Homeowners' insurance is a specific kind of property insurance that covers damage to or loss by theft in homes as well as protection against certain perils such as fire, hurricanes, floods, and other storm damage. A homeowners' insurance policy may also insure an owner against accidental injury or death that the owner is legally responsible for, and you will want to have a Florida property insurance claims attorney any time you need to file a homeowners' insurance claim.

Insurance companies make their money by denying or underpaying claims, so you should always anticipate a challenge any time you are filing a claim relating to your homeowners' insurance policy.

Homeowners Insurance Coverage in Florida

There are several kinds of homeowners' insurance, which include:

• Owner-Occupied Basic Form (HO-1) — The most basic form of homeowners' insurance is a named peril plan, so anything happening outside of the perils specifically named is not covered. A basic homeowners' insurance policy typically covers 10 perils: fire or smoke, explosions, lightning, hail and windstorms, theft, vandalism, damage from vehicles, damage from aircraft, riots and civil commotion, and volcanic eruption.

• Owner-Occupied Broad Form (HO-2) — These policies are the broad type of home insurance that again only cover perils named in a policy, usually the same perils as HO-1. Aside from covering a home's structure, HO-2 usually covers personal belongings, and some policies provide coverage for personal liability. HO-2 can also cover freezing of household systems like air conditioning (AC) or heating, accidental discharge or overflow of water or steam, sudden and accidental tearing apart, falling objects, cracking, burning, or bulging of pipes and other household systems, sudden or accidental damage from artificially generated electrical currents, and weight of snow, ice, or sleet.

• Owner-Occupied Special Form (HO-3) — These policies are open-peril policies, meaning that unless an insurer excludes a peril from the policy, then the policy will cover any kind of peril, whether it is named or not. Typically, an HO-3 policy covers the home's structure and any attached structures. The policy can also provide coverage for personal belongings and personal liability.

• Owner-Occupied Comprehensive Form (HO-5) — These policies are a comprehensive form of homeowners' insurance that are open-peril and can cover anything not excluded from the policy. While HO-3 only offers open-peril coverage on a home's structure, HO-5 features open-peril coverage for personal belongings as well. HO-5 will also pay out the replacement cost of covered items, whereas HO-3 only replaces the item's actual value.

• Modified Coverage Form Older Home Form (HO-8) — These policies usually cover homes that are 40 years old or older. Such policies can be important because when homes built decades ago suffer damage or destruction, materials needed for replacement can be more expensive than the home's value. HO-8 policies usually cover dwelling, personal property, liability, and loss of use from named perils. The named perils included in an HO-8 policy are the same perils named in an HO-1 policy.

• Renters Tenant Form (HO-4) — These policies are also known as renters insurance and provide coverage for tenants who want insurance for a rented dwelling. The policy protects items within the dwelling as well as some permanent fixtures such as cabinets installed by a renter. Most renters insurance policies are named-peril policies covering the same perils listed in HO-2 policies.

• Condominium Insurance Form (HO-6) — These policies offer coverage for condominiums and are referred to as “walls-in” coverage because it covers the interior of a structure, while a condo association's master policy covers the exterior structure and common areas. Condo insurance is often a named-peril policy, but some insurance companies allow the coverage to be extended to an open-peril policy when there is a higher premium.

• Mobile Home Form (HO-7) — These policies provide specialized homeowners' insurance coverage for manufactured homes, such as dwellings like RVs, trailers, sectional homes, and single-wide or double-wide mobile homes. Mobile home insurance policies usually feature open-peril policies similar to HO-3.

The standard homeowners' insurance policy is divided into component parts that include:

• Coverage A, Structure or Dwelling — Covers damage or destruction to a house and any unattached structures and buildings.

• Coverage B, Other Structures — Includes other structures like garages, decks, or swimming pools.

• Coverage C, Personal Property — Covers the contents of structures, including furniture, clothing, and appliances when they are stolen, damaged, or destroyed.

• Coverage D, Loss of Use — Pays for additional living expenses when a home is uninhabitable because of a covered loss.

• Coverage E or L, Liability — Protects a homeowner against financial loss if they are sued and found legally liable for another party's injury, death, or property damage.

• Coverage F or M, Medical Payments — Covers medical bills for people who suffer injuries on the property.

Call Us Today to Schedule a Free Consultation with a Florida Property Insurance Claims Attorney

Did you need help determining the best homeowners' insurance policy for your unique needs? Let Diane Zimmerman, PA, offer advice about the best possible policy for your future.

Our firm knows where to find you a great deal that provides all of the coverage you will need and expect. You can call 850.866.0833 or contact us online to arrange a free consultation so we can help you determine the policy that is going to best deliver what you want.