Are There Different Types of Home Insurance?

Searching for home insurance but not sure where to start? Knowing the different types of policies that are out there is essential to making the right decision. Read our guide below to understand the different coverage options available to help make sure you get the best Florida home insurance policy for your needs.

Are There Different Types of Home Insurance?

There are several different types of home insurance to be aware of when you’re searching for a policy. Knowing the options available to you will help you find the best policy to meet your needs. Here are some of the common types of insurance that you’ll have to choose from.

Types of Florida Home Insurance Policies

Basic Policy

Basic home insurance policies are often the least expensive options, but in turn they offer you the most limited coverage. Still, they can be a good option for some homeowners to pursue. These policies typically cover incidents such as fire or weather damage from a windstorm or hail, as well as damage from aircrafts or vehicles. Theft coverage is also commonly included in policies such as these, giving you peace of mind if your possessions are taken from your home.

Broad Policy

A broad home insurance policy covers the structure of your home itself at replacement cost value, as well as the value of your personal property inside your home. This coverage also adds protection from a few different scenarios in addition to what a basic policy will cover. This includes coverage for damage caused by the sudden failure of a home appliance, as well as less common but severe scenarios such as a power surge or volcanic eruption.

Special Policy

While the name might suggest that this coverage is only used in special cases, a special home insurance policy is actually the most common type of coverage available. These policies protect your home and personal property from the scenarios included in the basic and broad properties, as well as coverage for a range of different scenarios. Everything from damage due to natural wear and tear to rare cases such as damage from government action is included in these policies.

Comprehensive Policy

Generally for high-net-worth properties in areas that are high-risk to insure, comprehensive home insurance policies offer an extra level of protection. They are similar to special home insurance policies in many ways, with a few key differences. For example, a comprehensive home insurance policy has a much higher limit on expensive personal property that can be insured, allowing cutting-edge electronics, high-end jewelry, and valuable art to be covered.

No matter what type of insurance policy you’re searching for, we’ll help you find coverage that meets all of your needs. We specialize in getting people comprehensive insurance coverage at the best rates possible, giving you the tools you need to find the policy that’s right for you. Get the help you need at Absolute Choice Insurance so you can be confident that your property has the protection it needs!


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