Personal liability coverage- Florida home insurance dilema (2%, inspection, value)

[900rr]

Hi everyone

We just bought a home and while shopping for insurance I noticed that "personal liability" coverage ammount changes premium in our case for about $500/year.

One quote had PL coverage of $300,000 2% huricane deductiible no sinkhole covearge and total premium of $3,615

The other quote had PL of $100,000 same 2% huricane deductible and 10% sinkhole deductible. Total premium : $3,139/Year

This is our first home and we are trying to understand and pick best value for the money. It will be great if someone can chime in wit some advice or personal experience.

Thank you in advance !!

[dontaskwhy]

The hurricane deductible of 2% in FL is normal and can be higher in certain areas. Most FL home insurance policies require a separate rider/policy for sink hole coverage. Shop around for insurance and have your agent(s) explain the coverage amounts in more detail. Coverage on policies can be increased at an additional premium or deductibles raised to reduce premiums. Nobody likes to pay for insurance, but it is usually cheaper than paying replacement costs out of pocket when you need it. Good luck. What part of Florida?

[Aggiebuttercup]

Don't forget flood insurance, even if you aren't in an official flood zone. The hurricane deductible is likely only for winds. So if the storm surge from a hurricane gets your house first, you are SOL - and if a hurricane completely demolishes your home, windstorm will blame it on the flood and it's difficult to prove otherwise.

[Mike1306]

Did you ask for liability coverage of $300,000 or is your dwelling coverage $900,000 and the $300K liability is just 33% of the dwelling coverage?
How old is the home?
Where is it located?
Did you have a wind mitigation inspection?
Too many question to be able to answer your question.