Personal Condo Apartments occupied by Owner/Renter.
Policy forms HO6 - HO4
Checkup Financial is an independent agency providing various insurance programs. We have articles, videos, and on-line links to help you better understand which may be the best program to purchase in order to protect your investments or interests.
As the consumer you should never rely on an agent to assist you in explaining the entirety of your program. Always learn about how a program works before you purchase and make sure to read through the entire policy when you receive it by email or regular mail.
All polices carry exclusions and sometimes difficult wording about what they cover and how they will pay out when there is a loss. In property insurance, losses such as water damage may contain specific language of how they will cover the loss due to initial the cause of damage. It’s important for they buyer to understand these causes as in many cases buyers are more interested in a good price and forget to review the policy language.
Property insurance carriers all have a claims or loss department which can better explain the exact nature of the exclusions or intent of the policy than the agent who represents many different carriers.
In Florida State we are limited by the amount and quality of carriers due to the state laws and the past hurricane claims companies have paid out. A consumer should still look at the carriers ratings which may be rated by a smaller company than the typical AM Best. Any company below an A rating is one that should be avoided.
Citizens Insurance Company is a major provider in Florida State. It was created to provide property coverage by the state if any private carrier would not insure or provide a reasonable rate. Whenever possible it’s always advisable to pay somewhat more if necessary and obtain a private carrier.