As a homeowner in Florida, one of the most effective ways to safeguard your most valuable real estate asset is to purchase and maintain a home insurance policy. These policies are designed to help owners protect their property. That’s why your insurance representative at Insurance Warehouses of America, serving Orlando, FL, encourages everyone to retain their home insurance policy, even after the mortgage institution no longer requires it. Here’s what’s covered in a standard home insurance policy, to help you better understand its value.

Main Property Coverage

The primary coverage in a home insurance policy is for the main property. This protects the physical structure of your home, including elements such as the walls and roof. Typically, this coverage includes protection against incidents like fire, burst pipes, hail, vandalism, and similar events. Your insurance can help cover the cost of repairs or rebuilding, depending on the nature of the loss.

Outbuilding Coverage

Other structures coverage extends protection to buildings on your property that are not attached to your main home, such as a detached garage, shed, or fence.

Personal Property Coverage

Personal property coverage helps cover the cost of repairing or replacing personal belongings, such as furniture, electronics, clothing, and appliances, if they are damaged or stolen. This protection applies even when items are lost outside the home in some situations.

Liability Coverage

Liability protection is included to cover legal expenses and damages if someone is injured on your property or if you accidentally damage someone else’s property.

Temporary Accommodation Coverage

Additional living expenses coverage helps pay for temporary housing, meals, and other living costs if your home becomes uninhabitable due to a covered loss.

Understanding what your policy includes and what it doesn’t can help you make informed decisions about coverage levels and any additional protection you may need. Contact your insurance representative at Insurance Warehouses of America, serving Orlando, FL, for more information.

Home Insurance Coverage Limits for College Students

Your home insurance covers the personal belongings of dependent children against covered perils such as theft or fire and their liability if they injure someone or damage someone else’s property.

An important limitation for college students is that insurers often cover them only while living in university-controlled housing. Students who live in fraternity, sorority, or off-campus housing are generally not covered.

In addition to the university housing issue:

Children often must be full-time students to be covered

Some policies stop coverage of children at 24 or 25 years old

Low claim limits are standard for jewelry and electronics

Losses that occur "off-premises" or away from your home are often limited to 10% of your personal property limit

Your standard deductibles apply to claims related to your children

These limitations can significantly affect your college student’s coverage, so confirm the details with your agent. Consider buying renters’ insurance to cover your student’s belongings if necessary.