Charmaine Sample: Alright, so we’re sitting here with Marc Rovner of Rovner & Company for our Tell-All Tuesdays series where he answers the top five insurance questions and this week, we’re focusing on homeowners insurance questions. How are you, Marc?

Marc Rovner: Wonderful, how are you?

Charmaine: I’m great, thank you. So, first off, how does homeowners insurance work?

Marc: Pretty simple. If somebody’s got a home, most likely if they have a mortgage on it, they’re required to have insurance on it. The insurance coverage will include property coverage so in the event that the home gets damaged by fire or hurricane or something along those lines, they’ll have protection for the structure as well as the contents within the home. There’s also a liability component which would protect them in the event somebody sued them as a result of a claim, slip & fall, or that sort of thing. 

Charmaine: What does homeowners insurance cover?

Marc: So homeowners insurance will cover you for what I just mentioned. It’ll cover you for both the structure of the home as well as the contents within the home and it’ll cover you for liability as well. Depending on what type of policy you buy and how robust it is will determine how broad that coverage will be. 

Charmaine: Can homeowners insurance be transferred to a new owner?

Marc: No. Typically there are a lot of drivers as to the premium of a homeowner’s policy. So one of them will be your insurance score which is closely aligned with your credit score although not directly aligned. When somebody acquires a new home, even if they go to the same company as the previous owner, they get their own unique policy. 

Charmaine: Are homeowners insurance and hazard insurance the same?

Marc: They can be synonymous. The hazard insurance would be referring to a personal lines policy like a homeowner’s policy or it could also be referring to a commercial lines deal but the answer is yes, they can be. 

Charmaine: What happens when homeowners insurance is canceled?

Marc: Then you give us a call and we try to sort you out. Essentially, with most carriers, there are only a few reasons why your policy would cancel. One of the typical reasons would be nonpayment of premium so, obviously, if you neglect to pay your premiums, the carriers will take that as an opportunity to cancel the policy. Other scenarios could be something like a failure to comply with mandatory recommendations. For example, if you have something that’s dangerous on your property and you neglect or decline to accept the carrier’s recommendation to remediate that issue then they can cancel the policy. Ultimately, oftentimes we find carriers who really non-renew policies that become non-profitable at some point in time. Usually, a nonrenewal happens upon the expiration of the policy contract and not midterm. 

Charmaine: Can Rovner & Company help with homeowners insurance?

Marc: Absolutely. We talked about some of the things that homeowners cover but we neglected to discuss what it did not cover. Homeowner’s policies do not cover flood insurance and in very many cases it does not cover wind insurance. We have the policies that can cover wind and we have both the FEMA and non-FEMA products that can handle the flood. We also have specific products that can meet your requirements be it a high-value home, coastal, or high losses. We handle all those things and we’d be happy to help. Give us a call, 561-287-6279.

Charmaine: Alright, thank you so much, Marc.

Marc: You’re welcome.


Give Rovner & Company a call for help with any of your personal or commercial insurance needs. We offer FREE QUOTES and a wide range of carriers to meet your individual needs. Call into the office to speak to a qualified agent at 561-287-6279! 


Marc Rovner

Rovner & Company, LLC

11098 Biscayne Blvd, Ste 100

Miami, FL 33161