Homeowners Insurance in Hollywood, FL
Owning a home is a significant milestone and protecting such a sizable investment is crucial. Homeowners insurance may offer financial security against unexpected risks.
What Does Homeowners Insurance Cover?
Coverage may vary depending on the insurer, but a standard policy may provide the following:
- Dwelling coverage may pay for repair costs if your home gets damaged by certain loss events like fire, hail, theft or vandalism.
- Structure coverage may cover the repair and replacement of detached structures like a garage or a shed.
- Personal property coverage may cover your appliances, clothing, electronics and furniture.
- Personal liability coverage may cover legal or medical expenses if you’re liable for bodily injuries or property damage to another party.
- Additional living expenses coverage may cover food, shelter and other expenses if you’re forced to temporarily move out of your home after a covered event.
How Are Rates Calculated?
Your homeowners insurance premium may be calculated based on the following factors:
- Your location
- Your claims history
- The value of your property
- Your deductible amount
- Your coverage options
When is Homeowners Insurance Required?
While homeowners insurance is not required in Florida, your lender may ask you to submit proof of a policy if you take out a mortgage. Regardless of these requirements, it’s generally recommended that you purchase a homeowners policy if you want additional financial protection for your property.
Contact First Choice Insurance Solutions Inc today for more information or to request a personalized quote.