Looking for homeowners insurance Tampa residents can count on? Cornerstone Insurance is here to help. We are a family-owned independent Tampa insurance agency serving the residents of Florida with all their personal insurance needs. We work with some of the top A rated home insurance carriers in the state, including:
In recent years, many carriers have non-renewed or are no longer issuing new policies in the state. As a result, the homeowners insurance Tampa residents have to choose from has become more limited.
At Cornerstone Insurance, we have investigated and vetted the insurance companies still writing and selected to represent only the top rated and most experienced carriers of the group. This gives our clients the assurance of knowing that their home and property is protected by an insurance company that is financially stable and ready and capable of paying claims if a disaster occurs.
Proper Dwelling Coverage: When shopping for home owners insurance, Tampa residents often make the mistake of using the purchase price of the home as the basis for the amount of coverage they request. Often times, the purchase price of the home is not the same as its replacement cost. This is especially true if the house was purchased several years ago. As building codes change and inflation pushes up the price of materials and labor, replacement costs tend to become higher than purchase price or even market value. Make sure you are dealing with an agent that understands these differences, and will write you a policy with adequate coverage to replace your dwelling in the event of a total loss.
Extended Replacement Cost in Case of Disaster: If a major disaster strikes your area, it is wise to carry extended replacement cost on your homeowner policy to account for a possible spike in material costs to rebuild the home.
Adequate Liability Coverage: Make sure you have high enough individual liability limits in case someone is injured on your property and submits a claim against you. In general, you should have at least enough to match your financial net worth. If net worth exceeds the maximum liability coverage of the homeowners insurance, Tampa residents should consider an umbrella policy to give them the additional liability coverage they need.
Hurricane Deductible that Fits Your Budget: Most home insurance policies in Tampa, FL have a 2% hurricane deductible. This means that if your home is insured for $100,000, you would be responsible to pay the first $2,000 out of pocket due to hurricane damage. The higher the deductible, the lower your annual premium, but make sure you can afford to pay that deductible if a hurricane ever does damage to your house.
Flood Insurance: The standard home insurance Tampa residents buy does not include flood insurance. So if your dwelling is ever damaged by a flood, you would be responsible to pay the costs directly out of pocket. To make sure you are fully covered, it is wise to purchase additional flood insurance for your home.