How much coverage do I need?
This is a popular question because in Florida some Insurers don’t give you an option for the dwelling coverage. If you have a mortgage you will need to maintain adequate coverage to at least pay off the loan if a disaster strikes. When you apply for homeowners’ insurance, the company will have a replacement cost calculator which tells them how much it would cost to rebuild the home in the event of a total loss. It is not unusual that the dwelling coverage quoted to be far in excess of your purchase price or the estimated sale value of the property. Keep in mind, that you may wish to purchase higher limits on your liability or medical payments coverage in addition to any optional coverages you may wish to purchase for a higher premium. Remember, your policy does not cover your land. Call for a free policy review
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