Miramar, Florida's motto is "Beauty and Progress," a fitting name for a beautiful city that is home to a diverse population, with residents from Jamaica, Columbia, Cuba, and more.
But the area also has a higher than average cost of living, which also includes insurance rates. Homeowners in Florida pay more for their homeowners insurance than the majority of the nation, with average rates around $980 a year. Florida is considered a high-risk state, with 80% of residents living or working along the coastline. This makes homes and businesses susceptible to hurricanes, hail, and wind and water damage.
Miramar Insurance Basics
Because purchasing homeowner insurance can be confusing, it's important to understand a few of the basics that make Florida unique in terms of insurance coverage, including what is and isn't included in a basic policy and what you need to keep your home and belongings safe.
- Flood insurance is not included. Florida residents who experienced the devastating effects of Hurricane Katrina received a rude awakening when they discovered that water damage from flooding was not covered in their homeowner policies. That's because FEMA regulates flood insurance and it must be purchased separately. Make sure you include flood insurance in your Miramar insurance quotes. Many Floridians took note; after hurricanes Ike and Katrina, over 40% of flood insurance policies are now held in Florida.
- Hurricane insurance is not included. Like flood insurance, a basic HO-3 policy does not cover hurricane damage. Even though it covers wind and hail damage, most policies have exclusions for wind, water, and hail damage as a result of a hurricane. Make sure you understand your policy, and include hurricane insurance in your Miramar insurance quotes.
- Homeowner insurance does not include your belongings. Unless you purchase an HO-5 policy, which includes coverage from perils to your home and its contents, your homeowner policy does not cover damage to the contents of your home. This includes everything from appliances and electronics to furniture and clothing. In order to make sure your belongings are covered, you should upgrade to an HO-5 policy or purchase separate contents insurance.
Comparing Your Miramar Insurance Quotes
If this seems a little overwhelming, don't fret --a site like NetQuote.com can provide you with all the information you need to make an informed decision on the types of homeowner insurance you need in Florida. You can also get Miramar insurance quotes for free, then compare rates to ensure you are getting the best deal possible on your homeowner insurance.