Best Homeowners Insurance Agencies in Pembroke Pines

FAQs

• 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.
  

• What is the difference between home warranty and homeowners insurance?

  Homeowners' insurance protects your home and property from damage from events that include storms, theft, and fires. A home warranty covers repair costs for parts of your home that eventually breaks down. For example, if a fallen tree damages your roof, it's typically covered by insurance, not the warranty.
  

• Does Geico offer homeowners insurance?

  Because auto insurance is Geico's focus and where they invest the most in advertising, many people know the company only as a car insurance provider. On the contrary, Geico does offer a range homeowners' insurance policies that cover dwellings, personal property, and personal liability, among other provisions.
  

• How long does homeowners warranty insurance last?

  Home warranties vary based on the provider of the coverage, but most home warranties last for one year. Once they run out, homeowners have the option of renewing the warranty or letting it lapse. If a covered item breaks down after the warranty period is over, repair costs won't be reimbursed.
  

• Does homeowners insurance cover water heaters?

  Homeowners' insurance doesn't cover water heaters when they break down from normal wear and tear. An insurance policy may cover water damage to your home and property if it malfunctions, and if the water heater is damaged by a fire or an accident, home insurance may provide the costs to replace it.
  

• Are RVs covered under homeowners insurance?

  Usually, an RV is covered under your homeowners' insurance, but that coverage will probably be subject to several exceptions and contingencies. For example, if you want to drive your RV, you'll either need car insurance or specialized RV insurance since the risks you'll face on the road do not fall under a homeowner's policy.

• Do new buyers need owner\'s title insurance on a new home?

  There are unique risks that a buyer of a new home may face. For example, property claims from previous owners or liens from suppliers whom the homebuilders never paid during construction. Title insurance protects the home from these perils, and your mortgage lender may require it.
  

• Do owner builders need home warranty insurance?

  In the United States, owner builders are not required to have home warranty insurance. If you're the one who built your home, you're expected to incur the costs of repairs yourself if a structure or appliance breaks down.
  

• Are dogs deaths covered in homeowners insurance?

  Usually, the loss of a dog or other pet is not covered by your home insurance. However, many insurance providers offer riders — packages of added coverage — for pets called pet insurance. This ensures that medical costs and property damage caused by your pets are fully covered.
  

• Are earthquakes covered in standard homeowners insurance policies?

  Standard homeowners' insurance policies do not cover damage directly caused by earthquakes. Insurance will sometimes cover indirect damage, however. For example, if an earthquake causes a fire in your home, damage from the fire will be covered under a standard home insurance policy.
  

• Are homeowners insurance and car insurance deductible?

  Homeowners' insurance and car insurance premiums are not deductible as personal expenses on your taxes. However, some percentage of your premiums may be deductible as business expenses if you own a business and use your car and home for business purposes. This may vary between states.
  

• Are homeowners insurance payouts taxable income?

  If you file a claim after a burglary at your home, for example, the insurance company will assess the value of the property lost or damaged and reimburse that amount. This payout is not taxable because it's not income — it's a replacement of lost value.

• How frequent should one change auto or homeowners insurance to another provider?  

  If you find home and auto insurance policies that you're happy with, you may never want to switch. However, various providers offer different combinations of coverage and price, so you may want to assess all your options every few years.
  

• What should a homeowners insurance include/cover?

  A homeowners' insurance policy should cover the dwelling, personal property inside and some outside, other structures on the property, and liability. For example, it should cover medical bills if a guest sustains an injury. Not all of these coverages are included in every policy.
  

• How much homeowners insurance should someone carry?

  How much insurance you need depends on the size of your home, its age, and other unique factors. Standard insurance policies cover around 70% of the total value of your home and additional covered property. Most policies that offer premises liability include $100,000 in liability coverage.