Always discuss the details with your insurance agent.

Insurance policy coverage limits should represent the property's rebuilding value. Don't go for lower coverage. If your coverage on the policy is insufficient you may face an underinsured penalty if a claim occurs.

Insurance policies are designed based on the property details and how the property is being used. A policy for a single family house used as a primary residence will differ from a policy if the property is an investment property and it's' not the primary residence of the property owner. In many cases claims may be denied if the policy is prepared incorrectly. If the property is part of an HOA not a COA, the property should not be insured with a Condominium owners policy. Unfortunately this is a common mistake on the market and many property owners have faced catastrophic losses due to claim denials originating from incorrect policy types.

Insurance companies are looking to several factors to determine the acceptance of the property for insurance purposes. The inspector, the seller or any other person's comments should not mislead one. A licensed insurance agent will be able to provide clear information. Insurance agents will look into details such as roof coverings age, hurricane protections (including garage door), water heater age, electrical panel make, age and other details.