Property Insurance Boca Raton

The experienced Florida insurance agents at The Gordon Agency routinely assist our clients in obtaining property insurance coverage.  Many people confuse this insurance with homeowner’s insurance.  These are two different types of insurance coverages that vary both in what they cover, who typically purchases them and their respective purposes.  Property insurance coverage is most often utilized by property owners where the home is not the primary residence.  We can and routinely do advise our clients as to the exact nature and type of the coverage provided by each respective type of insurance and when one type of coverage may be more appropriate than the other.  The Gordon Agency located in Boca Raton, Florida is here to help you meet all your insurance needs at the best price.  Our large network of financially stable insurers is an asset to our clients because they can rest assured that, no matter their particular situation, we will be able to obtain coverage for them at a price they can afford.

What Is Property Insurance?

Property insurance is a distinct type of insurance coverage that is different than homeowners insurance. It is most often utilized when the person that owns the property is not actually living there. It is focused on protecting the property itself. Thus, in some cases, property coverage may be the more appropriate choice for a policyholder who owns a property but not living there, while homeowner’s insurance coverage may be the better choice for people who own and reside in their homes since they need and should have a higher level of coverage.

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How Does It Differ from Homeowners Insurance?

At their core, both types of insurance cover the main living structures as well as structures attached to the main house, such as garages or decks. However, whereas homeowners insurance may provide certain other coverages, such as comprehensive liability protection for a variety of situations in which someone may come into the home and either get injured or suffer property damage, property damage insurance can be less comprehensive than typical homeowners or renters insurance in the scope of the liability coverage it provides. However, the entire purpose of this insurance is to protect the physical structure, so the lesser coverage it provides as compared with homeowners insurance may be exactly what the situation calls for. If you own a property that you do not live in, but you are instead renting out to a tenant, then it would make sense that your concern would be for the protection of the actual structure (which you own) rather than your tenant’s personal belongings (which you do not own) or protection for the tenant in the event someone is injured as a result of that tenant’s negligence.

What Property Coverage Is the Right Choice for You?

If you own a vacation rental, beach house or condo that is not your primary residence, property insurance coverage may be right for you.  As compared with homeowners insurance, this insurance offers more limited coverages but also lower premiums, given that you are looking for less comprehensive coverage than if you lived in the property.  This particular type of insurance coverage is perfect for situations where you may own a property, but you are renting it to a tenant either on a long- or short-term basis. Many landlords therefore opt for this type of coverage because it protects their investment in the physical structure they are renting out but does not provide the add-ons that may be necessary if they were living in the property themselves, such as protection against liability that may occur as a result of the tenant’s negligence or protection for the tenant’s personal possessions if he or she does something that results in their destruction.  As a property owner, having property damage insurance coverage ensures that you will have the protection you need in the event something occurs to that property you own, but you will not be paying for insurance coverage you do not need.

The Benefits of Using The Gordon Agency for Obtaining Your Property Insurance Coverage

The experienced Boca Raton insurance agents at The Gordon Agency can assist you in obtaining the coverage that you may need for a property that you may own but is not your primary residence. Our independence is a distinct advantage to you, our client, because we can shop your insurance application to a variety of different carriers and compare coverages and quotes in order to get you the best deal possible. You are not locked into the products and coverages offered by a single insurance carrier, but we can instead look to a variety of different carriers to find you the best coverage at the most economical price. This benefits our clients in need of insurance coverage at an affordable rate. If you are a South Florida property owner looking to procure property damage insurance coverage for a property that you may own but not reside at, contact our experienced insurance agents today for help in obtaining an often-misunderstood coverage.

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