Property Insurance
Property Insurance provides protection against most
risks to property, such as fire, theft and some weather damage.
There are several types of property insurance, including hazard, flood, wind,
liability, etc.
Most lenders will require that property be insured as a
condition to finance a loan over the property. As of January 1, 2009,
Florida laws also require that condominium units be insured by their owners
individually to lower or stabilize insurance premiums for associations, as per
Florida Statute 718.111 (11). Therefore, if you own a home that
is mortgaged or you own a condominium unit, whether mortgaged or not,
you need to obtain property insurance.
To
determine what type of property insurance you need, you should contact Real
Estate Attorney Ingrid Santamaria, who is also an insurance agent, so that she
can explain the different types of insurance and help you determine your
property insurance needs. If you have any questions regarding
property insurance or finding an insurance agent, please do not
hesitate to contact our office so that we may help you with your property
insurance needs.