All About Homeowners Insurance

By: Advocate Brokerage


homeowners insurance coverage

We love being a part of our customers’ lives and doing what we can to make buying insurance a more positive experience. As specialists in the world of Property & Casualty Insurance who believe in educating each client we serve, we thought it might be helpful to share some insight into homeowners’ insurance coverage.


Homeowners’ Insurance Defined

In broad terms, homeowners’ insurance is a form of property insurance that covers damage to your home and possessions as well as offering liability coverage for any injuries or property damage you cause to other people. This coverage helps to cover the cost to repair and replace your home and personal belongings damaged in the event of covered threats such as a fire, theft, and some weather-related emergencies.


What Does Homeowners’ Insurance Cover?

Typically, a homeowners’ insurance policy will cover the costs to replace or repair items that have been damaged after the following events:

  • Fire
  • Windstorms
  • Hail
  • Ice, snow or sleet storm
  • Lightening
  • Vandalism
  • Theft
  • Freezing of plumbing, heating, air conditioning or other household items


There are several different types of coverage included in your homeowners’ insurance policy. We are going to list and offer a brief description below:

  • Dwelling coverage allows you to pay for necessary repairs (or a total rebuild if needed) once your home has been damaged after one of the events listed above.
  • Other structures coverage covers the cost to pay for any damage to structures that are not attached to your dwelling such as garages, sheds or fences.
  • Personal property coverage helps you to replace personal items in your home that have been damaged after a loss. There are often limits to certain types of items. We can help you determine if you need to add supplemental coverage in place for valuable items.
  • Loss of use coverage pays for living expenses should you have to temporarily move out of your home while it is being restored.
  • Personal liability coverage protects you in the event that a legal suit is brought against you or a member of your household after property damage or bodily injury occurs in your home.


Does Homeowners’ Insurance Cover Flood Damage?

You may have noticed that coverage for flood was not included in the list above. Even though floods are frequent, damage caused by a flood is not covered by your homeowners’ insurance policy. It is important to keep in mind that floods can happen anywhere, including in areas that are not normally defined as high-risk. Advocate Brokerage helps homeowners find appropriate coverage from baseline coverage offered through the National Flood Insurance Program to supplemental plans from some of our elite carriers such as CHUBB. If you would like more information, we’ve got an updated blog on the subject of Flood Insurance. You can also give us a call and we’ll help you find the coverage that is the right fit.


How Much Is Homeowners’ Insurance?

There are many factors that go into pricing a comprehensive homeowners’ insurance policy. Your residence is likely your most valuable asset so it makes sense to do what you can to ensure that it is properly protected. We take time to understand the unique needs of you and your family so that we can put together a customized insurance solution that is cost-effective without sacrificing coverage. We offer free, no obligation reviews of your current insurance coverage so if you are curious, feel free to get in touch with us or head to this link to get a homeowners insurance quote.


Homeowners’ Insurance In Florida

If you have a second home in Florida, or are planning on moving there after retirement, you should know that finding homeowners insurance in Florida can be a challenge. Homeowners’ insurance in Florida is certainly a hot topic these days. Florida makes the list of one of the hardest states to insure homes due largely to the continued threat of climate change-related disasters. There is a high cost to living in paradise, with annual rates for homeowners’ insurance in Florida projected to increase by as much as 43% in 2023. Inflation, the increase in the cost of construction and the challenging reinsurance market in Florida have also contributed greatly to increasing insurance rates.


Building relationships with our Advocate Brokerage families is important to us. That is why we take the time to get to know our clients and understand their unique insurance needs. Whether you own one home or two, reside in them or rent them to others, live in New York or Florida, we will obsess until we perfect your insurance coverage. If you have any questions, please feel free to get in touch with us!

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