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What is personal property?

Regardless of who is at fault, this coverage pays medical expenses for others accidentally injured on your property. Medical Payments coverage does not apply to you or members of your family who live with you. Like Personal Liability it also does not apply to injuries arising out of the operation of an auto or from activities involving your at-home business.

Coverages
What does the “Assumption Date” mean?

Assumption date refers to the date Florida Peninsula assumes responsibility for managing any losses affecting the insured property. Until you receive a renewal from Florida Peninsula, you should contact your agent or Citizens for policy changes and payments.

Citizens Takeout
How do I make a policy payment?

Any payment due prior to your Citizens policy expiration date, should be paid to Citizens. Your agent is the best source of information if you are unsure of where to send a payment. You may also contact Citizens customer service for payment questions. Once you have received a renewal package from Florida Peninsula Insurance Company, payments can be made online at www.floridapeninsula.com upon registering your policy and creating a username and password. You may also contact our Customer Service Department or your agent for assistance in processing your payment.  We accept all major credit cards and have 4 convenient payment plans available to meet your budgetary needs.

Citizens Takeout
Why should I select Florida Peninsula as my new homeowner's carrier?

Florida Peninsula has been serving and protecting Florida families over the past 15 years. In addition to repairing homes from common occurrences like pipe breaks and theft; we have helped thousands of families recover from 5 major hurricanes which have impacted our state since 2005. We specialize in Florida home insurance and understand the risks Floridians face. Our team of dedicated professionals and comprehensive coverage options along with our Florida specific experience make Florida Peninsula the right choice for your family and home.

Citizens Takeout
What is Florida Peninsula’s experience when it comes to handling claims?

Florida Peninsula Insurance Company has operated successfully in the State of Florida since 2005. During this time, we have helped Floridians recover from major hurricanes which impacted the state.  We have done this by maintaining a robust surplus and procuring several layers of reinsurance to support forecasted claims, even in years where multiple events may occur.

Citizens Takeout
Claims and Damages
What's the right amount of insurance for my home?

Your Home Insurance Coverage should match the value of your home. Homeowner's insurance cannot cover the land your home is on, only the structure. That means that the insurance amount could be less than the purchase price or loan amount. If you insure your house for $100,000, that´s the most you will get if it is destroyed, even if it would cost more to replace it. The Declarations Page on the front of your policy shows how much coverage you have. Talk with your agent or company representative if you have any questions about your insurance limits.

Replacement Cost
What is covered under identity theft coverage?

An Identity Theft policy reimburses the policyholder for money spent on reclaiming and repairing their financial identities and credit rating. These costs often include legal assistance, phone bills, and office expenses that can lead to thousands of dollars.

Identity Theft
How do I accept the Florida Peninsula Offer?

Joining our family of policyholders is easy, you may either contact your agent directly and ask for their assistance or make your selection online at www.citizensfla.com/online-choice.

Notes:

  • If you are making your submitting your choice online, please have your Citizens policy number and the registration code listed on the enclosed Policyholder Choice Offer Form on hand.
  • If you do not make a selection, Citizens will assign your policy to the private-market carrier of their choice, on your behalf.
Citizens Takeout
Will my lender be notified of your Takeout/Assumption of my policy?

We will mail a copy of your renewal to the designated lender/mortgage company listed on your policy.

Citizens Takeout
How much is flood insurance in Florida?

In Florida, the average cost of a flood insurance policy is $562 per year, when purchased through the National Flood Insurance Program. The cost of a flood policy is dependent on the location and elevation of the property, building materials, and distance to a lake, river, levee, or ocean.

Flood Insurance
Is it possible to maintain the same agent and will they earn commissions?

Your agent will remain the same, as Florida Peninsula has confirmed they are contracted with our company. In addition, they will continue to earn commissions from Florida Peninsula as your selected agent.

Citizens Takeout
What is medical payments coverage?

