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Most of us see homeowner's insurance as something we have to have and hope we never need. We get a policy each year, throw it in a file, and we don't give it much thought. But it doesn't hurt to get to know your policy, and here's a little information to help you get acquainted.

Flood - Most homeowners policies don't cover flood. Flood is a separate policy and if you live in Florida you should have it. If you have a mortgage on your home, the bank may require it. Just remember that it's a separate policy from your homeowners. If you're not sure if you have it or need it, give your agent a call.

Deductibles - Kinda like a strange cousin  - everyone has one. If you live in Florida - you may have two deductibles - one for hurricanes and one for All Other Perils (AOP). Deductibles are important because it's the part that comes out of your pocket if there is a loss.

Special Coverages - Special coverage is for special items - things like jewelry, art , antiques. Most home policies offer some coverage for valuable personal property,  but not a lot, and sometimes not enough.

Personal Property Coverage - Some homeowners policies will cover your personal property even if it's not in the home. For example, on a family road trip your van gets broken into overnight at the Hampton Inn. Your camping gear and an expensive cooler is stolen. The homeowners policy could help with replacing that property.

Replacement Cost Coverage
- This means the policy pays the cost to replace your personal property - not just the value of what it's worth. For example, your couch is 3 years old and today it's worth $500, but to replace it (with the same likeness, kindness and quality) will cost $1200, the policy will pay $1200.

A homeowner's policy may offer coverage where you think it wouldn't and may not cover some items you think it would. The more informed you are, the better. If you have questions about what your policy covers, talk to your agent, call 727-848-2722 or email.
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