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The Different Types of Homeowners’ Insurance in Florida

Homeowners’ insurance is a type of property insurance that covers damage to your home, the contents, and inhabitants. Most homeowners elect to obtain homeowners’ insurance coverage so that their home is protected in the event of a disaster.  Some banks additionally require homeowners to obtain insurance before they will finance a mortgage.

The amount of coverage you obtain will depend upon your location and the price of your home.  Most policies are capped, which means they will not pay damages past a certain amount, but this cap is set by you.  Standard policies include:

  • HO-1: This basic insurance policy covers just that, the basics.  It will cover damage related to fire, windstorms, lightning, theft, riot, vandalism, and smoke.  Coverage will come with limits.  Those who obtain this coverage should carefully review their policy as many things will not be included. You will usually have to name specific objects to be covered, rather than the entire house.
  • HO-2: This policy is slightly broader than the basic HO-1 and will include six additional perils: snow and ice, damage from falling objects, freezing of plumbing and damage caused by faulty electric or heating systems.  It will generally only cover certain portions of the house. 
  • HO-3: This is the standard policy held by most homeowners.  Unlike the previous two policies, it does not name specific perils that it protects against, but rather names exclusions of things it will not protect.  This policy will protect the home, structure, and often its contents as well as liability that stems from visitors who injure themselves on the property.  Flood, hurricane, earthquakes, and more are almost never covered.
  • HO-4: This is commonly referred to as renter’s insurance.  It offers much of the same protections as in HO-2, but does not protect the actual home as you do not own it.
  • HO-5: This policy expands upon the standard HO-3 policy, offering greater liability coverage and broader protections.
  • HO-6: This policy is made for those who own a condominium or a co-op.  It will cover personal property and liability coverage, but does not cover the entire structure as the building will have its own policy.
  • HO-7: This is basic mobile home protection, but generally excludes liability coverage which can be purchased separately.
  • HO-8: This insurance is designed for historical homes and it lets home owners with higher replacement costs than the market value to insure their homes at lower rates.

Why Do I Need a Homeowners’ Insurance Attorney?

You will not usually need an attorney when purchasing homeowners’ insurance, though one can certainly assist you in selecting the best policy, but you will need an attorney when you actually file a claim or become involved in a dispute.  Many insurance companies will automatically deny claims when they are submitted the first time, which means that you will need the assistance of an attorney to fight for the coverage you deserve.

Greenberg Stone and Urbano:  Homeowners’ Insurance Attorneys with Over 130 Years of Collective Experience!

If you need assistance with any homeowners’ insurance issue, contact the Miami Homeowners’ Insurance Attorneys at Greenberg Stone and Urbano  We have over 130 collective years of experience representing homeowners in need across South Florida.  Our firm offers the dedication and knowledge you need to successfully resolve your homeowners’ insurance matter.  We have been honored with a coveted AV rating from Martindale Hubbell and the Miami Herald recognized us as a top firm in South Florida.   Allow our outstanding attorneys to provide you with superior legal services in the South Florida area.  Call us at (888) 499-9700 or (305) 595-2400 or visit our website to schedule your initial consultation.


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