Regardless of who is at fault, this coverage pays medical expenses for others accidentally injured on your property. Medical Payments coverage does not apply to you or members of your family who live with you. Like Personal Liability it also does not apply to injuries arising out of the operation of an auto or from activities involving your at-home business.

Coverages
Why are contents replacement cost coverage and building replacement cost coverage so important?

Replacing your home and your furnishings, clothing and other possessions could be very expensive. Contents replacement cost is a critical part of your homeowners coverage. Why? If your television is stolen, your standard homeowners policy would cover the purchase price less depreciation applied to the stolen set. Under a policy with replacement cost coverage you are covered for the cost to replace the set. You do not have to worry about depreciation or inflation. Most of your personal property may be covered. However, antiques and rare items are subject to the actual cash value provisions of the policy.

Coverages
Replacement Cost
Is there a waiting period for a flood policy?

Yes, if the flood policy is purchased through the National Flood Insurance Program (NFIP) a 30-day waiting period applies. Should you qualify for a private policy, the rate can be significantly lower with no waiting period.

Flood Insurance
Is flood damage covered in a homeowners policy?

No, a standard homeowners policy does not cover damage resulting from flooding, often referred to as rising water.

Flood Insurance
Is storm surge covered in my homeowners policy?

No, storm surge is considered “rising water” and damage resulting from storm surge is only covered by a flood policy, not a homeowner’s policy. If you live near a body of water which often rises when a storm threatens, a flood policy is a must.

Flood Insurance
Can I get federal assistance if my home is damaged by a flood?

Federal assistance is not guaranteed and requires an approval process. Additionally, federal assistance is almost always extended in the form of a low interest rate loan which must be repaid.

Flood Insurance
What is the difference between replacement cost of my home and actual cash value?

The replacement cost of your home is how much it would cost to replace your home and its contents with new materials at current prices in the event of a loss. Actual cash value (ACV) is the value of your property at the time of a loss. ACV may be determined as the replacement cost minus depreciation.

Replacement Cost
Do I need flood insurance if I am not in a flood zone?

Flood insurance is highly recommended for every homeowner in Florida, as our State is surrounded by water and very prone to flooding. Over 1/3 of all individuals seeking Federal Disaster Assistance for flood events do not live in a designated flood area.

Flood Insurance
Who do I call to make a claim?

Should a loss occur prior to the assumption date, Citizens will be able to assist you with filing the claim.  After the assumption date you may file your claim with Florida Peninsula by calling 866-549-9672.

Citizens Takeout
Claims and Damages
Who else is covered under my homeowner's policy?

In general, a homeowner's policy will have a named insured, which is usually the owner or tenant named on the deed or lease. The named insured's spouse is covered as well, even if he or she is not named on the policy declaration. Other users and residents also may be covered to a lesser extent by the personal property and liability provisions in the policy.

Homeowners Insurance
Coverages
Am I required to let the insurance company inspect my home?

Yes.  Inspections are conducted in an effort to identify any possible dangers or risks to the homeowners.  Any issues detected will be communicated to the policyholder and agent to ensure the proper steps are taken to maximize the safety to the homeowner and their family.  Florida Peninsula inspects 100% of the homes we insure.  In the event an interior inspection is needed, a mutually agreeable time and date will be coordinated with the owner.

Homeowners Insurance
Condominium Insurance
Renters Insurance
I have a very valuable piece of jewelry. Is this covered by my basic policy

If you own a item of specific value, you can add an endorsement, called Scheduled Personal Property (SPP), which acts like a mini-insurance policy on the specified and listed item or add Extended Coverage, which increases protection on jewelry, watches and furs (up to an aggregate limit for all of these items together which is specified on your policy). Both provide all-risks coverage (except for a few exclusions). Many people get extra protection on jewelry, cameras, coin and stamp collections, fine arts, furs, golfing equipment, guns, musical instruments, outboard motor boats, and silverware/goldware.

Coverages
What is the difference between identity theft protection and identity theft insurance?

