Homeowners Insurance in Miami, FL

At Las Margaritas Insurance Corp, we understand that Miami residents need coverage that accounts for our specific regional risks while keeping their investment secure.

What Is Homeowners Insurance?

Homeowners insurance is designed to offer financial support when unexpected events affect your property. Unlike other types of insurance focusing on specific risks, home insurance creates a broader approach to handling various situations homeowners face. This coverage helps ensure you can focus on enjoying your home rather than worrying about potential financial setbacks.

Understanding the 80% Rule in Home Insurance

The 80% rule is crucial to how insurance companies handle property claims. In short, insurance companies typically require you to insure your home for at least 80% of its total replacement value.

If your coverage falls below this threshold, your insurer may only pay a portion of your claim—even for partial losses. For example, if your home’s replacement value is $400,000, you should maintain at least $320,000 in coverage to potentially ensure full claim payment.

This rule becomes particularly important in Miami‘s dynamic real estate market, where construction costs and property values frequently change. Regular policy reviews help ensure your coverage keeps pace with increasing property values and construction costs in our area.

Your agent may recommend adding an inflation endorsement to your home insurance policy to help maintain appropriate coverage.

Secure Your Miami Home

Contact Las Margaritas Insurance Corp for home coverage that fits your property’s unique needs. Our experienced team understands Miami’s specific insurance requirements and can help you find the right coverage at competitive rates. Visit our office or call today to learn how we can help you maintain proper coverage under the 80% rule.