FAQs

Replacing your home and your furnishings, clothing, and other possessions could be very expensive. Replacement cost for your home’s contents is a critical part of your homeowners coverage. If your television is stolen, your standard homeowners policy would cover the price you paid for it, less depreciation. Under a policy with replacement cost coverage, insurance will pay to replace it – without worrying about depreciation or inflation. Most of your personal property may be covered at replacement cost. Antiques and rare items, however, are subject to actual cash value limits and may be subject to additional coverage limits and exclusions.

No, unlike the coverage offered by many financial institutions, identity theft coverage pays for you to recover your identity and credit, including providing you access to a case manager or consumer fraud specialist. Your financial institutions can typically recoup money you may have lost, as long as the fraud is reported to them as soon as possible.

Identity theft coverage offers personal assistance to help restore your identity and credit after a breach has occurred and can help pay for many of the expenses incurred. In contrast, identity theft monitoring tools focus on detecting and alerting you to suspicious activity and potential threats – but do not provide financial coverage or restoration services.

Yes, 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 Edison Insurance Company, change scan still be made via your agent or by calling our customer service department.

An assumption date refers to the date Edison Insurance Company assumes responsibility forcovered losses affecting the insured property. Until you receive a policy renewal from Edison, you should contact your agent or Citizens for policy changes and payments.

Becoming a policyholder 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 or submitting your choice online, please have your Citizens policy number and the registration code provided in the Policyholder Choice Offer form.
• If you do not make a selection, Citizens will assign your policy to the private-market carrier of their choice.

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 where to send a payment. You may also contact Citizens customer service for payment questions. Once you have received a renewal package from Edison Insurance Company, payments can be made online at www.edisoninsurance.com upon registering your policy and creating a username and password. You may also contact our Customer Service Department or your agent for assistance. We accept all major credit cards and offer 4 convenient payment plans available to meet your budgetary needs.

Should the damage or loss occur prior to our assumption date, Citizens will be able to assist you with filing the claim. After the assumption date, you should file your claim with Edison Insurance Company by calling us at (866) 568-8922. If you have water loss, call our Water Hotline at (888) 683-7971.

No, storm surge is considered rising water and the damage resulting from a storm surge is only covered by a flood policy – not a homeowners policy. If you live near a body of water prone to rising during storms, a flood policy is essential.

No, a standard homeowners policy does not cover damage resulting from flooding, often referred to as rising water. Rising water can come from a heavy rainfall, backed up sewer system, storm surge or other source.

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Yes, flood insurance is highly recommended for every homeowner as all homes are prone to flooding. More than 20% of individuals seeking federal disaster assistance for flood events do not live in a high-risk flood area.

Yes, Insuring a condominium is different from insuring a house because of the way ownership is structure. Because there are areas of common ownership in a condominium complex, your homeowners association will typically have a master policy covering those areas. The extent of the coverage you need will depend on what the master policy covers. The standard policy for condominiums is called anHO-6. It will likely cover your personal property, provide you with liability coverage, and pay to repair any portion of the unit’s structure not covered by your condominium’s master documents.

Yes, at the time of renewal we will notify the lender/mortgage company listed on your policy.

Designed to be the “insurer of last resort,” state-backed Citizens Property Insurance Corporation only offers coverage to policyholders who cannot otherwise secure coverage with an admitted, private-market carrier. Citizens will routinely partner with private-market carriers to assist policyholders in finding alternate, private-market 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 number of policies Citizens provides and thus, reduce the financial risk to the state.

Learn More About The Takeout Selection Process

Homeowners insurance is necessary most often because a mortgage lender requires it. However, should the unthinkable occur, this coverage will provide you with financial stability and peace of mind, knowing you have the means to rebuild.

Edison Insurance Company has been serving and protecting families since 2010. In addition to protecting homeowners against common occurrences like  pipe breaks and theft, we have helped thousands of families recover from hurricanes and tropical storms impacting our state. We specialize in home insurance and have a deep understanding of these risks.  Our team of dedicated experienced professionals and our comprehensive coverage options, make Edison the right choice for your family and home.

