homeowners insurance miami florida

Homeowners Insurance In Miami

As your largest investment, it's important to make sure you have the proper Homeowners insurance coverage. We'll help you choose between the available options so your Home Insurance provides the coverage you want at the lowest possible price.

Call FILER INSURANCE First!

305-270-2100

5 Reasons To Call Us For Maximum Savings

1. We'll shop the companies for the lowest possible rates.

We can place Homeowners Insurance with many different insurance companies allowing us to provide you with the best combination of coverage and cost.   We also specialize on high net worth accounts.  Please see our separate page for this.  The following are some of the companies that we can place coverage with:

  •     American International Group
  •     American Platinum
  •     Bankers Insurance Group
  •     Chubb Group
  •     Citizens Property Insurance
  •     Florida Family
  •     Olympus Insurance
  •     People's Trust
  •     Stillwater Insurance
  •     Universal Property & Casualty

2. We'll apply every possible discount.

Our experienced underwriters will make sure you get full credit for your home's wind mitigation features in addition to other discounts. Wind mitigation is extremely important in coastal areas like Miami.  These are just some of the home insurance discounts available:

  •     Wind Mitigation
  •     Hurricane Shutters
  •     Central Alarm
  •     Newer Homes
  •     Claim Free
  •     Good Credit Rating

3. We'll guide you through the process of securing your discounts.

Our agency underwriters have many years of experience guiding our clients through the process of obtaining the necessary inspections and completing the forms and applications that will secure the discounts you have earned. Anyone can quote discounts on Homeowners Insurance, but if the forms and inspections aren't done right, you won't receive the full credit on your premium.

4. We'll work with you to determine the right amount of coverage

Homes are insured for the cost to replace them in the event of a total loss. Our agency underwriters will work with you to obtain accurate information that will result in a fair calculation of what this cost would be. If the company is willing to offer a lower coverage limit on personal belongings, for example, we will extend that and any other cost saving options to you.  We can also provide Personal Umbrella Liability and Life Insurance.

5. We'll be here to help you with any claims you may have.

We know a claim is the "moment of truth" where we are called upon to deliver on our promises. We'll help you report your claim immediately, follow up to be sure an adjuster comes to see you and assist in any way possible until your home insurance claim has been paid in full.

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Where we offer home insurance

We offer home insurance quotes for Miami, Coral Gables, Kendall, Pinecrest, Cutler Bay, Palmetto BayHomestead and other South Florida communities.

What is Homeowners insurance?

Screened Home Pool Patio

Homeowners insurance is a package policy.  The Homeowners Insurance Policy is a form of property insurance that protects you from financial loss due to damage to your home, your personal belongings and certain structures on your property. It also provides you protection for liability claims and medical expenses that arise from non-residents for accidents that occur inside your home or anywhere on your property.

Damage caused by most disasters is covered but there are exceptions. The most significant are damage caused by floods, earthquakes and poor maintenance. You must buy two separate policies for flood and earthquake coverage. Maintenance-related problems are the homeowners' responsibility.

Why do you need Homeowners Insurance?

It is really all about protecting yourself financially if something unexpected happens to your home or possessions. That's important because chances are your home is likely one of your largest investments.

  • If your home is destroyed by fire or damaged by a natural disaster, you will need money to repair or replace it.
  • If a guest in your home is injured, liability protection and medical coverage help pay expenses.
  • If you are a victim of theft or vandalism, it can reimburse you for your loss or pay for repairs.
  • If you are still paying for your home, your lender will require insurance.

It is important to know that homeowners insurance is meant to cover unexpected damage, not routine maintenance. Ask your agent to talk about what is covered and be sure to read your policy so you know exactly what's included and what is not.

What Does Homeowners Insurance Cover?

