Whether you own a Jacksonville Florida home, Ponte Vedra Beach Condo, or St Augustine townhome, your home is probably one of your most important assets. Insurance to cover this important asset is imperative. How much insurance should you purchase and what should you cover?

One option is guaranteed replacement cost homeowners insurance. Guaranteed replacement cost insurance will cost you more, but it covers a lot more. This policy will cover all of the costs to replace or repair your home and contents except the deductible. If your home is destroyed, this type of insurance policy will cover all of your costs. There are fewer limits on this type of policy because complete coverage is clearer. Guaranteed replacement cost insurance will definitely provide you with more coverage, but the premiums will be higher. 

Floods and earthquakes, while being common causes of damage, are not usually covered by these policies. Special insurance or riders must be purchased to cover losses from these causes.

Several great websites to explore this subject are:

Homeowners Insurance 101     -  This Old House

Insurance Information Institute’s – How much homeowners do I need?

The New York Times’s article on Home Insurance: Replacement Policies Have Lots of Fine Print

The Consumer Reports.org article on Home-Insurance Traps

When purchasing a new Northeast Florida home, condo or townhome, one of the expenses you need to take into consideration is the cost of homeowners insurance for your new Florida home.