The most common home insurance claims in Florida include claims of storm damage, fire and lightning damage, water damage, property damage, liability and theft.
It is helpful to understand why these are common in Florida and what precautions you can take to reduce your risk of filing a claim with your home insurance provider. This information should also help you personalize your policy to meet your precise insurance needs based on the area you live in, the age of your home and more.
The Most Common Home Insurance Claims in Florida
There are many reasons why a homeowner may need to file a claim with their homeowner insurance provider. Specifically for Florida homeowners, the most common risks include wind and hail damage, fire and lightning damage, water damage, property damage, claims of liability and claims of theft.
As mentioned, not all instances where a home insurance claim is made can be avoided. However, through safety precautions and preparation, you may be able to reduce the risk of filing a claim.
Florida is one of the more susceptible areas to severe storms that cause storm damage. Subsequently, approximately one out of every three claims made in Florida are due to damage caused by storms. Florida homes are often vulnerable to severe thunderstorms, hurricanes, tornados, and heavy winds, which can damage the roof, foundation of your home, other structures and more. Homes that are closer to the ocean may be at an even higher risk.
Fire and Lightning Damage
Fire is incredibly destructive and spreads fast. The damage restoration process after a fire is often long and complex. Subsequently, fire damage claims are often the most expensive claims.
Lightning is often included in most home insurance policies in Florida as well, and lightning claims are relatively common in Florida when compared with other states. When lightning occurs, it can cause issues with your electricity, damage your roof, or fire, leading to expensive repairs and the need to file a claim with your insurance provider.
Florida is surrounded by the ocean. Naturally, there is a lot of rainfall in Florida and the risk of hurricanes and heavy thunderstorms is higher. Due to the tendency for heavy rainfall, homeowners in Florida should consider adding flood insurance if their home is particularly vulnerable. It is important to keep in mind that flood damage is not typically included in a primary homeowner insurance policy.
Property Damage (Non-Theft)
You can take precautions to reduce the risk of an accident to your home that damages your property, but accidents can still occur regardless. Property damage that is not related to theft is a common cause of home insurance claims in Florida. For example, a weakened tree may fall over your home and damage your roof.
The cost to repair damaged property varies. For minor accidents, such as a cracked window from a baseball, it may be best to cover the cost yourself and avoid making a claim. Of course, for more costly repairs that could take a significant bite out of your bank account, filing an insurance claim may be the best option.
Claims of Liability
Liability claims are claims made by the insured to the home insurance company due to allegations from a third party. For example, if a policyholder’s dog were to bite a neighbor, then the policyholder can make a liability claim with their insurance provider to cover the medical costs that the policyholder is responsible for.
Claims of liability make a relatively small percentage of home insurance claims in Florida, but they can still occur in various ways. Whether it is in the form of a dog bite, a child’s friend getting injured by your pool, etc., claims of liability are something to be mindful of and take precautions to prevent when possible.
Claims of Theft
Theft comprises a small percentage of the homeowner insurance claims in Florida, but it can still occur. Homeowners can take precautions to reduce the risk of theft, such as installing a high-quality security system in their homes. A security system may also reduce the premium for some qualifying homeowners as well.
Theft may not seem like a major loss, but many reports of theft total more than $10,000 in replacement costs. This could be in the form of stolen jewelry, cash, furniture and more. Fortunately, homeowner insurance providers for Florida homeowners include theft coverage into most primary policies.
Contact Our Insurance Pros at Merchant Family Agency
If you are not happy with your current home insurance policy in Florida or have yet to obtain a policy on your Florida home, then contact Merchant Family Agency today. We offer home insurance coverage for Florida residents and can personalize your policy to match your specific insurance needs.