Identity theft insurance provides restoration services in the event your identity is stolen and provides coverage to pay for many of the expenses incurred from resolving the breech, unlike identify theft protection.

Identity Theft
Why was my Citizens Policy selected for Takeout/Assumption?

Designed to be the “insurer of last resort”, Citizens only offers coverage to policyholders who cannot otherwise secure coverage with an admitted, private-market carrier. Citizens Property Insurance routinely will partner with private-market carriers to assist policyholders in finding alternate coverage whenever possible. It is very common for authorized private-market insurance companies to request and participate in Takeouts/Assumptions, in an effort to reduce the amount of Citizens policies.

Learn More About The Takeout Selection Process

Citizens Takeout
What is a Takeout/Assumption?

A Takeout/Assumption occurs when an authorized private-market carrier acquires or selects policies from Citizens Property Insurance Corp. (Citizens). Private-market carriers are approved by the Office of Insurance Regulation prior to participating in a takeout. In addition, we have taken steps to notify your agent we have selected your policy for assumption.

Citizens Takeout
Are private carriers allowed to Select the same policies for Takeout/Assumption?

Private-market carriers, such as Florida Peninsula Insurance Company, are all provided with the same information and data when selecting policies from Citizens for Takeout/Assumption. It is possible for a policyholder to receive multiple offers from different carriers. This provides you an opportunity to speak with your agent about which company is best for you.  Only one carrier may assume the policy.

Citizens Takeout
What is identity theft?

Identity theft occurs when someone steals your personal information in an attempt to commit fraud. An identity thief will typically open credit cards or lines of credit, file taxes, or get medical services in your name without your knowledge. These activities will damage your credit and cost you time and money to rectify.

Identity Theft
How may I make policy changes?

Prior to your renewal date, making changes to your policy such as mortgagee changes or coverage changes can be made by contacting your agent or Citizens directly.  Once you have received a renewal package from Florida Peninsula Insurance Company, changes can still be made via your agent or by calling our customer service department.

Citizens Takeout
What coverage is right for you?

A little preparation goes a long way; and we want your coverage plan to fit your needs.  Investing a little of your time making a list of possessions, staying abreast of local building costs, and remembering to meet with your agent annually to review your policy, can help you customize a policy that fits your needs. Here are a few things to consider when outlining your coverage plan:

  • Have local building costs risen?
  • Has your home been remodeled or expanded?
  • Do you know what your insurance deductible is?
  • Do you have money set aside to cover the deductible if you have a loss?
  • Do you have an inventory of your possessions?
  • Do you need additional coverage for assets like jewelry, art collections, fur coats or other expensive items?
  • Do you need coverage for additional living expenses after a disaster?
  • Do you need flood coverage in the event water rises into your home from a lake or storm surge?
  • Do you require animal liability protection should your pet injure someone?
  • Do you need an umbrella or excess liability policy?
Coverages
Homeowners Insurance
Condominium Insurance
Renters Insurance
Is this the same coverage offered by my financial institution?

Unlike the coverage offered by many financial institutions, identity theft coverage pays for you to recover your identity (including a case manager or consumer fraud specialist) which is the long-term effect of this crime. Your financial institution can quickly recoup any monies you may have lost within a few days once your bank or credit card company are notified in most instances.

Identity Theft
I recently reviewed our home insurance policy after not looking at it for years. I am concerned that we are no longer adequately insured. How can we figure out how much home insurance we need?

You will need enough home insurance to cover the cost of the following: The structure of your home: To estimate the amount of insurance you will need to cover the structure of your home use our home insurance calculator. Your personal possessions: To determine the value of your personal possessions and belongings you should perform a home inventory. Additional Living Expenses: In the case that your home is damaged and you must live somewhere else while repairs are performed you will need coverage for those costs. A home insurance agent can help you determine the amount of additional living expense coverage you may need. Liability: Your liability to others for accidents that may happen at your home. A home insurance agent can help you determine the amount of liability coverage you need. Asking a licensed home insurance agent is always a great way to determine how much home insurance you need. They can help you determine specific coverage levels and discuss appropriate deductibles.

