2024 Florida Home Insurance Coverage Guide

Things to look for in your Florida Homeowners Insurance Policy

Getting home insurance can be confusing and daunting endeavor. Especially in the state of Florida, a high catastrophe state surrounded by water and currently embattled with a wave of litigation. Home insurance premiums on the rise.

In this review, we go over what is typically covered in your Florida home insurance policy. As always, we recommend you speak with a licensed agent to review your specific needs and risks. Feel free to inquire for a quote below or schedule a time to speak with us.

This guide will provide you an in depth review of the various types of Florida homeowners insurance policies, depending on the property type and occupancy status. These policies are provided by a wide range of insurance providers, as different homeowners insurance companies cater to different home types and geographic locations.

Guide Outline

• Coverage Sections
• Policy Types
• Covered Perils
• Home Insurance Companies
• Frequently Asked Questions

Florida homeowners insurance policies provided insurance coverage for six sections of insurance coverage.  A typical home policy form is broken down into the following six primary coverage sections.

Florida Homeowners Insurance Coverage Sections

Coverage A. Dwelling

Coverage B. Other Structures

Coverage C. Personal Property

Coverage D. Loss of Use

Coverage E. Personal Liability

Coverage F. Medical Payments

Let us review each of these lines of coverage individually and then we will summarize some key focus areas to review when getting your home insured properly. These are the coverages your standard home insurance policy will have.

Coverage A: Dwelling Coverage

Let’s start first with your Coverage A. This is your dwelling coverage and provides coverage for the actual home itself. It is important that the value of your Coverage A is at least in an amount equal to what it will cost to rebuild your home, otherwise knows as your replacement cost coverage.

It is better to have more coverage than less as you never want to be in a situation where your home is not able to be fully rebuilt or replaced. Mortgage lenders require homes are insured at a minimum to their replacement cost

Coverage B: Other Structures

This second section provides coverage for other structures on your property. Examples of these structures are fences, sheds, and detached garages. Typically this coverage is set at about 10% of your Coverage A: Dwelling Coverage. Example Coverage A $400,000 x 10% = $40,000.

Coverage C: Personal Property

This line of coverages provides for protection of your personal belongings. This can be described as what would fall out of your home if it was turned upside down and shaken. Think things like furniture, electronics, toys, clothes and tools. You are able to purchase additional coverage if you need more protection for your personal property.

Coverage D: Loss of Use

This section provides for reimbursement for additional living expenses if a covered peril does damage your home to an extent requiring you to temporarily move out of it. This may be applied to a hotel or rental home in such a situation. There is typically a coverage limit attached for this in terms of time and cost.

Coverage E: Liability Coverage

This coverage provides for medical bills and legal fees if someone happens to be injured on your property or in the case you are found liable, ie your dog bites someone. If you happen to have a pool or trampoline, you may want to consider increasing your liability coverage for peace of mind.

Coverage F: Medical Payments Coverage

This section covers against payments for minor medical bills to those injured on your property. It is important to know that this applies regardless if the injury was your fault or not. The typical coverage amount is $5,000 per claim.‍

Homeowners Insurance Policy Types

HO-1: Most Limited

HO-2: Slightly Better than HO-1

HO-3: Most common

HO-4: Renters

HO-5: Second most common type of homeowners

HO-6: Condo Owners

HO-7: Mobile or Manufactured Homes

HO-8: Older or Higher-Risk Homes

Covered Perils

• Lightning
• Fire and Smoke
• Windstorms and Hail
• Explosion
• Vandalism and Malicious Mischief
• Damage from Car, Vehicle or Aircraft
• Theft
• Falling Objects
• Weight of Ice, Snow, or Sleet
• Water Damage

Frequently Asked Questions

What is Florida homeowners insurance for?

In the event of a covered loss, your homeowners insurance company should pay to help repair and rebuild your home and replace your lost or damaged property.

Am I required to have home insurance?

Unlike car insurance or auto insurance, you are not required by law to have home insurance. States mandate carrying car insurance in order to operate on their roads. Check your specific state guidelines and minimums. Home insurance on the other hand is not required or mandated by the state or federal laws. It is your mortgage provider that will require homeowners insurance.

What doesn't my homeowners insurance cover?

Typical exclusions include things like earthquakes, sinkholes, nuclear war and floods. Flood insurance needs to be purchased separately through the national flood insurance program.

Why is the annual premium for my home insurance so high?

Florida residents in particular ask this question a lot. A variety of other rating factors contribute to the overall cost of a policy. This includes wind mitigation features, claims history, natural disasters common to the Sunshine state and more.

