FAQs

The amount of life insurance you need should be enough to cover all of your financial obligations. It is difficult to determine the exact amount due to the particular needs of each person. However, when deciding on life insurance coverage, long-term obligations must be taken into account, such as housing payments, post-retirement healthcare, children's college tuition, etc.

Home insurance typically covers damage caused by wind or weather, unless the policy explicitly excludes this coverage. Home insurance also typically covers damage caused by hail and heavy rain (if a roof or wall is damaged by wind).

Typically, a leased car must have bodily injury liability coverage of $100,000 per person and $300,000 per accident, as well as property damage liability insurance of $50,000. The leasing company will also require physical damage coverage, such as comprehensive and collision coverage for the vehicle.

Homeowners insurance is not required by law in Florida, but if you have a mortgage, your lender will likely require you to carry homeowners insurance to protect their investment.

Liability coverage in homeowners insurance protects you if someone is injured on your property or if you unintentionally cause damage to someone else's property. It covers legal expenses, medical costs, and potential settlements.

Homeowners insurance covers a range of perils, which may include fire, theft, vandalism, windstorms, hail, lightning, and more. However, certain perils like floods and earthquakes are usually excluded and require separate coverage.

Condo insurance, or HO6 insurance, is a policy designed to provide coverage for individual unit owners within a condominium building. It typically covers the unit's interior and personal belongings, provides liability protection, and sometimes includes loss assessment coverage related to common area damages.

While Florida law doesn't require condo owners to have insurance, most condo associations in the state mandate that owners carry a certain level of coverage. This policy usually protects the owner's interests and ensures the association's master policy isn't solely responsible for damages within individual units.

Condo insurance typically covers the interior of the unit, personal property (such as furniture, clothing, electronics), liability for bodily injury or property damage, loss of use (additional living expenses if the unit becomes uninhabitable), and assessments for common area damages that exceed the association's policy limits.

Florida does not require flood insurance, but if you live in a designated flood zone, your mortgage lender may require you to have flood insurance as a loan condition.

Yes, you can purchase flood insurance regardless of whether you're in a high-risk flood zone or not. Many flood-related losses occur in areas that are not considered high-risk zones.

You can purchase flood insurance anytime, but there's usually a 30-day waiting period before the coverage becomes effective. However, exceptions exist, such as when purchasing insurance for a new loan, where the waiting period may be waived.

Florida does not mandate windstorm insurance, but many homeowners in coastal and high-risk areas must have it as a condition of their mortgage, especially if they're located in designated windstorm-prone regions.

Windstorm is a type of peril or event typically covered by homeowners’ and property insurance policies. Hurricanes are included in windstorm coverage, but typically have their own deductibles.

Windstorm insurance explicitly covers damages caused by wind-related events, while flood insurance covers damages caused by flooding from heavy rainfall, storm surges, and overflowing bodies of water. These are separate coverages and may require separate policies.

The state of Florida does not legally require a Business Owners Policy. However, depending on the nature of your business, clients, or lease agreements, a BOP can be highly recommended to protect your business assets and liabilities.

Yes, BOPs can often be customized with endorsements to tailor coverage to the specific needs of your industry. For example, a restaurant's BOP might include food contamination coverage, while a tech company's policy could include cyber liability coverage.

Yes, many BOPs include Business Interruption coverage, which can help compensate for lost income and ongoing expenses if your business is temporarily unable to operate due to a covered loss.

Yes, you can often add non-owned auto coverage to your commercial auto insurance policy, which provides liability coverage if an employee uses their personal vehicle for business purposes.

Yes, if you use vehicles for business purposes in Florida, you are required to have commercial auto insurance that meets the state's minimum liability coverage requirements.

Any vehicles used for business purposes, including delivery vans, trucks, company cars, taxis, limousines, and more, should have commercial auto insurance.

General liability insurance is not required by law in Florida, but it is highly recommended for businesses. Some industries and contracts may require businesses to have this coverage to operate or secure contracts.

An occurrence-based policy covers claims that occur during the policy period, regardless of when the claim is filed. A claims-made policy covers claims made while the policy is in effect, regardless of when the incident occurred. Claims-made policies often require purchasing extended coverage for incidents that happened before the policy started.

General liability insurance can protect your business from financial losses resulting from lawsuits, medical expenses, and property damage claims. It can help cover legal fees, settlement costs, and medical bills.

Yes, in Florida, most employers with four or more employees (full-time or part-time) are required to provide workers' compensation insurance coverage. This requirement applies to employers with at least one employee in the construction industry.

Some individuals, such as sole proprietors, partners, and certain corporate officers, can elect to be exempt from workers' compensation coverage. However, they must file the appropriate paperwork to do so.

Workers' compensation insurance may cover mental health issues if they can be directly linked to work-related factors, such as extreme stressors or traumatic events that occurred on the job.

The main types of life insurance are: Term Life Insurance: Provides coverage for a specific period (term) and pays out a death benefit if you pass away during that term. Whole Life Insurance: Offers coverage for your entire life and includes a savings or investment component called cash value. Universal Life Insurance: Combines a death benefit with a flexible savings component and offers more investment options than whole life insurance.

Life insurance premiums are determined based on factors such as your age, health condition, lifestyle, the type and amount of coverage you choose, and the duration of the policy.

Most life insurance policies cover death from all causes, with some exceptions. Suicide may have a waiting period (typically one or two years) before being covered by the policy.

While health insurance is not required by law for individuals in Florida, having health insurance is highly recommended to ensure access to medical care and to protect yourself from unexpected healthcare expenses.

The main types of health insurance plans include: Health Maintenance Organization (HMO) Preferred Provider Organization (PPO) Exclusive Provider Organization (EPO) Point of Service (POS) High Deductible Health Plan (HDHP) with Health Savings Account (HSA)

Yes, if you meet certain income and household size requirements, you may be eligible for subsidies through the Health Insurance Marketplace that can help lower your monthly premiums and and out-of-pocket costs.

Florida's minimum required auto insurance coverage is often referred to as "10/20/10" coverage, which means: $10,000 in Personal Injury Protection (PIP) coverage per person $20,000 in PIP coverage per accident $10,000 in Property Damage Liability (PDL) coverage per accident

Personal Injury Protection (PIP) coverage, also known as "no-fault" insurance, provides coverage for medical expenses and certain other costs related to injuries sustained in an auto accident, regardless of who is at fault.

Comprehensive coverage protects damages to your vehicle that are not caused by a collision, such as theft, vandalism, natural disasters, and more. Collision coverage pays for damages to your vehicle caused by a collision with another vehicle or object, regardless of who is at fault.

The state of Florida does not legally require boat insurance, but some marinas, lenders, and situations (like financing) may require you to have boat insurance. It is highly recommended to protect your investment and cover potential liabilities.

Yes, boat insurance typically includes liability coverage that can help protect you if you are responsible for causing bodily injury or property damage to others while operating your boat.

Factors that can influence boat insurance premiums include the type and value of the boat, its age, its horsepower, where it will be used and stored, the boating experience, and the coverage limits you choose.