Coverages
Homeowners Insurance
Condominium Insurance
Is Equipment Breakdown Coverage an appliance maintenance policy?

No. Regular equipment age-related wear, deterioration, or corrosion is not covered. However, if wear and deterioration cause the covered equipment to have an “equipment breakdown”, that damage may be covered.

Equipment Breakdown
How do I add Equipment Breakdown Coverage to an existing policy?

Coverage may be added to the policy at anytime with agent assistance.

Equipment Breakdown
What is the Equipment Breakdown Coverage limit and deductible?

Equipment Breakdown Coverage has a coverage limit of $100,000 per occurrence with a $500 deductible

Equipment Breakdown
What is a DP-3 insurance policy?

DP-3 insurance policy, is sometimes referred to as a landlord policy. It is a type of insurance policy serving two main functions: to provide coverage on homes used as rental or investment properties and to provide protection on homes with older roofs more than 10 years old, which can otherwise be difficult to insure.

DP-3 and Landlord
What type of losses does landlord insurance cover?

A DP-3 policy provides broad protection against most adverse events, such as hurricane-force winds, lightning, hail, fire, vandalism, theft, and more.

DP-3 and Landlord
What if someone is injured while on my rental property?

DP-3 landlord insurance also offers liability and medical payments to others, which provides legal and medical reimbursement should you be found liable for personal injury or property damage occurring on the premises.

DP-3 and Landlord
As a landlord in Florida, what type of theft is covered by a DP-3 policy?

Florida Peninsula Insurance Company’s DP-3 landlord insurance covers theft of property from your rental, investment, or other property. This covers stolen items such as appliances, lighting, furniture, and more within the insured property. (Check the policy for exclusions).

DP-3 and Landlord
How does a DP-3 landlord policy compare to a standard HO-3 homeowner’s policy?

Well, for starters, the DP-3 will often be less expensive. This is because, in a landlord policy, we insure roofs at stated value – an agreed-upon price when the policy is bound. This is why a DP-3 is suited  for property owners with older roofs who may have difficulty qualifying for insurance due to the age of their roof.

Another primary difference between the DP-3 and HO-3:  the DP-3 policy is ideal for anyone with a Florida property rented to others. This type of policy is a great option for those who own property deeded in the name of an LLC, Trust, Partnership, or Corporation.

DP-3 and Landlord
What is homeowner’s insurance?

Homeowners insurance is an insurance policy that protects you financially in the event that your home and property are damaged in a covered peril, or in the event of a covered lawsuit.

Perils that are typically covered by a standard home insurance policy include fire, wind, lightning, hail and theft. While no one plans on losing their home or possessions to any of these perils, it unfortunately happens every day. Ask yourself this: If your home was ever destroyed in a fire, for example, how would you pay to rebuild your home? That's where your homeowner's insurance comes in.

Homeowners insurance protects the investment you have made in your home by providing you with coverage for specific hazards.

But your home insurance doesn't stop there. In the event that someone was filing a lawsuit against you for accidental damage you caused to their property, how would you pay for the costly legal fees? Standard homeowners' insurance also contains liability coverage that protects you and your family against lawsuits where another party finds you liable for damage to their property or person.

Typically, a standard home insurance policy includes the following coverage:

Standard Home Insurance Coverages

  • Coverage A – Dwelling
  • Coverage B – Other Structures on Your Property
  • Coverage C – Personal Property/Contents
  • Coverage D – Loss of Use
  • Coverage E – Personal Liability Protection
  • Coverage F – Medical Payments
Homeowners Insurance
What does homeowners insurance protect against?

