Answers to Frequently Asked Questions
If my mortgage company pays for my insurance, why did I get a request for payment?
As the owner of the policy you will always receive a courtesy copy of notices sent to your mortgage company.
Why did my mortgage company say they have no record of my insurance?
If you changed mortgage companies in the past year, it is possible that we were not notified of the change.
What is meant by “This policy contains a separate deductible for hurricane losses, which might result in higher out-of-pocket expenses to you”?
Every property insurance policy in Florida has two separate deductibles, one for losses caused by hurricanes, and one for all other losses (called all peril or non-hurricane deductible). While the all peril deductible is usually $500 or $1000 (depending upon the company) the hurricane deductible on most company’s policies is a percentage of the dwelling coverage – usually 2%, but sometimes higher. (A house insured for $200,000 with a 2% deductible would have a $4000 hurricane deductible.) Some companies will allow a $500 hurricane deductible at a reasonable premium. The state of Florida requires that the notice above appear exactly that way on every homeowner policy as a protection to the consumer. To know your deductible read your Declaration Page.
Is my pool pump covered?
Yes, the pool pump and other permanently installed equipment used to service the pool are covered as a part of the dwelling.
Is my swimming pool covered?
Yes, the swimming pool is covered as a part of the dwelling. However, there are limitations to the coverage. Read your policy to know what is covered and what is excluded.
Are sinkholes covered?
Unless you chose to reject sinkhole coverage, you are covered. The coverage is for structural damage to your home. It does not cover cosmetic damage or land. Read the policy for full details of the coverage and limitations.
What is “Ordinance or Law Coverage” and do I need it?
Ordinance or Law coverage provides for additional coverage to pay for certain increased costs of construction incurred due to the enforcement of an ordinance or law.
EXAMPLE: Suppose your house has a kitchen fire. The insurance company will say, “No problem, we’ll take care of that.” The building inspector from the county comes by and says, “Wait a minute – electrical codes have changed since the house was built, and you will have to re-wire the entire house to bring it up to code in order to complete this repair.” The insurance company (if you do not have O/L coverage) would say, “The rest of the house was not damaged – it’s not our problem.” Ordinance or law coverage would fill that gap.
Whether or not you would choose to take this coverage, and at what level of coverage, might depend upon the age of your home – what building codes were in effect at the time of construction.
The state of Florida requires that this coverage be added to your policy at the highest available limit unless you specifically limit or reject it.
Am I covered for flooding?
Your hazard policy does not cover you for flooding. It is important to know the difference between flooding and water damage (which is covered if your house is less than 40 years old). A Flood is rising or standing water from outside the house that inundates your house and at least a part of two adjacent properties.
What is “Personal Property”?
Personal Property is contents. A good way to think of it is, if you could pick up the house and turn it sideways, everything that would fall out would be personal property. Personal Property also includes items normally found outside the house, such as lawn equipment, bicycles, etc.
My policy shows a limit of 0 for theft coverage. Am I covered for theft?
For Policy Type HO3
Theft of personal property is automatically included in the policy.
For Policy Type DP3
If your Declaration Page shows a charge for “Theft Coverage” then your personal property is covered for the peril of theft up to the limit shown for “Personal Property” or “Contents” on your Declaration Page.
What is covered in my policy?
To know what is covered in your policy, you must look at the coverages listed on the Declaration Page. For a full explanation of your coverages, please read your policy.
Does my policy cover everything?
No. No insurance policy covers everything. Your policy will explain what is covered, what is excluded, and what limits might apply.