Home Owners Insurance is an important coverage that the average homeowner should purchase and maintain on their home ,condo or apartment. Home Owners Insurance Protects you in the event of a natural disaster such as hurricane (tropical cyclone) ,tornado or typhoon. In Miami Home Owners are taught to expect a major hurricane at least once a year, as with Hurricane Andrew in Homestead,Fl Hurricane Insurance protected many Home Owners during that natural disaster. Many Home Owners made Home Owners Insurance claims during that time. Many Insurance Agencies in Miami were forced to shut down. Luckily the state of Florida paid many of the Home Owners Insurance Claims that the companies could not pay. Home Owners Insurance often comes with a Hurricane deductible which must be paid by the Insured ,usually it will be between $500 and 5% of the value of the dwelling. Also there is an all other perils Liability which must also be covered by the insured and that usually goes between $500 to %2500 deductibles. Liability Insurance is often included in the insurance policy and it usually covers any where between $100,000 to $500,000 worth of Liability Damages. Liability Insurance is important if and when someone is trying to sue you, In a typical Scenario a home owner is responsible if someone is injured on their property, good news for home owners is that their insurance policy will often cover all liability damages up to the policy limit,less the deductible.
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