Understanding Florida Homeowners Insurance Before Hurricane Season
As the 2025 Atlantic Hurricane Season approaches on June 1, Florida homeowners are reminded that obtaining insurance during this period can be particularly challenging. While the state’s homeowners insurance market is showing signs of stabilization following a years-long crisis, there are crucial aspects to understand about what is and isn’t covered by standard home insurance policies.
What’s Not Covered by Standard Homeowners Insurance?
- Wear and Tear: Homeowners are responsible for maintaining their property. Normal wear and tear, including issues like aging roofing or plumbing problems, are not covered.
- Sinkholes and Earth Movements: Florida, having the highest incidence of sinkholes in the U.S., requires separate sinkhole insurance for coverage against such damages.
- Intentional Damage or Negligence: Damages caused intentionally or due to negligence are typically excluded from standard home insurance policies.
Flood Insurance: A Separate Concern
Standard home insurance policies do not cover flood damages. Given that even one inch of water can cost up to $25,000 or more to repair, having flood insurance is critical, especially in Florida where the entire state is considered to be in a flood zone.
Types of Homeowners Insurance Available in Florida
- HO-1 (Basic Form): Covers specific named perils like fire, lightning, and theft.
- HO-2 (Broad Form): Expands coverage to personal belongings and additional perils.
- HO-3 (Special Form): An open-peril policy covering damages not explicitly excluded, typically for the home itself.
- HO-5 (Comprehensive Form): Similar to HO-3 but extends coverage to personal items with higher limits.
Lowering Home Insurance Costs
Homeowners can explore weatherproofing incentives offered by some insurers. For example, Citizens insurance provides “Wind-Damage Mitigation” discounts for homes with features like impact-resistant doors and windows, and wind-resistant roofing materials.
Understanding the specifics of your home insurance policy, including what’s covered and what’s not, is crucial as hurricane season approaches. Reviewing your policy’s ‘Exclusions’ and ‘Duties After Loss’ sections can help identify potential gaps in coverage.
