Best Homeowners Insurance Agencies in Miami Gardens

Frequently Asked Questions

• Introduction

  Homeowners' insurance is a type of property insurance used by private property owners to protect their home and property from a range of risks and liabilities. It is also called home insurance.
  

  
  

  All homeowners' insurance policies cover the primary home on a property, meaning that most damage from weather, accidents, vandalism, and other events will be at least partially paid for by the insurance company. Many policies also include coverage for other structures, personal property, and some premises liability.

  
  

  It is not required by law that a homeowner purchases insurance for their property. However, if you have a mortgage, the lender will usually make purchasing a homeowners' policy a mandatory part of the loan process. Since the mortgage lender is essentially selling you the home, they require you to protect the investment.
  

• What is the annual average cost of homeowners' insurance in Miami Gardens, and what factors are considered for the rates?

  In Miami Gardens, the average cost of homeowners' insurance is around $1,900, which is 22% higher than the national average. It is also critical to account for specific factors when estimating homeowners insurance costs because rates vary depending on individual circumstances. Factors must be considered when calculating coverage expenses to ensure accurate estimation, as rates vary depending on the specifics of each situation.

• Are you required to comply if an insurer in Miami Gardens requests an inspection of your property for homeowners' insurance?

  Homeowners in Miami Gardens are required to allow their insurance companies to inspect their properties. The purpose of these inspections is to identify potential hazards or threats to residents. If any issues arise, both the homeowner and their agent will be notified so that they can be addressed. If an internal review is required, the insurer works with the homeowner to determine a suitable date and time.

• Can Miami Gardens insurance companies refuse to renew policies if there are outstanding homeowners claims?

  Non-renewal notices may be issued by insurers in Miami Gardens, but only under certain conditions. Following a declaration of emergency under Florida Statutes s. 252.36, insurers cannot refuse to renew homeowners insurance policies due to hurricane or wind damage until 90 days after repair. The structure is insurable after complete restoration. Exceptions apply with a 45-day notice if there are delays, misstatements, or policy limit payments.

• What options do Miami Gardens homeowners have when disputing insurance claims besides litigation?

  To resolve insurance disputes, homeowners in Miami Gardens can consider mediation, arbitration, or appraisal. Mediation entails informal negotiations with the assistance of a neutral third party. Arbitration is a more structured and potentially binding process in which an arbitrator helps parties reach an agreement. Appraisal time and cost vary, with the loss amount determined by selected appraisers and an umpire. These options seek a mutual resolution of claim disagreements.

• If you sold your home in Miami Gardens and failed to inform your insurer, can they refuse to retroactively cancel the coverage?

  Yes, if homeowners' insurance carriers in Miami Gardens are not notified in a timely manner, they may refuse to backdate a cancellation after a home's sale. Personal assets, liability, and global medical payments are typically covered by insurance. There is no Florida statute that requires insurers to backdate cancellations. As a result, homeowners should notify their insurance provider as soon as they complete a sale.

• What determines the price of homeowners insurance premium?

  The premium, or monthly cost, of your homeowners' insurance policy depends on several factors, including the value of your home and amount of coverage you choose. Your credit history and whether the property is in a higher risk area also play a role.