In the state of Florida, water damage to your home can occur in a variety of ways. Whether caused by heavy rains, a powerful storm, or a hurricane, leaks can lead to extensive water damage that can be costly to fix.
It’s a good idea to periodically review your homeowners’ insurance coverage and see what types of property damage are covered. The policy will probably include a list of property damage types, called named perils.
Fire damage can be extensive. Your homeowners or business property damage insurance should cover you no matter how severe the fire damage. Your policy should allow you to restore or rebuild your property after the fire. It should also reimburse you for living expenses while your home is being repaired and restored. In addition, business property insurance usually covers lost business income.
Whenever we think about damage from hurricanes and other natural disasters, we usually think of damage done to property. But property damage insurance claims are more complicated for Florida business owners. Business property insurance covers damage done to both the structure and contents of the property and it also covers lost business income.