My Account LoginBasic Choice Policy
This policy allows policyholders who are looking for a more affordable option or who do not qualify for a traditional homeowner's insurance policy to have tailored coverage for their needs.
The Basic Choice policy may be written as an Owner-Occupied dwelling only in Miami-Dade, Broward, and Palm Beach counties at this time. The home must be used exclusively as a private residence, and can be rated as either primary or secondary/seasonal.
Tenant-occupied homes must have a minimum of 12-month lease and must be occupied 12 months out of the year. Tenant-occupied homes may only be rated primary tenant occupied.
A Basic Choice policy may not be issued to an irrevocable trust, land trust, estate of, or if in probate. If an insured solely or primarily owns more than 4 rental properties, regardless of where the properties are insured, a policy may not be written unless Liability and Medical Payments are excluded.
Basic Choice - Named Perils
Fire or lightning
Riot or civil commotion
Smoke
Explosion
Aircraft
Volcanic eruption
Windstorm or hail (with an option to exclude windstorm coverage)
Vehicles
Catastrophic ground collapse
Basic Choice - Exclusions
Not limited to the following:
Water Damage
Earth Movement - Sinkhole or Settling
War/Nuclear Hazard
Vandalism and Malicious Mischief (Vandalism or Malicious Mischief coverage is available for Owner Occupied dwellings only.)
Power Failure
Government Action
Theft / Intentional Loss
Neglect
Falling Objects
Basic Choice Coverage Options
Basic Choice offers home insurance for owner and non-owner occupied homes. It can potentially lower overall home insurance costs while satisfying most lender requirements.
Coverage A
Dwelling Coverage Limits range from $50,000 to $2,000,000. Tri-County limits range from $100,000 to $2,000,000. Dwelling needs to be insured to 100% Replacement cost.
Coverage B
Other Structures options are 2%, 5%, 10%, 15%, and 20% of Coverage A. It may also be excluded.
Coverage C
Owner-occupied properties: Contents coverage is included at 25%, available options are 10%, 50%, or 75% of Coverage A. Excluding contents requires the insured to submit a completed PTIC E008 form. Non-owner occupied properties: Not eligible for contents coverage.
Coverage D
Loss of Use is included at 10% of Coverage A.
Coverage E
Personal Liability coverage options are offered at $10,000, $25,000, $50,000, $100,000, $300,000 or option to exclude. If the named insured is a Corporation, Trust, LLC, or Association: Option to select Premises Liability endorsement with the same coverage options above.
Coverage F
Medical Payments to Others coverage options are offered at $2,000, $5,000, or option to exclude.