Homeowners insurance covers the actual structure of your home and certain other things using 6 categories of coverage types. The coverage types, which are listed on your home insurance policy, are Coverage A, Coverage B, Coverage C, Coverage D, Coverage E and Coverage F. The following describes what each coverage type covers you for on your Homeowners policy:

Coverage A - Dwelling:

For homes where you own the entire structure, this covers any part of the physical structure that you live in, such as the roof, the walls, windows, doors, foundations and items that make up the physical structure of the house.  For condominium units where the structure is owned by an Association, Coverage A covers only the permanently installed items inside the bare concrete walls such as partition walls, cabinets, counters, and plumbing fixtures.  For those in rental apartments, Coverage A is not needed as only personal belongings are needed to be covered, which is done with a Tenant’s Homeowner policy providing only coverage C, which is described below.

Coverage B – Other Structures:

Here you will find coverage for “other structures” that are not connected to your home’s physical structure, such as a detached garage, any fences, a gazebo, an outdoor shed, some swimming pools and certain other things that might be built.

Coverage C – Personal Property:

This is what covers your contents (personal belongings) that you purchased to put inside your home. Anything that is not permanently attached to the physical structure is categorized as “contents”. Your contents are things such as furniture, appliances, electronics (stereos, televisions, computers, gaming consoles), clothing, artwork, rugs, window decorations, dishes, wine, spirits, sporting goods, toys, and various other things that you purchase to go inside your home.  Some items have special limits that apply to them and are not automatically covered for their full value.  This includes things like jewelry, watches, guns and certain other things.  To cover these in full, you must purchase a separate personal articles floater (PAF).

Coverage D – Loss of Use & Additional Living Expense

This is going to cover you for any additional living expenses that you incur when you have to temporarily move out of your house, apartment, condo, etc., and relocate to another living facility because something has made your home inhabitable due to a covered peril.   This is also known as Loss of Use.  Expenses that are incurred by the homeowner in order to continue their normal standard of living as much as possible will be covered. However, you must keep in mind that this coverage has a separate limit for what your insurance company will reimburse you for.  This is only to help you get by until you are able return to your home.

Examples of what is covered includes moving costs, hotel/motel/apartment fees, extra grocery/restaurant bills, storage fees, laundry expense, transportation/parking fees, pet boarding, etc.

Coverage E – Personal Liability:

This provides coverage for personal liability claims against the homeowner.  No matter how careful you are, anything can happen in your home or on your property that can result in a lawsuit against you.  Personal Liability coverage will pay on your behalf for any claims against you up to your limit of coverage.  You can be held personally liable if something on your property or in your home is claimed to have caused someone to sustain an injury or have resulted in damage their personal property,  There are limitations and exclusions which can differ between policies and insurance companies.

Coverage F – Medical Payments to Others

This is your coverage for medical payments to others when someone is injured in your home or on your property.  Even if you are not sued for any bodily damages, you may still be or feel obligated to assist them with any medical expenses that must be paid in order for them to recover from their injuries.  Your insurance company will make this payment on your behalf.

What Perils Are Covered In Homeowners Insurance?

There are three common Homeowners coverage forms.  Each is explained below.

HO-3 Special Form (Houses where you own the structure)
HO-4 Tenant’s (Renters Insurance)
HO-6 Unit Owners Form (Condominium Units)

 

HO3 – Special Form
This is the most common Homeowners insurance policy form.  Under an HO3 policy form, the structure of your home, other structures, your personal property, loss of use/additional living expense, personal liability and medical expenses for others are all covered up to a specific limit minus any deductibles that the home owner would have to pay.  The home structure (Coverage A) and other structures (Coverage B) will be insured at their replacement value and the personal property (Coverage C) will be insured at its Actual Cash Value (Replacement Value less depreciation).  However, you can purchase an endorsement, for just a little bit extra premium, that will provide coverage for your personal property at its replacement value.

When it comes to perils, the home structure (Coverage A) and other structures (Coverage B) are covered for risks of direct physical loss except for those perils that are excluded from coverage.  Your personal property (Coverage C) is covered only for the perils listed on the policy, In regards to the coverage for the home structure (Coverage A) and other structures (Coverage B) on a HO3 policy, the common exclusions to property coverage are the following.  Your polilcy may differ.

