Insurance for Homeowners

Having a home is more than just shelter. Your home is your investment carried for a lifetime. For most people their home is their biggest asset.

Because it is essential for peace of mind to protecting that investment, a homeowners policy can be confusing with all the coverage options available. Our agents are trained to help guide you through the process, and that process might be easier than you think.

*NOTICE: Homeowners coverage does not include flood insurance. Please visit the flood insurance section for more information on flood insurance.

Components of Home Insurance

Home insurance can be split into five different parts:

• Dwelling and Other Structures

• Personal Property

• Liability

• Medical coverage

Notice: Depending on your current carrier, all these limits will vary

Dwelling and other structures

The core benefit to any homeowners policy will always be the dwelling and other structures. This is also commonly the most difficult part of any policy to get correct since the value of multiple things will be covered under one part. It’s not always the amount that you paid for the house, but the value of the property at the time of writing.

The Dwelling will consist of the main building. The part you will sleep and eat in. However, your dwelling coverage may be extended to structures that are separated from the main dwelling by a fence or clear space. Common examples of this could be:

• Detached garages.

• Storage units.

• Fences.

• Structures like gazebos.

It our job here at 3rd Generation Insurance to recommend a trusted company that will cover your enclosed pool cage or screen enclosure.

Medical coverage

This coverage is designed to reimburse medical expenses brought on by guests who have been injured on your property. This type of coverage doesn’t normally exceed past $5,000. Medical coverage, although typically not a large amount of protection, could be a night and day difference protecting you from a plausibly large expense.

Sometimes, if your guests aren’t able to pay for their medical expenses themselves, the situation will get taken to court where they will pursue you further. Because the injury occurred on your property, you might be tied to a situation you don’t want to be in. Medical coverage performs excellent in these situations, paying out the small claim, usually no questions asked. Talk your agent if you are curious to know your medical coverage limits.

Liability insurance

If a situation ever went beyond your medical coverage limits, Liability Insurance is designed to further protect you from legal action set against you. This includes accidents that occurred on your property or damages you or your family caused while being away from your property. If in need of legal services, a liability insurance policy can compensate you for such a case. The insurance world can be complicating sometimes. Fortunately, our agents can help find you the amount of liability insurance you might need one day.

Personal property

A general good rule of thumb is, if you were to flip your house over, all that would fall out would be considered personal property. Some examples of personal property could be:

• Electronics

• Tools

• Furniture

• Clothing

Personal Property can be replaced for things like fire and theft. However, some items have limits of what your carrier would pay up to. For example, if you were to lose all your collectible coins in a fire, your insurance company may have a limit of what they will pay up to for collectible coins. Be sure to tell your carrier if you have an unusual collection of things like: guns, antiques, or coins. If you wanted to cover these things to an unusual amount, you would have to “schedule” them separately.

Factors that affect your insurance premium

One of the most frequently asked questions new customers ask us is by what method is price of their insurance coverage is determined. Insuring a home involves many parts making it difficult to summarize just a few. Here are some factors that have a major impact on you premium:

• The deductibles you have in place. Having a higher deductible means lower premium.

• Your home’s address. The distance from a fire hydrant or fire station.

• Your personal claim history. How many losses have you had in the past?

• Roof’s age.

• Home’s age.

• Roof type: metal, shingle, or clay tile.

• Do you have any gaps in your insurance history?

• Distance between your home and the water.

• The amount of coverage you carry for dwelling / personal property.

• The discounts and credits you have in use.

If you haven’t taken the time to go through your policy with your agent, you might be missing out on potential premium savings.

Here’s how you can help save money on home insurance

Finding a good rate isn’t easy anymore on Florida. Most people don’t know this, but there are ways you can help out with the cost.

1. Do not buy older homes.

It isn’t uncommon that people already know that older homes require more upkeep. However, Insurance carriers know this too and will charge more premium due to the higher likelihood of your home sustaining damage. If you are looking for a property on Florida soil, this is definitely something to consider.

2. Get a wind mitigation inspection if your home is older than 2003

Back in 2003, Florida make a dramatic change in the building codes. This change was meant to make builders build stronger roofs. If you are ever looking for new insurance and your home is built before 2003, you could qualify for a wind mitigation discount if you provide your agent with a recent inspection. The inspection usually costs around $100 and could save you several more hundreds in a couple years.

Are you looking for home insurance quotes?

Are you in search of reliable and affordable home insurance quotes? Look no further! At 3rd Generation Insurance, we specialize in providing comprehensive and tailored home insurance solutions to meet your specific needs. Whether you are a homeowner, renter, or landlord, protecting your property and belongings is of utmost importance.

When it comes to home insurance, we understand that each individual's needs and circumstances are unique. That's why we take the time to listen and understand your requirements before offering you a personalized quote. Our team of experienced insurance professionals is dedicated to finding the right coverage options that align with your budget and provide you with the peace of mind you deserve.

To get started on obtaining home insurance quotes, we offer two convenient options. You can either give us a call or fill out our online form here and one of our friendly and knowledgeable agents will be happy to assist you. We understand that speaking directly to an expert can provide you with valuable insights and allow us to ask specific questions to ensure we understand your coverage needs.

Florida home insurance

The Florida home insurance market is a dynamic and ever-changing landscape, and at 3rd Generation Insurance, we are proud to serve the residents of Charlotte County and Lee County, including the vibrant cities of Punta Gorda and Fort Myers. As local insurance experts, we understand the unique challenges and risks homeowners face in these areas. Several factors contribute to the relatively higher cost of insurance in the Sunshine State, and understanding these factors can help consumers make informed decisions about their coverage.

One of the primary reasons for the higher cost of insurance in Florida is the state's geographic location and its exposure to natural disasters, particularly hurricanes. Florida is vulnerable to severe weather events due to its extensive coastline, which puts homes at a higher risk of wind and water damage. The potential for hurricanes, tropical storms, and associated perils such as strong winds, heavy rainfall, and storm surge creates greater risks for insurers, leading to higher premiums.

In addition to the frequency of severe weather events, Florida also faces challenges related to its unique construction practices and building codes. Many homes in Florida are constructed with materials and techniques that are specifically designed to withstand high winds and other potential hazards. While these measures help protect homes from damage, they also contribute to higher rebuilding costs. Insurers consider the replacement value of homes when determining premiums, and the higher cost of rebuilding in Florida can result in increased insurance costs.

Whether you are a first-time homeowner, looking to switch insurance providers, or simply want to review your existing coverage, our team is here to assist you. Contact us today to schedule a consultation and let us show you why countless homeowners in Charlotte County and Lee County, including the cities of Punta Gorda and Fort Myers, trust us for their insurance needs. Together, we'll ensure your home is well-protected so that you can enjoy the peace of mind you deserve in these wonderful communities.