Park & Associates Inc Blog: homeowners
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Wednesday, June 2, 2021A flood is considered to be rising water coming from the outside in; whether caused by excess rain, storm surge, lake rise, etc. Flooding is not generally covered by homeowners insurance and you need specific flood coverage to be protected, when a flood occurs. Flood insurance rates in low to moderate flood zones are very affordable. READ MORE >>
Tuesday, March 2, 2021Homeowners may think their policy offers coverage for all damages. This is a misconception and there are some key areas where you may need a separate policy or an endorsement to be fully protected. The most common is flood coverage. Unless you can endorse flood on your homeowners policy, a separate flood policy is required. READ MORE >>
Friday, August 28, 2020To wrap up the last part of this series, I want to focus our attention to some of the most important coverages not yet discussed as it relates to your HOA… Directors & Officers (D&O), Crime, and Workers Compensation Insurance. READ MORE >>
Friday, August 21, 2020“Why do I need to have insurance if my association already has insurance?” is one of the more common questions we hear those living within an association ask. There are a few answers to this question: The associations insurance generally covers common areas and commonly owned association property only – this does not include your individual home. READ MORE >>
Thursday, August 13, 2020First things first. Let’s define what a homeowners association actually is. Under Florida Statute 720.301 Section 9, a homeowners association, means “a Florida corporation responsible for the operation of a community… in which the voting membership is made up of parcel owners&h... READ MORE >>
Thursday, April 2, 2020Do you feel like your homeowner insurance premium is always on the rise? To help you better understand why, here are some of the reasons: Even though, we did not have any major hurricanes in 2019, Florida home insurance rates continue to reflect the damage from Irma which hit the state in September 2017 and caused $11. READ MORE >>
Monday, February 10, 2020The largest difference between the two types of policies are that an HO3 policy is specifically for a house that is owner occupied and an HO6 policy was created for a condo unit owner. The HO3 policy is a mixture of named perils and open perils coverage. The HO6 policies tend to be fully named peril policies. READ MORE >>
Wednesday, October 30, 2019When purchasing homeowner’s insurance, one of the main considerations is determining how much coverage is needed for the structure. Insuring your home at replacement cost is recommended and should not be insured based on the market value. Market value is the value of the home including the land which is not covered by the policy. READ MORE >>
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