TLDR: If you’re buying your first home in Florida, you need insurance in place before closing—especially if you have a mortgage. Your lender will be listed as a beneficiary on your policy, and skipping insurance if you’re paying cash is risky. Storm damage isn’t always visible, so get a professional inspection after any severe weather. A public adjuster like Panther Public Adjusting will fight to make sure you get the payout you deserve.
Buying your first home is one of the most exciting milestones in life. But in Florida, where storms, hurricanes, and other unexpected disasters can happen in the blink of an eye, protecting that investment with the right insurance is not optional—it’s essential.
In this guide, Mendy from My Insurance Claim Expert, proudly brought to you by Panther Public Adjusting, walks you through the critical things every first-time homeowner should know about home insurance. Whether you’re buying in Miami, Sarasota, or Englewood, this information could save you tens of thousands of dollars and a lot of headaches.
Why Home Insurance Is Essential for New Homeowners
If you’re buying a home with a mortgage, you must have an insurance policy in place before closing. Your lender will require it because they’ve invested in your property and need to ensure it’s protected.
If you’re paying cash, there’s no law that forces you to get insurance—but skipping it is a dangerous gamble. Even something minor, like a malfunctioning oven, could cause a fire that destroys your home. Hurricanes, hailstorms, or flooding can cause catastrophic damage, leaving you with a huge financial loss if you’re uninsured.
💡 Pro Tip: In Florida, hurricanes are not “if” but “when.” Insurance is your best safety net.
Example: A homeowner in Palmetto recently skipped insurance because they purchased the property in cash. Just six months later, a tropical storm caused roof leaks and water damage that cost over $50,000 to repair—money they had to pay entirely out of pocket.
Why Your Lender Is Listed on Your Policy
Many first-time homeowners are surprised to learn their mortgage company will be listed as a beneficiary on their policy. This practice became standard after Hurricane Andrew in the early 1990s.
Before the change, homeowners with total-loss payouts sometimes walked away from their damaged properties with the insurance money, leaving banks with homes worth a fraction of their mortgage balance. To protect lenders, Congress required that mortgage companies be listed as co-payees on insurance claim checks.
This ensures your lender has a say in how those funds are used—typically requiring them to go toward repairs before any surplus is released to you.
When to Get Your Insurance Policy in Place
There’s no grace period. If you have a mortgage, your lender won’t let you close without proof of an active policy.
Start shopping for your policy the moment you sign your purchase contract. Insurance approvals can take several days, so don’t wait until the last minute. Your first premium is usually included in your closing costs, and coverage begins immediately upon closing.
Related Resource: Learn more about unlocking the secrets of mortgage insurance and how it affects your coverage.
Example: In Sarasota, a buyer waited until the day before closing to secure insurance. Their preferred carrier needed three business days for approval, forcing them to scramble for a more expensive short-term policy just to meet closing requirements.
Hidden Storm Damage: What You Don’t See Can Hurt You
After a storm, your home may look fine from the outside—but hidden damage can be lurking. Common issues include:
- Water intrusion into walls or ceilings
- Roof deck separation
- Framing shifts that weaken structural integrity
- Electrical problems caused by moisture
- Window seal failures that lead to leaks later
If you don’t catch these early, you may miss your claim filing deadline. That could mean paying for repairs entirely out of pocket.
At Panther Public Adjusting, we’ve seen homeowners unknowingly walk away from real damage simply because they didn’t know what to look for. This is where having a public adjuster on your side makes all the difference.
Example: In Englewood, a homeowner thought their roof was fine after a hurricane because no shingles were missing. Our inspection found wind uplift damage that had loosened the decking, which would have led to major leaks within months. Because we caught it early, the insurance company paid for a full roof replacement.
The Role of a Public Adjuster in Protecting Your Home
When disaster strikes, your insurance company will send out their adjuster—but that adjuster works for them, not you. A public adjuster works exclusively for the homeowner to ensure the insurance company pays every dollar you’re entitled to.
Our team at Panther Public Adjusting can:
- Conduct a full inspection to find hidden damage
- Help you document your loss with photos, videos, and detailed reports
- Negotiate directly with the insurance company on your behalf
- Make sure repairs are fully covered—not just patched up
đź“ž Call us today at 833-726-8437 for a free policy review or storm damage inspection.
Extra Tips for Florida First-Time Homeowners
- Review Your Deductibles: In Florida, hurricane deductibles can be a percentage of your home’s insured value—not a flat amount.
- Understand Flood Coverage: Standard homeowners insurance does not cover flood damage. You may need a separate flood policy.
- Check for Ordinance or Law Coverage: This helps cover costs to bring your home up to current building codes during repairs.
- Document Your Home Now: Take photos and videos of your property before a storm hits so you have proof of its pre-damage condition.
- Know the Claim Filing Deadlines: Florida has specific time limits for filing claims after a loss—don’t wait.
Florida Cities We Serve
We proudly represent homeowners across Florida, including Sarasota, Englewood, Palmetto, Miami, Saint Petersburg, and Tampa.
If you live in the Sarasota area, check out Sarasota’s Premier Public Adjusters for more details on how we fight for your payout. In Palmetto, our leading public adjusters are ready to get you the settlement you deserve.
Related Resource: Learn what to do if a tree falls on your house to protect your claim rights.
Next Steps for New Homeowners
- Secure insurance before closing—never delay.
- Understand your policy—know your coverage limits and exclusions.
- Schedule a professional inspection after any storm—even if damage isn’t visible.
- Hire a public adjuster immediately after a loss—this ensures your rights are protected from day one.
Related Resource: Find out what your insurance policy really means so there are no surprises when you file a claim.
Stay Connected & Learn More
For more expert homeowner tips and claim advice, visit our YouTube channel, My Insurance Claim Expert, and join our Facebook community, Anything About Property Insurance Claims 101. You’ll find real stories, claim strategies, and up-to-date information every Florida homeowner should know.
Contact Panther Public Adjusting Today
Don’t wait until it’s too late—protect your investment and your financial future.
đź“ž Call us now: 833-726-8437
📧 Email us: Claims@PantherPA.com
đź’» Contact form: PantherPA.com/#contact
âś… Schedule a free policy review
âś… Get a storm damage inspection
âś… Make sure your insurance company plays fair
Related Resource: See our article on how to ensure your flood claim gets paid after a hurricane for step-by-step advice on maximizing payouts.
FAQs
Q1: If I buy my home in cash, should I still get insurance?
Yes. While it’s not legally required, going without insurance leaves you exposed to massive financial losses from fire, hurricanes, flooding, and other disasters.
Q2: How soon before closing should I secure my insurance policy?
Start shopping for a policy as soon as you sign your purchase contract. Processing can take several days, and your lender will require it before closing.
Q3: How can a public adjuster help me after a storm?
A public adjuster works for you—not the insurance company—to find hidden damage, document your claim, and negotiate for the maximum payout possible.