Generally, homeowner's insurance will cover replacing your home and personal property up to certain limits. Most disasters are covered, but not earthquakes or flooding, and homeowner's policies do not cover the normal aging of your house. Homeowner's insurance also may include liability coverage, which covers personal injuries to other people that happen due to your negligence.On the declarations page provided by your agent, and within your policy, you will see the various coverage types identified as follows:

  • Coverage A - Dwelling — Pays for damage or destruction to your house and attached structures, such as a screen enclosure or carport.
  • Coverage B - Other structures such as a garage, deck or swimming pool.
  • Coverage C - Personal Property — Covers the contents of your house, including furniture, clothing and appliances, if they are stolen, damaged, or destroyed.
  • Coverage D - Loss of Use — Pays for additional living expenses if your home is uninhabitable due to a covered loss. Most standard Florida Homeowners Insurance policies pay 10% to 20% of the amount of your Dwelling coverage.
  • Coverage E - Liability — Protects you against financial loss if you are sued and found legally responsible for someone else's injury or property damage.
  • Coverage F - Medical Payments — Covers medical bills for person(s) injured on your property.
Homeowners Insurance
Why should you buy home insurance?

Homeowners insurance is necessary when you have a mortgage lender, however, should the unthinkable occur, this coverage will provide you peace of mind and financial stability knowing you can rebuild.

Homeowners Insurance
Condominium Insurance
Renters Insurance
How often should I review my policy?

Experts recommend you review your policy each time it comes up for renewal. Additionally, it’s a good idea to reevaluate your coverage as a result of the following situations:

  • Following a home renovation
  • When an occupant moves in or out
  • After purchasing a high-end luxury item
Homeowners Insurance
How can we figure out how much home insurance we need?

You will need enough home insurance to cover the cost of the following:

  1. The structure of your home: To estimate the amount of insurance you will need to cover the structure of your home please contact your agent.
  2. Your personal possessions: To determine the value of your personal possessions and belongings you should perform a home inventory.
  3. Additional Living Expenses: In the case that your home is damaged and you must live somewhere else while repairs are performed you will need coverage for those costs. A home insurance agent can help you determine the amount of additional living expense coverage you may need.
  4. Liability: Your liability to others for accidents that may happen at your home. A home insurance agent can help you determine the amount of liability coverage you need.

Asking a licensed home insurance agent is always a great way to determine how much home insurance you need. They can help you determine specific coverage levels and discuss appropriate deductibles.

Homeowners Insurance
How much does homeowners insurance cost?

The cost of homeowners insurance can vary tremendously depending on the amount of coverage you purchase and the part of the country you live in. The amount of coverage you purchase for your home can best be determined by a licensed and experienced insurance agent. They will calculate your premium based on the size and building type of your home, your liability protection needs and any endorsements or riders that need to be added to your policy.

Homeowners Insurance
I'm building a new home. Do I need to insure it while it's under construction?

You should consider insuring your new home during construction. Otherwise you may be exposing yourself to a great deal of risk if a fire, theft or other event damages or destroys your partially completed home.

Homeowners Insurance
What is Dwelling Coverage?

Dwelling coverage (Coverage A) is the portion of your home insurance policy that covers the cost of rebuilding /repairing your home in the event that it is damaged or lost in a covered peril such as wind, hail, lightening or fire. Separate policies are needed for damages and losses caused by earthquake and flood insurance as these are not covered under standard home insurance policies.

The amount of dwelling coverage that you should purchase should be enough to cover the cost of rebuilding your home in the event of a complete loss. Do not confuse this amount with the market value of your home, as the market value includes the value of your land. Remember that in the event of a disaster, your land will not be lost, only the buildings that stand on it. To determine the replacement value of your home please contact your agent.

Coverages
Homeowners Insurance
Condominium Insurance
How much dwelling coverage is needed?

The amount of coverage that you need depends on what it would cost to replace your home in the event of a total loss. The amount of coverage you purchase for your home can best be determined by a licensed and experienced insurance agent. They will calculate your premium based on the size and building type of your home, your liability protection needs and any endorsements or riders that need to be added to your policy.

Coverages
What is replacement cost?

