For most Florida residents, buying a home represents the absolute largest
investment they will ever make in their lives. Depending on where you
live, even a modest single-story household can cost well over a million
dollars. To protect that investment, essentially all homeowners will choose
to purchase one
homeowners’ insurance policy or another. But do they have to?
Recommended But Not Required
Florida law does not have any statute that requires homeowners to purchase
homeowners’ insurance. You will not get into any legal trouble if
you own a house without it. You are probably going to land into financial
troubles, however, if you forgo insurance. In this regard, it is
not required but it
is highly recommended.
With a fairly priced and appropriate homeowners’ insurance policy
in place, you can rest easier knowing that your life’s greatest
investment has a bit of a financial shield around it. If something goes
wrong and causes major damage to the property, you won’t be completely
out of luck. In Florida, with the threat of
hurricanes tearing across the landscape each year, it is no wonder that most homeowners’
decide to get insurance without any convincing necessary.
Why Do Some Not Insure Their Homes?
Some people do not buy homeowners’ insurance because they cannot
afford the extra monthly expenditure. This is a pretty rare situation,
though, since few who don’t have the finances for homeowners’
insurance will be willing to put down a large sum on a home. The more
common reason why people don’t insure their houses is that they
don’t trust insurance companies. Such concerns are certainly not
Unreliable and dishonest insurance companies – from small businesses
to nationwide corporations – are notorious for trying to sell their
customers short at every opportunity. All in the name of a better bottom
dollar, these companies put their own interests before those of the people
they insure. The result is unexplained and unfair claim denials that require
legal action to sort out.
If you have been denied a homeowners’ insurance claim and you believe
it was unjust, call
305.770.6838 and speak to a Florida homeowners’ insurance attorney from Cohen
Law. We bring compassion, knowledge, and experience to each case we handle
and always keep your best interests in focus.
Free consultations are available.