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Buying a new home is one of the most exciting moments in your life. If this is your first home, understanding home insurance can be a daunting task. You know your lender requires it, but understanding what to look for in a policy might be a mystery. At Skyline Insurance LLC in Jacksonville, FL, we are independent insurance agents. We have the knowledge and products to ensure that you get the policy that’s right for you, and we can address your questions and concerns.

You Have Choices

Home insurance is not a one-size-fits-all. You can choose the deductible amount that you feel comfortable with on your policy. You can also decide how you want your content to be covered. You can choose the current value or the replacement cost. Current value includes depreciation. You can also determine the amount of liability coverage you are comfortable with.

Not Everything is Covered

Home insurance has exclusions, and in Florida, you might find that hurricane coverage is different on your policy than other perils. Floods are not covered, sinkholes are not covered, and owner neglect (which includes termites) is not covered.

Some Things Have Limits

When it comes to your personal property, jewelry, cash, antiques, electronics, and art all have limits. You need to check the coverage to ensure it is adequate for the quantity of these items you have.

You Can Extend Coverage with an Endorsement

If you want to cover more in a category than the basic standard policy amount, you can add a rider. This can be used for the personal property that doesn’t have enough coverage.

Contact our office at Skyline Insurance LLC in Jacksonville, FL, on the phone or through our website to discuss your home insurance needs.

One of the most common questions we receive is whether home insurance covers personal property around the owner’s property. While standard policies typically cover personal belongings, it’s essential to understand the specifics of what’s included, including exclusions and any policy limitations. Of course, all home insurance policies in Florida aren’t alike, so it’s essential not to make any assumptions and to consult with your insurance rep at Skyline Insurance LLC, serving Jacksonville, FL, for details about your own policy.

It Depends

Most home insurance policies protect personal property both inside and outside the home. This means items such as patio furniture, bicycles, or tools stored in an outdoor shed are usually covered. However, coverage is often subject to certain conditions. For instance, damage or loss caused by theft, fire, or storms is typically included, but floods or earthquakes may be excluded unless additional riders or policies are in place.

Separate Deductible?

Many policies include this protection but may have separate deductibles for things like hurricane damage, which is a risk in Florida. Standard coverage might not suffice for high-value items such as jewelry or electronics. You may need to purchase additional coverage to ensure these items are fully protected.

Actual Cash Value Vs. Replacement Cost

Another thing to remember about personal property coverage is to consider the actual cash value versus replacement cost. The two are different. Some policies only reimburse the depreciated value of an item. In contrast, others cover the cost of replacing it with a new one, so you want to clarify how your insurance company would handle this.

To ensure your personal property is adequately covered, take inventory of your belongings and discuss your policy with your insurance rep at Skyline Insurance LLC, serving Jacksonville, FL. Clarifying what’s covered and what isn’t will go a long way toward giving you peace of mind and protection.