All too often, Florida homeowners who have faithfully paid their premiums for decades find themselves in the position of having their homeowners' insurance claim denied or minimized. Part of the reason why insurers think they can get away with denying or underpaying claims is because few home owners fully understand what their policy covers. You may in fact be surprised by what your policy covers and excludes. One of the biggest misconceptions is that homeowners' insurance only covers structural damage. Generally, it covers far more than this. Here are some examples of things that you may not be aware your policy could cover:
- Liability coverage: Typical homeowners' insurance policy offer liability coverage in the event of a lawsuit due to dog bites or other civil actions against the home owner. Coverage limits generally range from between $100,000 and $300,000. Be aware that some homeowners' insurance policy will not cover dog bites inflicted by dogs that are on the so-called "dangerous breed list." Check your specific policy for liability coverage details.
- Mandatory updates: Most insurance policies will cover the cost of bringing the property up to code after a loss that was covered by the policy. This could include quite extensive remodeling dependent upon the age of the home and code issue involved.
- Falling objects: Many homeowners' insurance policies will cover damages stemming from objects falling from the sky, which could include planes or old satellites.
- Spoiled food: Standard policies will offer up to $500 to cover the cost of food spoiled in refrigerators or freezers during power outages.
- Bicycle accidents: A typical homeowners' insurance plan will provide coverage when the policy holder causes a bicycle accident, even if the accident did not occur at the home.
- Additional living expenses: If your home becomes uninhabitable due to damage, the insurer will generally pay for your hotel and restaurant bills. Some insurance policies will have limits on how long they will cover these items and some policies eliminate this coverage all together, so be sure to check your specific policy.
- Student property: Homeowners' insurance provides coverage for property owned by members of the household. If the homeowner has a college student living away from the home, that child's personal property is generally still covered under the parent's policy. However, if the student moves off campus, he or she may no longer be covered under the parent's policy and may need to obtain renters insurance.
These are just a few of the more surprising things that the typical homeowners' insurance policy will cover. While some home owners may be pleasantly surprised to find they can obtain coverage for these items, others may be devastated to learn that one thing they thought was covered is in face excluded-flood damage. One of the biggest misconceptions is that homeowners' insurance policies include flood coverage. In fact, floor insurance is a separate type of coverage that must be purchased separately.
Greenberg Stone and Urbano: Get Help Understanding Your Homeowners' Insurance Policy
If your homeowners' insurance claim has been wrongfully denied, contact the Miami Homeowners' Insurance Attorneys at Greenberg Stone and Urbano We have over 130 collective years of experience representing policy holders across South Florida. We have the experience and knowledge to provide you with top notch legal representation. Our firm has received a coveted AV rating from Martindale Hubbell and the Miami Herald recognized us as a top firm in South Florida. Allow our exceptional attorneys to provide you with superior legal services in the South Florida area. Call us at (888) 499-9700 or (305) 595-2400 or visit our website to schedule your initial consultation.