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Owner-Occupied Homes Homeowners/Condominium Insurance: Owner-occupied Homeowners and Condominium insurance policies provide standard and optional features which offer a comprehensive package of protection for your home and possessions. Understanding these coverages and how they relate to your home and your lifestyle will help you to determine the real value of your insurance. Florida Family can insure almost any type of owner-occupied home, including an older home that has been satisfactorily updated and reflects pride of ownership. Click here for information about valuable policy discounts. Basic Coverage A standard Florida Family Homeowners or Condominium policy protects the insured dwelling and contents from a variety of perils such as:
NOTE: Some policies in coastal counties exclude the perils of wind and hail. A separate policy is available from the residual market in Florida to cover these perils in this case. The basic policy also provides coverage for: Other Structures - insures other buildings or structures, like a garage or guest house, located on the premises. This coverage also covers fences, walls satellite dishes or other structures detached from the main home. Additional Living Expenses or Rental Value - pays any necessary increase in living expenses for you to live somewhere else while your home is being repaired as the result of a covered loss, if required. If the dwelling is insured as rental property, then you would be reimbursed for any lost rental income. This provision is subject to co-insurance on some policy forms. Personal and Legal Liability - provides coverage for claims filed as a result of accidental injuries to others and unintended property damage for which you become legally responsible. Medical Payments - covers actual medical expenses for accidental injury to others caused by you regardless if you are legally liable. Optional Coverage A wide variety of optional coverages can be added to the standard policy. Three of the most popular are:Replacement Cost on Contents - replaces damaged or stolen household contents at today's retail prices regardless of their original cost to you. Special Personal Property Coverage - provides protection for household accidents such as paint spills to floors, walls or carpets. Scheduled Personal Property - provides stated amount coverage on an “all peril” basis for valuables. Click here for information about coverage available for renters.
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