Auto Insurance indemnifies a policy owner by paying a claim for damages caused by the insured vehicle as well as to the insured vehicle. Florida mandates that auto insurance be purchased to provide Personal Injury Protection and Property Damage. Most individuals choose to purchase the broader form of Liability that includes Bodily Injury, that coverage will pay in the unfortunate event you were to injure another party in an accident that was deemed to be your fault. It also protects you from lawsuits that may be filed against you. Uninsured Motorist is another very important coverage that you should be familiar with and need to discuss in length with your insurance advisor. The physical damage portion of the auto insurance policy will protect your vehicle and will usually carry a deductible. You should discuss with your agent the different coverages available to you and choose those that best meet your needs.
Homeowners Insurance covers one of our largest investments. It is considered a package product meaning it covers more than one thing. Dwelling Coverage is the building itself, the outside structure of your home and most of the other coverages then become a percentage of the dwelling amount. There is also Other Structures and that would be any out buildings or structures that are not attached to the main building. Personal Property covers your contents, such as clothing, furniture, dishes, etc. There are certain inside limits on collectibles, jewelry, cash, guns, etc. In recent years there have been more exclusions and mandated deductibles. It would be wise to always discuss all of the coverages with your independent agent to help find the perfect fit for your needs.
Flood Insurance has become a widely discussed coverage in the last few years, especially here in Florida. Some people do not realize that they may not be in a mandated flood area and could purchase flood insurance for pennies on the dollar. There have been so many reported areas that have never flooded in prior years that are now flooding. A typical Preferred Flood Premium could cost less than $34.00 per month for $250,000 on your home. It is wise to discuss this option with your agent to insure adequate protection for your home and family.