What Florida One Insurance Is

Florida One Insurance is a property insurance company licensed to write homeowners, condo, and commercial coverage in Florida. It is a private insurer, not a state-run program, and operates separately from the state's insurer of last resort, Citizens Property Insurance Company. Florida One was created to provide an alternative to Citizens for property owners who want coverage from a private carrier.

The company focuses on residential and small commercial properties across Florida. Like all private insurers in the state, Florida One must follow Florida's insurance regulations and rate-filing requirements, but it sets its own rates and underwriting standards within those rules. This means premiums and coverage terms may differ from what you would find with Citizens or other private insurers.

If you are shopping for homeowners or condo insurance in Florida, Florida One is one option among several private carriers. Understanding how it works, what it covers, and how it compares to other insurers will help you decide whether it fits your situation.

Key Takeaways

  • Florida One Insurance is a private property insurer offering homeowners and condo coverage, not a government program or Citizens Property Insurance alternative in the traditional sense.
  • Coverage typically includes the dwelling structure, personal property, liability protection, and additional living expenses if your home becomes uninhabitable.
  • Premiums and deductibles vary based on your home's age, location, construction type, and claims history, and rates change as the company adjusts its pricing.
  • You obtain a policy by contacting the company directly or through an independent insurance agent who represents Florida One.
  • Florida One, like all private insurers in Florida, must comply with state regulations but is not backed by the state if it becomes insolvent.

Standard Coverage in a Florida One Homeowners Policy

A typical Florida One homeowners policy includes four main parts. Dwelling coverage pays to repair or rebuild the structure of your home if it is damaged by a covered peril — fire, wind, theft, or vandalism, for example. The amount you choose (usually based on the replacement cost of your home) is the maximum the company will pay for structural damage.

Personal property coverage protects your belongings — furniture, clothing, electronics, and other items inside the home. This coverage is usually set at a percentage of your dwelling limit, often 50 to 70 percent. If a covered loss destroys your possessions, the company reimburses you up to that limit, minus your deductible.

Liability coverage protects you if someone is injured on your property or if you accidentally damage someone else's property. If you are found legally responsible, liability coverage pays their medical bills or legal judgments up to your policy limit. Most homeowners policies include at least $100,000 in liability coverage, though you can purchase more.

Additional living expenses (sometimes called loss of use) covers hotel, food, and other costs if your home becomes uninhabitable after a covered loss. This coverage kicks in while your home is being repaired and typically lasts up to 12 months.

What Florida One Does Not Cover

Standard homeowners policies, including those from Florida One, exclude certain types of damage. Flood damage is the most significant exclusion. Water that enters your home from outside — from storm surge, heavy rain, or overflowing rivers — is not covered by a homeowners policy. You must purchase a separate flood insurance policy, typically through the National Flood Insurance Program (NFIP) or a private flood insurer, to protect against this risk.

Damage from wear and tear, maintenance issues, or gradual deterioration is also excluded. If your roof leaks because shingles have aged, or if pipes burst because they were already corroded, the policy will not pay. The policy covers sudden, accidental damage, not problems that develop over time.

Earthquake damage is excluded from standard policies in Florida. Although earthquakes are rare in Florida, if you want this coverage you must add an earthquake endorsement to your policy. Damage from war, civil unrest, or nuclear hazard is also excluded, as is damage caused by your own intentional acts.

How Deductibles and Rates Work

When you file a claim with Florida One, you pay a deductible — the amount you agree to cover out of pocket before the insurance company pays. Common deductible options are $500, $1,000, $2,500, or $5,000. Choosing a higher deductible lowers your premium, but you pay more if you need to file a claim. Choosing a lower deductible raises your premium but reduces your out-of-pocket cost when damage occurs.

Florida One also offers hurricane deductibles, which are separate from your standard deductible. A hurricane deductible is usually a percentage of your dwelling coverage — often 2, 5, or 10 percent — and applies only to damage from wind during a hurricane. If your home is insured for $300,000 and you choose a 5 percent hurricane deductible, you would pay $15,000 out of pocket for hurricane wind damage before insurance pays.