  • Ordinance or Law
  • Earth Movement
  • Water Damage from Flooding, Sewer Backups, or Water that seeps up from the ground
  • Power Failure
  • Neglect
  • War
  • Nuclear Hazard
  • Intentional Loss
  • Government Action
  • Theft to a dwelling under construction
  • Vandalism or Malicious Mischief (If the property is vacant more than 60 days)
  • Mold, Fungus, or Wet Rot (Except, if it resulted from an Accidental Discharge or Overflow of Water)
  • Wear and Tear
  • Mechanical Breakdown
  • Smog, Rust or Other Corrosion
  • Smoke from agricultural smudging and industrial operations
  • Discharge, Dispersal, Seepage of Pollutants
  • Settling, Shrinking, Bulging, or Expanding of parts of the structure like your foundation or walls
  • Birds, Vermin, Rodents, Insects
  • Animals owned by the insured

 

HO4 – Tenants (Renters Insurance)
This is a policy you purchase when you rent a home, an apartment, a condo, or anything where you are not purchasing the structure or the unit space of a condominium unit. You are just paying a monthly rent to live there. Therefore, there is no Coverage A because you don’t own the property and there is no Coverage B because you are not permitted to build any structures that would need to be insured.

However you will need Coverage C, which will cover your personal property.  Like the HO3, coverage is on an Actual Cash Value basis and can be extended to replacement cost for an additional charge.   When it comes to the perils for your Coverage C (personal property), your renters insurance will cover your personal property for the following 16 perils.

  • Fire or Lightning
  • Windstorm or Hail
  • Explosion
  • Riot or Civil Commotion
  • Aircraft
  • Vehicles
  • Smoke
  • Vandalism or Malicious Mischief
  • Theft
  • Falling Objects
  • Weight of Ice, Snow or Sleet
  • Accidental Discharge or Overflow of Water or Steam
  • Sudden and Accidental Tearing Apart, Cracking, Burning or Bulging
  • Freezing
  • Sudden and Accidental Damage from Artificially Generated Electrical Current
  • Volcanic Eruption

The HO-4 Tenants Form also provides Coverage D (Loss of Use & Additional Living Expense, Coverage E (Personal Liability) and Coverage F (Medical Payments to Others).

 

HO-6 Unit Owners Form (Condominium Units)
This is a policy you purchase if you live in a condominium unit where the condominium association owns the building structures and common grounds .   As a unit owner, you are responsible for what is inside the bare concrete walls, which can include partition walls, cabinets, fixtures and other built-in items.  In the Homeownwers HO-6 Unit Owners Form, these items are considered Additions and Alterations, which is Coverage A.

Your personal belongings are covered under Coverage C, the same as in the other Homeowners policy forms.  The will be insured for their Actual Cash Value (Replacement Value less depreciation).  However, you can purchase an endorsement, for just an additional premium, that will provide coverage for your personal property at its replacement value.  .   When it comes to the perils for your Coverage C (personal property), your policy will cover your personal property for the following 16 perils.

  • Fire or Lightning
  • Windstorm or Hail
  • Explosion
  • Riot or Civil Commotion
  • Aircraft
  • Vehicles
  • Smoke
  • Vandalism or Malicious Mischief
  • Theft
  • Falling Objects
  • Weight of Ice, Snow or Sleet
  • Accidental Discharge or Overflow of Water or Steam
  • Sudden and Accidental Tearing Apart, Cracking, Burning or Bulging
  • Freezing
  • Sudden and Accidental Damage from Artificially Generated Electrical Current
  • Volcanic Eruption

The Unit Owners Form also provides Coverage D (Loss of Use & Additional Living Expense, Coverage E (Personal Liability) and Coverage F (Medical Payments to Others).  Unique to the HO-6 Unit Owners Form is Loss Assessment Coverage.  In the event the Condominium Association does not have sufficient insurance to cover their obligations, they can assess each unit owner for their share of the shortfall.  Loss Assessment coverage covers this assessment and is usually available with a limit up to $10,000.  We always recommend purchasing the maximum amount of Loss Assessment Coverage available.