What discounts are available?

Discounts help reduce your overall insurance costs. Just as an in ground swimming pool will increase the risk of loss and maybe your insurance premium, other features of a home can reduce your rate. This includes things like hurricane proof windows, gated community or a burglar alarm.

How do I make sure not to underinsure my home?

Instead of jumping at the cheapest homeowners insurance quote, it is important to err on the side of caution when insuring your home. You don't want to be left coming out of pocket in the event of loss.

What To Know About Your Home Insurance Policy

#1: Does Your Florida Homeowners Insurance Include Flood Coverage?

Many people don't realize that they have homeowners insurance limits when it comes to flood insurance coverage. This means in your standard homeowners insurance policy flood damage will not be covered. Typically, flood coverage is an add-on. That means you'll need to request flood protection from your insurance company and agree to the sometimes additional charge for flood protection to be included in your homeowners insurance policy.

It's always a good idea to verify flood insurance coverage and your need for flood coverage. If you live in an area of Florida where flooding is possible and where flood damage may be expensive to repair/replace (and in many areas, floods are possible), it may be wise to invest in flood coverage for your homeowners insurance in Florida.

#2: What Are the Limitations on Your Claims?

Many home insurance policies have a specific dollar limit on specific items. For example, you may be capped at $1,000 worth of jewelry. That means if you own valuables that are over and above this limit and need to file a claim for it, your insurance company may only give you $1,000.

If you have highly valuable belongings, including electronics, collector's items, or jewelry, it's best to alert your home insurance agent of this when purchasing your insurance policy. Then, consider an add-on or supplemental insurance policy to cover those items. That gives you ample protection for some of your biggest assets.

#3: Are You Getting Actual Cash Value for Your Belongings?

If an event occurs and you lose your assets covered under your homeowners insurance policy, you may expect to receive money from your insurance company. However, how much you receive depends on multiple factors, including the type of home insurance coverage you have. If you have actual cash value policies, that means you'll receive the current value of those items. That takes into account the cost to replace the item or original cost but deducts the depreciation from it.

Let's say you have a TV that's worth $800. You bought it several years ago. The homeowners insurance policy may only provide you with $500 because the TV is older. It is wise to review your home insurance policy and make sure that your home insurance is covering everything you want it to cover.

#4: Do You Have Enough Insurance to Cover All of Your Belongings?

Sometimes, Florida's homeowners insurance policies may not have enough coverage, especially for the contents of the home. If your home is destroyed in a fire, for example, you'll need money to rebuild it, live somewhere else while that happens, and money to replace all of your losses.

However, many homeowners insurance policies have a cap on how much they provide overall. This is typically broken down into various types of home insurance coverage.

For example, coverage A typically includes the structure itself. You want to be sure your homeowners insurance policy has enough money to cover the rebuilding of the property. That's typically more than just the market price for your home since materials and labor can add up.

Coverage B may include the contents of your home. Do you have a list of what you own and some way to track the value of it? It may help to record a video that allows you to create a list or home inventory of your belongings. That may help in the event of a large-scale disaster.

#5: Does Your Homeowners Insurance Offer Adequate Liability Protection?

Many people don't realize their homeowners insurance policy has liability coverage. That means you may have financial support if you have an accident at your home involving someone who does not live there.

For example, If your dog bites the neighbor, you may have liability coverage to help with their medical bills and other losses. If you have an uninsured contractor do work on your home, and their employee falls and gets hurt, your homeowners insurance policy may help cover their medical needs.

You may want to verify how much liability insurance you have to ensure you have the best homeowners insurance for your needs. It is always a good idea to review your liability coverage in case your homeowners insurance policy does not cover everything you would like it to.

#6: How Much Coverage Do You Have for Loss of Use?

In the event of a significant fire or other loss, you may not be able to live in your home. Take a look at your policy. Does it offer enough home insurance coverage in the number of months it will cover your need to live somewhere else? Consider that an average house fire may take a year or more to rebuild.

The more you know about your homeowners insurance, the better. It's a good idea to have a conversation with a homeowners insurance agent to ensure you have the best homeowners insurance coverage. That may help you have peace of mind as you work to protect your biggest investment.

Wrapping up

We hope this review helps you identify the foundational lines of coverage for your homeowners insurance in Florida. It is important to remember that every home is different and your individual risks and situation will vary.

We recommend you speak to a licensed insurance agent familiar with your  If you’d like a complimentary review of your current coverages or would like to discuss shopping around for home insurance in Florida, a licensed insurance professional at Worth Insurance is ready and able to help.