Your premium is based on several factors: the age and construction type of your home, its location (including flood zone and hurricane exposure), the coverage limits you choose, your deductible, your claims history, and your credit score in some cases. Florida One adjusts its rates periodically as it reassesses risk. You will receive notice of any rate change before your renewal date.

How to Obtain a Florida One Policy

You can contact Florida One directly through its website or phone line to request a quote. The company will ask about your home — its age, square footage, construction materials, roof condition, and any recent updates or claims. You can also work with an independent insurance agent who represents Florida One and other carriers. An agent can compare quotes from multiple companies and help you understand the differences in coverage and price.

Once you have chosen a policy, you will complete an process and provide documentation. The company may order a home inspection or review public records to verify the information you provided. If Florida One approves your process, you will receive a policy document outlining your coverage, limits, deductibles, and premium. Your policy becomes effective on the date you choose, and you will receive a renewal notice before your policy expires each year.

If Florida One denies your process or offers coverage at a rate you find unaffordable, you have other options. You can explore with other private insurers, or if you cannot find coverage in the private market, you may be able to obtain a policy through Citizens Property Insurance Company, which is required to accept applicants that private insurers have rejected.

Florida One Versus Citizens Property Insurance

Citizens Property Insurance is Florida's insurer of last resort — a state-created company that must accept any property owner who cannot find coverage in the private market. Florida One is a private company competing in the open market. The key differences affect cost, service, and security.

Citizens typically charges higher premiums than private insurers because it accepts higher-risk properties and operates under different financial constraints. However, Citizens is backed by the state of Florida, meaning if the company runs out of money after a major hurricane, it can borrow from the state or assess policyholders statewide to cover losses. Florida One, like all private insurers, is not backed by the state. If it becomes insolvent, policyholders are protected only by the state's insurance guaranty fund, which covers up to $250,000 per claim.

Private insurers like Florida One often offer more flexible coverage options and faster claims processing than Citizens. However, private insurers can also exit the Florida market or stop accepting new customers if they decide the risk is too high. Citizens cannot exit the market, so it serves as a permanent safety net for property owners who cannot find private coverage.

What Happens When You File a Claim

If your home is damaged by a covered peril, contact Florida One as soon as possible. You can file a claim by phone, online, or through your agent. The company will assign an adjuster to inspect the damage, review your policy, and determine what the company will pay. You should document the damage with photos and keep receipts for any emergency repairs you make to prevent further loss.

The adjuster will estimate the cost to repair or replace the damaged property. If you disagree with the estimate, you have the right to hire your own appraiser. If the two estimates differ by more than a set amount (usually $500 to $1,000), the policy allows for an appraisal process where a neutral third party reviews both estimates and makes a binding decision.

Once the claim is approved, Florida One will issue payment. The company may pay you directly, or it may pay your mortgage lender if you have a mortgage and the lender is named on the policy. The time from filing to payment varies depending on the complexity of the claim, but most straightforward claims are resolved within a few weeks to a couple of months.

Frequently Asked Questions

Does Florida One cover hurricane damage?

Yes, but with a separate hurricane deductible. Wind damage from a hurricane is covered, but you pay a hurricane deductible (usually 2 to 10 percent of your dwelling coverage) before the company pays. Flood damage from storm surge or heavy rain is not covered — you need a separate flood policy for that.

What if I have a mortgage — do I need Florida One's permission to switch insurers?

No, but your mortgage lender must approve any new insurer. When you switch to Florida One, provide proof of the new policy to your lender. The lender will verify that the coverage meets its requirements and that it is named as a loss payee on the policy.

Can Florida One cancel my policy?

Florida One can cancel for non-payment of premium or if you misrepresent information on your process. The company can also choose not to renew your policy when it expires, though it must give you notice. Florida law limits the reasons an insurer can cancel or non-renew a policy.

What should I do if Florida One denies my claim?

Review the denial letter carefully to understand the reason. If you believe the denial is wrong, contact the company in writing with additional documentation or photos. You can also file a complaint with the Florida Department of Financial Services, which oversees insurance companies in the state.

Is Florida One the same as Citizens Property Insurance?

No. Florida One is a private company. Citizens is a state-created insurer of last resort. They are separate entities with different ownership, pricing, and financial backing.