05/28/2025
:::Consumers Beware:::
As a consumer, especially in Florida, your choices in hoemowners insurance are limited. Making things more difficult are ever increasing rates, and policies becoming more restrictive. Most agents aren’t even aware of the details in the policies they are selling.
It’s crucial to review all the details in your policy to make sure you are adequately covered from a devastating loss.
One major restriction we are seeing in Florida policies are a 1% matching policy. This means your insurance coverage is only providing 1% of your policy limit in the event of a loss where matching of items is necessary to provide a uniform appearance. An example would be if a pipe breaks under your kitchen sink, damaging one cabinet. However, due to style, appearance, fading, etc, they all must be replaced to create a uniform appearance, the policy is only paying 1% of the policy limit towards replacement of the non-damaged cabinets. This often times will not come close to the replacement cost of the cabinets, potentially leaving you with thousands of out of pocket costs.
This is why it’s important to have a qualified insurance agent, with detailed knowledge of your policies to provide you an insurance policy that suits your needs.
If RIF Services Consulting Group can ever be of assistance, we provide appraisal, inspections, and mediation services to homeowners.