Replacement Cost is the amount it would take to replace or rebuild your home or repair damage with materials of similar kind and quality without any deduction for depreciation.

Replacement Cost
Homeowners Insurance
I want to buy a condominium. Will my homeowner's policy be different from the one I had when I owned a house?

Insuring a condominium is different from insuring a house because of the way ownership is structured. A homeowner's policy covers against losses, and you can only suffer a loss if you have ownership. Because there are areas of common ownership in a condominium complex, your homeowners association may have a master policy. The extent of the coverage you buy will depend on what the master policy covers. The standard homeowner's policy for condominiums is called HO-6. It will likely cover your personal property, shield you and your family from some types of liability, plus pay to repair any portion of the unit you own under the terms of the condominium or cooperative documents.

Condominium Insurance
Why buy renter's insurance?

Just like homeowner's insurance, renters face risks of loss. Sure, since a renter does not own the dwelling unit, they do not risk the residence itself. As a renter, the greatest risk is damage to or loss of personal property. Renters can also be liable to third parties that are injured while at the residence. If you rent, insurance acts as a risk transfer device to protect you against a catastrophic loss. In exchange for payment of a premium, you transfer the risk of property loss and liability to third parties to an insurance company.

Renters Insurance
How long should I wait for the insurance company to handle my homeowner's claim?

Most individuals with insurance claims receive contact from the insurance adjuster within 48 hours after the claim is reported. The resolution period of a claim will vary, depending upon how extensive the damage from a catastrophe. Generally, the insurance adjuster will schedule a time to meet with the homeowner and adjust the loss.

Claims and Damages
Homeowners Insurance
What damage to my house would not be covered by my homeowner's policy?

It depends on the type of policy you own. But in general, unless you buy additional coverage, you won't be compensated for losses due to floods, earthquakes, nuclear accidents, wars, intentional damage, and normal wear and tear. Other exclusions may also apply.

Claims and Damages
Homeowners Insurance
How can I tell if I'm covered for damages caused by storms, bad weather or other severe weather?

Damages caused by windstorms, hail, hurricanes and tornados are covered in all homeowner's policies. However, some insurers may limit coverage of homeowners residing in hurricane prone areas. Additional coverage may be purchased for accumulating snow or ice may not otherwise be covered. Flood damage is not covered in any homeowner's policy and flood insurance must be purchased separately.

Claims and Damages
Flood Insurance
Homeowners Insurance
Condominium Insurance
Renters Insurance
Why is the insurance company not returning all of my premium after the policy was cancelled?

Depending on the type of policy, you may be required to pay a minimum premium, or the premium may be fully "earned." In other instances, if you replaced your coverage with a different company, during the policy term, you may be subject to a "short-rate" penalty.. You might also have some premium due for recent changes in coverage.

Premium
What type of losses does landlord insurance cover?

A DP-3 policy provides broad protection against most adverse events, such as hurricane-force winds, lightning, hail, fire, vandalism, theft, and more.

DP-3 and Landlord
Is loss of rental income covered in a DP-3 policy?

Yes! If you lose expected rental income after a covered loss, this policy can reimburse you, at fair rental value, for rental income you would’ve earned while the property is being repaired.

DP-3 and Landlord
We’re snowbirds and we occasionally rent out our Florida home for the 6 months or so when we’re not there. Will a landlord policy cover this property?

Absolutely! DP-3 policies specialize in providing coverage for just this type of scenario. To better understand if DP-3 coverage is the right choice for you, consult your local Florida Peninsula insurance agent today.

DP-3 and Landlord
I use Airbnb to rent out my Florida property – do I qualify for a DP-3 landlord policy?

Absolutely! You might use Airbnb, Vrbo, or one of the many other online platforms to rent out your property – and all are perfectly fine to use.

A limitation to obtaining a DP-3 landlord policy, however, is the property must be rented for minimum of 7 days and must be managed by a management company. Talk to your Florida Peninsula insurance agent to find out whether the DP-3 is right for you.

DP-3 and Landlord
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