Gulfshore Insurance > Gulfshore Blog > Flood Insurance > Top 10 insurance considerations for homeowners new to Florida or inexperienced with hurricanes

When advising buyers who are new to Florida or inexperienced with hurricanes, here are 10 important reminders:

  1. For homes with a replacement value over $1 million – their insurance agent should be reviewing package insurance policy options that give them an opportunity to purchase their insurance from one of the premier insurance carriers such as Chubb, AIG, or Pure. These carriers do the best job with paying claims and covering the loss assessment claims from their associations and golf clubs.
  2. Insure the home to its full replacement value; this is different than market value. Full replacement value is what it would cost today to rebuild the home as new.
  3. Be sure that the homeowner policy covers wind driven rain.
  4. Be sure that coverage for the screen enclosure is added by endorsement if it is excluded under dwelling for losses as a result of hurricane.
  5. Purchase full limits for mold coverage – the maximum is $50,000.
  6. Purchase flood insurance for the main house and the detached guest house, even when the home is in a non-flood hazard area.
  7. Review options for a second layer flood policy which will allow you to insure the home to value against the peril of flood.
  8. Have a reliable home check representative in place to be sure that the home is checked regularly and that necessary measures are taken at the time of a loss to prevent further damage that could have been avoided.
  9. Consider installing high impact windows/shutters if they are not already in place. Also, having a permanently installed generator is of upmost importance.
  10. Recommend they consult with a qualified insurance professional with a comprehensive understanding of the Florida insurance marketplace, and one who has access to the premier carriers, such as Chubb, AIG and Pure along with other reliable insurance carriers that hold A ratings by AM Best. Also, agent selection should include the agency’s roll in the claims process. In other words, does the agency have a claims advocate working on the homeowner’s behalf?