Best Homeowners Insurance Agencies in Pembroke Pines

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.
  

• How much does homeowners insurance in Pembroke Pines cost on average per year?

  Due to its location in Broward County, Pembroke Pines faces many of the same threats from unforeseen dangers as the larger communities close by. In Pembroke Pines, the average annual premium for homeowners insurance is $5,607 for a $150,000 property, $9,699 for a $300,000 residence, and $12,939 for a $450,000 home.

• Can you insure your possessions for their actual cash value when buying homeowners insurance in Pembroke Pines?

  In Pembroke Pines, you can cover your possessions for their real cash value, which will pay for the replacement of your home or other property up to the amount of your policy, excluding the deduction for depreciation. Alternatively, you can choose replacement cost, which pays the real price of rebuilding your house or your valuables according to the maximum limit of your policy without taking depreciation into account.

• What is the largest home insurance discount available in Pembroke Pines?

  The Wind Mitigation Credits, which can reduce your hurricane premium by up to 38%, is the highest home insurance discount available in Pembroke Pines. Florida law mandates that insurance providers give discounts for protecting your house from windstorm damage. These savings, known as Wind Mitigation Credits, are provided following a certified evaluation of your home.

• Does Pembroke Pines homeowners insurance cover the replacement of air conditioners?

  Your Pembroke Pines homeowners insurance policy may cover the cost of repairing or replacing your air conditioner up to your coverage limit and less your deductible if it is destroyed or damaged as a result of a covered peril, like a windstorm or lightning. Replacement of an air conditioner due to improper maintenance or wear and tear will not covered by your policy.

• When selling a property in Pembroke Pines, when should you terminate your homeowners insurance?

  When selling a home in Pembroke Pines, you should only terminate your homeowners insurance after the buyer has acquired legal possession of the property. Remember that until the closing procedure is complete, the house you sell is still yours. If you abruptly cancel your homeowners insurance, you will be responsible for any damages that result and will have to pay for them yourself. Additionally, the buyer has the option to cancel the transaction at any time.

• 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.