When you request a Florida Home Insurance Quote from an agent, it’s a good idea to have your current policy handy so that you can compare your new Florida home insurance quote to your current Florida homeowners policy for similarities and differences. An HO-3 Special form is the most commonly sold home insurance policy in FL. Chances are you have this type of policy, unless you own a condo or rent out your house. That being said, the main components of the policy will be very similar. However, your policy may have optional endorsements that are not included in the newly quoted policy. An agent would need you to indicate what endorsements you have so they can either be added to the new quoted policy or ruled out as unnecessary. Endorsements or riders can be found on your declarations page. But, what are endorsements?
Endorsements are Added to Your Florida Home Insurance Quote
An endorsement or a rider is additional coverage item that help to customize or further enhance a Florida home insurance policy to best suit a customers needs. However, you may find you are paying for coverage that you don’t want. Common endorsements include, but are not limited to; inflation guard, identity theft, water back-up, and replacement cost for contents. Inflation guard increases the limit or dollar amount of insurance you have on your home to keep pace with inflation. As we experience inflation, the cost to rebuild your home may rise. This endorsement helps to ensure you will have enough coverage in the event of a loss in the future. Another example of an endorsement could be scheduled personal property. Do you have expensive jewelry or furs? Well, a homeowners policy will pay up to a certain amount for theft of such things. The limits are usually low, and can be increased to a limit more desirable to the policyholder. Any added endorsement will cost you additional premium. If you don’t need certain endorsements, it’s never a bad idea to review the endorsements you are paying for and eliminate them. It’s RTC Insurance Advisors recommendation to keep major endorsements such as personal property replacement cost. This endorsement will eliminate depreciation deductions for personal property in the event of a loss.
RTC Insurance Advisors will help you compare your current policy to your new Florida Home Insurance Quote and explain what endorsements are available to you so you’ll be able to decide if the endorsement is necessary or not. Get your no obligation Florida Home Insurance check-up today. Call us at 352-200-2066 or get your online quote now. You will be glad you did. We uncover savings everyday and want you to free up more of your hard earned money.