It is hard to generalize the coverage residents across the state of Florida require to adequately protect their assets. Some places are more vulnerable than others, especially the coastal areas where hurricanes make landfall and low lying regions that are prone to flooding. There are many places including major cities where the average cost of insurance is higher than rest of the state. Some places do not have as many insurers offering adequate coverage so the options may be scarce. Plenty of factors will come into play when you have to decide the coverage you need for your home insurance in Florida.
Typically, you should be looking at over a hundred thousand dollars of liability coverage in your Florida home insurance policy. This is the minimum. Most Floridians will need liability coverage between three hundred thousand dollars up to half a million dollars. You need enough coverage depending on the cost or value of your home to pay for repairs and in the rare instance when you may have to rebuild your property. You should also have enough coverage to replace the loss of personal assets, commodities or contents in your home. The usual coverage includes any loss caused due to theft and damage to the structure of the property caused by flooding, leaks and water discharge or fallen tree, fire and storm.
In Florida, you want more than standard coverage.
Standard policies will cover dwelling or property, associated structures such as garage and shed, even if they are detached from the main property or house, any personal property that you declare and there would be preset amounts of coverage for temporary living expenses if you cannot stay in your house during repairs or reconstruction, any liability claims you may have to take care of and medical expenses. If you own a condo or an apartment then you would be paying a proportionate part of the premium for the insurance policy for the whole property or building. This may include the entire premise of the residential complex. You may want a separate policy for some personal assets.
You should find out the excesses or deductibles applicable in the policies you are considering. If you go for more deductibles or excesses then you can pay much less premium for the same coverage as compared to policies that have little or no deductibles or excesses. Always ensure there is enough coverage against flooding, hurricanes and tornadoes, even wildfires. It is futile to have home insurance in Florida if you do not have such comprehensive coverage.