A Complete Guide to Florida Renters Insurance
Are you thinking of getting a Florida renters insurance policy for the first time? Well then, there are some things to take in consideration before talking to your insurance agent. Just because you are not the owner, of a flat or house, it does not mean that you have to miss the opportunity of protecting your belongings. Maybe you have decided to rent and not buying for whatever reason, either because you consider yourself very young or because you had an economic slowdown due to the current situation. However, despite everything, you do not want your belongings to be unprotected.
Tenants in South Florida want to insure their belongings because they are at risk of being damaged (stereo equipment, computers, clothing, furniture and small appliances) and is better to have them insured. The contents coverage in any typical Florida renters insurance policy, covers all these items and more, but that is not enough. The contents cover policy will cover all the belongings inside the apartment, but not the one left behind the policy contract.
The renters policy will not include appliances or furniture previously owned by the tenant. (Furnished apartment with appliances). In Florida, contents coverage in a renters insurance policy means to protect for the items you own.
While, in your rented home, any events could happen to harm your landlord’s property. For example, floods, leaks, and normal wear and tear are the landlord’s responsibility to be cover financially, but you might do something careless by accident and that could expose your landlord property.
For example, if the bathtub was running for hours and it overflows, damaging the floor, and the downstairs’ neighbor’s ceiling has damages from such an event. It would be considered your mistake, and; consequently, you would be legally responsible to pay for the damages. With a renters insurance liability coverage, there's options to help you pay your landlord for the damages without paying out of your pocket.
Loss of Use
There are several natural events that can occur which are entirely outside the renters power (a natural disaster). So if your apartment turn out to be uninhabitable, for example, a hurricane that causes structural damage to the entire building unit (specially in South Florida) then loss of use coverage will provide enough amount of money to pay for a temporary lodging after the disaster.
If someone gets hurt in your apartment, through no fault or neglect of your landlord, you could be found liable for paying their medical bills. Medical payments coverage in a renters policy will make these payments for you so that you do not have to pay out-of-pocket.
Deductibles and Limits
Before you purchase your Florida renters insurance policy, you have to select a deductible and a limit for the coverages you choose.
Your deductible is the amount of money that you must pay before the insurance company agency will step in and make payments. Choosing high deductible lessens the insurance company’s risk and will result in a lower insurance premium, meaning that you have more financial liability when things go wrong.
Depending on your initial arrangements, a Florida renters insurance policy will pay for each type of claim. If your limits are small, it will result in a less expensive policy since the insurance company will be guaranteeing smaller payments for insurable events. At the same time, it could also mean that you do not get reimbursed as much as you wish when things go wrong. Another case is that you have more personal liability if the limits are lower than what you owe for medical payments or damage to the property.
Our experienced FIC Insurance Team help renters to be informed about the best insurance coverage for their specific needs. We take into consideration all of the facts about their homes, properties and financial situations. Take into consideration this information about the Florida renters insurance and give us a call so we can help you with your insurance needs.
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We pride ourselves on the ability to put our customers first. Peter Sabo, the founder of FIC, has said since day one that “each and every customer is part of the FIC family”. That same sentiment has resonated with every employee at FIC. As a result, our customer service reflects that disposition. FIC strongly believes that human-to-human communication is essential in delivering the best customer service experience. We look forward to saving you money in your insurance policy whether its home insurance, auto insurance, business insurance, or health insurance, give us a call and start saving today!