In general, a homeowners 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.

Equipment breakdown coverage has a limit of $100,000 per occurrence with a $500 deductible.

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, minus depreciation (based on factors such as property age and current condition).

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. So don’t delay in obtaining this important coverage.

Personal property refers to your belongings, including furniture, clothing, electronics, and appliances stored in your home. It also includes items kept in storage or taken temporarily away from your home.

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

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 to others

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

Regardless of who is at fault, this coverage pays for minor medical expenses incurred by others accidentally injured on your property. Medical payments coverage does not apply to you or members of your household. Like personal liability coverage, it doesn’t apply to injuries arising out of the operation of an auto or from activities involving your at-home business.

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 tax returns, or get medical services in your name without your knowledge. These activities will damage your credit and cost you time and money to rectify.

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Edison Insurance Company has helped thousands of families recover from major hurricanes since 2010. 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.

Dwelling coverage (Coverage A) is the portion of your home insurance policy that covers the cost of rebuilding/repairing the structure of 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 earthquakes, sinkholes, or flood because these are not covered under standard home insurance policy

An identity theft endorsement to your homeowners policy, reimburses the policyholder for money spent on reclaiming and repairing their financial identity and credit rating after being a victim of identity theft. These costs may include legal assistance, phone bills, and office expenses that can quickly add up to thousands of dollars.

A takeout/assumption occurs when an authorized private-market insurer selects policies from Citizens Property Insurance Corporation and makes an offer of coverage. Private-market insurers are approved by Florida’s Office of Insurance Regulation prior to participating in a Citizens takeout. Your agent will be notified that we have selected your policy for assumption.

Generally, homeowners insurance will cover replacing your home and personal property up to certain limits. Most disasters are covered (lightning, fire, wind, hail, theft, and vandalism) – except earthquakes, sinkholes, and flooding. Homeowners policies do not cover damage due to the normal aging of a home. Homeowners insurance also may include liability coverage, which covers injuries or property damage you accidentally cause to other people for which you are legally liable.

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

Yes, your agent will remain the same, because Edison Insurance has confirmed they are contracted with our company.  In addition, your agent will continue to earn commissions on your policy from Edison Insurance Company.

No, this coverage protects the equipment in your home against sudden and accidental damage or loss. Regular age-related wear, deterioration, or corrosion is not covered by our equipment breakdown coverage.

In Florida, the average cost of a flood insurance policy is approximately $781 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.

You could add a premium package to your homeowners policy, which increases your coverage limits on jewelry, watches and more (up to an aggregate limit for all of these items together, specified on your policy). Many policyholder obtain this type of extra protection to cover losses on their jewelry, cameras, coin and stamp collections, fine arts, furs, golf equipment, guns, musical instruments, outboard motor boats, silverware, etc.

Most individuals with insurance claims are contacted by an insurance adjuster within 48 hours after the claim is reported. At that time, a mutually agreed upon time and date for inspection of the damage or loss will be scheduled. The resolution period of a claim will vary, depending on the extent of the damage.

The cost of homeowners insurance can vary tremendously depending on the amount of coverage you purchase and the location and attributes of your property. 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.

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

Your agent can assist you in calculating the right amount of coverage when considering the following:  

1. The structure of your home
2. Your personal possessions
3. Additional living expenses
4. Liability

Yes, private-market carriers, such as Edison Insurance Company, are all provided the same information 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.

Damages caused by windstorms, hail, hurricanes, and tornados are usually covered in a basic homeowners policies. However, some insurers may limit coverage to homeowners residing in hurricane-prone areas. Flood damage is usually excluded from a basic policy and may need to be purchased separately.  Some homes may qualify for an Edison Insurance flood endorsement. Ask your agent.

Maybe, 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 requiring repayment.