Having trouble finding rental home insurance
You have many choices in Florida for rental home insurance coverage. If you don't know about how the different companies rate or what discounts they offer you are probably paying too much. We represent some of best home insurance companies in the Sarasota, Bradenton, Venice and the surrounding areas.
The cost to rebuild your home is its replacement value. This can be very different from the estimated market value or actual purchase price. In most cases, it costs more to rebuild the home you own than to buy a new one. This is an important insight into why your Dwelling (Coverage A) limit is so important.
Consider carefully whether your policy provides all the protection you need.
Does it provide coverage for extra costs resulting from building code changes? Does it automatically increase coverage limits annually to keep pace with inflation? Does it provide additional funds if the cost of rebuilding your home exceeds the insurance limits? Most policies don’t and you need to be aware of what is covered under your policy.
Does your policy include replacement cost coverage for contents (clothing, furniture, appliances, and other personal property inside your home)? If not, you can add it by endorsement. The cost is small, the protection valuable.
Replacement Cost Coverage
Pays for losses to your possessions at the cost of brand new items. Without this option, a covered loss to your personal possessions would be depreciated by their age and condition, reducing the size of your claim settlement.
Liability
The Personal Liability coverage provided by your Homeowners Policy usually provides a limit of $100,000 or $300,000. We recommend increasing this protection with a personal umbrella policy. Not only will it increase your personal liability, but also your auto liability. Limits are available from $1 million to $5 million and beyond. The cost of this coverage is usually very reasonable.
