Want More Money? Start Property Insurance Companies In Florida


Property insurance is an insurance policy that provides coverage and financial reimbursement to the owner or renter of a structure and its belongings in the event of weather damage, fire, theft and the like. In general, property insurance can include homeowners insurance, flood insurance, renters insurance and earthquake insurance. Property is insured in two main ways called open perils and named perils. Open perils cover all the causes of loss that are usually mentioned in the policy. There are some common exclusions on open perils and they are earthquakes, floods, nuclear incidents terrorism and war. Named perils require the actual causes of damage to be listed in the policy. The causes include the damages due to fire, lightning, explosion and theft.

Why Buy Property Insurance?

Property insurance Florida means insurance of buildings, machinery, stocks and more against fire and other allied perils. Goods are transported via sea, air, railways roads, etc. and these goods are to be safeguarded by insuring against probable damages. In general property insurance is a general insurance covering the properties, you are intending to cover.

Points to be noted while Buying Property Insurance:

● You must understand that you can insure the property, which you only own
● You must have the documents to prove your ownership of the property, you insure
● You have the right to know on what basis the sum insured is fixed and in general, the following are the factors that decide to fix the sum insured

1. On the basis of the present market value after taking the depreciation into account
2. Reinstatement value basis under which cost of replacement of the said property is taken into account for consideration
3. Information regarding add-on.

You have to ensure on what basis the sum insured is calculated and this depends on your needs.

● At the same time, do not allow anyone to fill up your proposal form on your behalf
● You should not hide any fact regarding the properties and fixtures
● You should not underestimate or overestimate the value of your properties and this is because you may have to face great difficulties when the question of claim comes.

The above points are to be strictly adhered to when insuring your properties under property insurance coverage.

What are the Properties to be Covered?

Florida property insurance companies offer umbrella policies. This means householders policy, shopkeepers policy, office package policy etc. will be covered under one policy. This policy seek to cover physical assets including the buildings and contents etc. However, before taking such property liability policies you have to go through in detail about the rules and regulations contained in insurance policies.

The most common and popular property insurance is the fire policy. This fire policy provides coverage to compensate the loss or damage to your properties in fire, lightning, explosion, riot strike, intended damage, cyclone, flood, landslide and the like. Though it is named as Fire Policy it covers all such damages that is caused by the reasons stated above. Properties covered under this policy include dwellings, shops , office premises, machinery, equipments, industrial and manufacturing units etc.

However, loss of damage due to wars, nuclear perils, contamination, electrical and mechanical breakdown, burglary and housebreaking will not come under the purview of the fire policy issued under property insurance. Fire policies are issued for one year in general and it needs renewal every year. But fire policy for dwellings may be issued for three years or more.

A burglary insurance is a separate one and can be purchased for business enterprise or for a house. Apart from covering your belongings, the damages caused by the burglars, while breaking open your house or office for committing burglary. This policy will compensate, in case of a burglary, the actual cost of the properties lost subject to a limit of the sum insured. Therefore, you have to insure the sum that is equal to the value of the properties and contents, you own or possess.

You have to select the property insurance policy according to your needs and to the nature of your business. Many popular Florida insurance companies offer such property insurance for the benefit of the residents of Florida.

While buying property insurance, you have to be very careful. You should buy the policy from the licensed insurer only. You should not sign a blank proposal. If you are not able to fill up the proposal form by yourself, ensure that all the questions and proposals in the form are explained to you in detail.

Citizens Insurance:

Citizens insurance Florida or Citizens Property Insurance Corporation was established in the year 2002 with an aim to provide windstorm coverage and general property insurance coverage for the homeowners of Florida for the people, who could not buy the insurance from any of the insurance companies. Citizens was established by the Florida Legislature and it is one of the largest insurers in the State.

Citizens Eligibility Criteria:

When you are not able to get an insurance coverage from a private insurer, Citizens insurance Florida will help you to get an insurance policy. Subject to the following conditions, you can insure with Citizens insurance Florida.

● You could not get a coverage from a Florida authorized company
● Premiums for coverage from Florida authorized companies are more than 15% higher than premiums for comparable coverage from Citizens.

You can get a Citizens policy only through appointed Citizens agents. Manage Mypolicy is Citizens online service, through which the policyholders can view their policy information and billing information. This online facility is available only for personal policy holders and the commercial policyholders have to contact the agents for assistance regarding the policy matters. A personal policy holder should furnish the policy number, e-mail address registered with Citizens and contact number registered with Citizens to use Manage Mypolicy service.


Property and liability insurance is also very much essential for the residents of Florida and you could have understood the coverages offered under the property insurance policy. Instead of availing the types of insurance policies separately, it would be more suitable to avail property insurance facilities under which most of your personal property items are covered. Of course, the policy, you select, depends entirely on your needs and requirements.