You’ve worked hard for everything you own, and we want to help you protect it.
Not only does having adequate insurance for your property protect you financially, but it also provides peace of mind. You can enjoy a vacation worry-free and know that you’re covered if there’s another hurricane that bodes destruction.
At Sikora & Moore, we have 70 years of combined experience in the insurance industry. We advocate for our clients and help them secure the most comprehensive coverage at reasonable prices.
The sunshine state is arguably the best and most beautiful state to live in, but it can come at a price. Florida homeowners are paying double the national average for their insurance. Even though the cost of an insurance policy depends on a variety of factors, Florida’s frequency to weather natural disasters has caused a spike in policy prices.
State regulation has also affected insurance rates, and they have risen dramatically. As a result, it is more important than ever to work with an experienced insurance agent that will find a plan that fits your coverage needs while staying within your budget.
With over 70 years of combined experience, Sikora & Moore is skilled at matching homeowners with the perfect policy. We understand that each homeowner might be looking for something unique to their situation. For example, there are policies better suited to new homeowners, green homes, and individuals concerned about replacement coverage.
Sikora & Moore will provide you with a competitive quote to meet your needs, and we can also work with you on ways to lower your overall rates.
If you live in a condominium, then your HOA (Homeowner’s Association) will already have insurance. However, most policies only cover the common areas and outside portions of your property. For example, your roof might be protected in the event of a severe storm, but the inside of your condo won’t be. If there’s damage to your walls, flooring, appliances, etc., then the condo owner bears the financial burden.
Condo insurance also covers the owner for break-ins and injuries sustained in the home by a guest.
The rates for condo insurance are typically much lower than a standard homeowners insurance policy. This is because the condo association usually already has coverage for the building and common areas, decreasing the amount of coverage that a condo owner needs.
In states where floods are a frequent occurrence, (Florida is a prime example), flood insurance usually isn’t covered in a standard homeowners’ insurance policy. Further, depending on your lender, you may be required to purchase flood insurance to protect your home. This requirement is most prevalent if your property is in a flood zone that’s been rated moderate to high risk.
Flood claims aren’t reserved solely for a traditional flood. Surges and hurricane winds that cause flooding can cause catastrophic damage that typically isn’t covered by FEMA unless the government declares a federal emergency. FEMA assistance is also limited, and often, the grants aren’t enough to cover the damage, further warranting the need to carry private flood insurance.
The rates for flood insurance vary widely, so working with an experienced agent is crucial to get the best deal. Homes used as rental properties or that aren’t occupied at least 50% of the year can also be subject to higher rates. These two scenarios are common among Florida homeowners, so we encourage you to work with a company that can secure the best flood insurance prices without compromising coverage.
Rental Property Insurance
If you don’t live at the residence and plan on renting it out the majority of the year, then a rental insurance policy is preferable to a homeowner’s insurance policy. Though the concept and coverage are similar, a rental property policy (also called landlord insurance) also covers scenarios unique to landlords. One crucial example is the loss in rental income a landlord faces in the event of a disaster that makes the home unlivable.
It’s important to note that rental property insurance doesn’t cover your tenant’s belongings, and we recommend encouraging tenants to purchase renters insurance. It does, however, provide coverage for belongings you’ve left at the home, such as a lawnmower, barbecue, etc.
Valuable Articles Insurance
Though a standard homeowners policy will cover all of your monetarily valuable items present in the home, there is often a cap. The payout limits may not be satisfactory if you have especially valuable or priceless items such as jewelry, art, antiques, musical instruments, sporting equipment, etc.
Because of the limited coverage for personal belongings, we recommend a valuable articles insurance policy for any homeowner that has valuables exceeding typical coverage limits.