances.

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No, you are not required to have a flood policy if your home is not in a flood zone (unless required by the lender). However, the State of Florida is very prone to flood events, as it sits at sea level in most areas.

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No, although Motorcycle Insurance is not required in Florida it is highly recommended.  Florida’s roadways are heavily traveled and coverage is a must for your bike and body in the event of an accident

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The main benefits of Commercial Insurance are:

• Adds business credibility
• Protects the company assets, employees, and its owners
• Protects the company from lawsuits
• Places the business in a favorable position when negotiating

Commercial property insurance protects your company's physical assets from fire, explosions, burst pipes, storms, theft, and vandalism.

The minimum required by some states, lenders, and marinas is liability insurance which can vary in coverage amounts.

If your watercraft is used as collateral by a bank or lending institution, they will require you hold a boat policy to protect the craft in the event of loss.

Condo insurance provides coverage for your condominium unit, personal items, liability, and additional living expenses in the event your condo is damaged by a covered peril. The condominium’s master policy should be reviewed to ensure proper coverage.

The State of Florida does not require Condominium (HO6) coverage to be maintained by a homeowner; however, a lender may require the coverage to protect the bank's asset until it is paid in full.

Individuals with expensive jewelry, watches, collectibles, cars, and boats are most often the ones requiring umbrella coverage.

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Umbrella insurance or “excess insurance”, is a form of liability insurance in addition to your existing policies which provides coverage for things not included under those policies. Additionally, umbrella insurance covers incidents such as damage to another’s property, lawsuits, personal liability, and personal injury.

The State of Florida requires any vehicle with a current Florida registration to be insured with PIP and PDL insurance at the time of vehicle registration with:

• Minimum of $10,000 in PIP (Personal Injury Protection)\
• Minimum of $10,000 in PDL. (Property Damage Liability Protection)

Although BIL (Bodily Injury Insurance) insurance is not required it is highly recommended in Florida, as it protects you in the event your negligence causes someone to be injured or killed in an accident.

Yes, Florida law requires all vehicle owners have auto insurance – even if the vehicle is paid in full. Individuals do have the option to exclude physical damage coverage if the vehicle is owned outright.

On a homeowners policy, replacement cost refers to the amount of money it would cost to rebuild a home or structure (this may or may not include demolition – reference the policy purchased). This factor is often higher than the market value of the home and used by homeowners carriers to determine the limits of a homeowners policy.

Homeowners coverage is determined on building cost, not market value or sales price. What determines the amount of coverage you will need is the cost to rebuild a home in the event of a total loss. Factors such as construction cost, materials, labor rates, location, and the square footage of the structure factor into how much coverage you will require.

The majority of homes purchased with the assistance of a lender or mortgage company will require homeowners coverage. Lenders will typically require borrowers to hold a homeowners policy to protect their assets/interest until the mortgage or loan is completely satisfied. Customers without a mortgage are recommended to hold a homeowners policy to protect their property from lightning, fire, theft, vandalism, windstorm, or hail loss which may result in thousands of dollars in unexpected repairs.