Homeowners insurance is usually written for one home and one homeowner. The same way you can’t insure various homes in Fort Lauderdale, FL using the same insurance plan, you cannot buy several policies for one home. Duplicate policies will create legal confusion when you are filing a claim on your property.
Even if you have multiple policies for your home in effect, it would be impossible to get coverage from all insurers, and it will become a chore to get any of the companies to settle a claim. When you have two homeowners insurance plans at the same time, you will be giving the insurers a legal loophole whereby they can deny that the claimed responsibility rests with another company. What’s more, if you try filing a single claim with the companies, you may end up losing both policies, and they can charge you with insurance fraud, a severe crime.
What should you do if you have more than one home?
You need to get a separate insurance policy for every home you own. In this case, you will have as many policies as the homes you have. Coastal Wealth Insurance, LLC is one of the companies you can rely on when you need insurance coverage for your various homes. Remember that there are some insurance options you can explore to reduce coverage rates, for instance, declaring one of your homes to be a vacation house. Additionally, your home insurance can be reduced to landlords insurance if you choose to rent out any of your homes. Keep in mind that the landlord insurance doesn’t cover liability for residents and their personal properties. Although it’s impossible to combine the insurance policies for all your Fort Lauderdale, FL homes in one single policy, you can get different home policies from one insurer.
Would you like to get homeowners insurance policies for your multiple homes? Contact Coastal Wealth Insurance, LLC for more information. We can get you a quote and answer your questions.