When homeowners discover damage to their home, they often assume, “I have insurance, I will get money.” But many homeowners often overlook the fact that the insurance contract and Florida statutes will dictate what if any insurance benefits they are entitled to recover.
The right to recover insurance benefits is a contractual right and subject to rights or limitations as provided by Florida statutes. Like any contract, there are contract terms, provisions, conditions, limitations and exclusions all of which direct and define the parties’ rights, duties and obligations to perform under the contract or insurance policy. We are reminded of these contractual obligations and duties, as well as statutory requirements, by a number of recent appellate decisions which demonstrate the importance in the respective parties reading and understanding their contractual responsibilities when property damage is sustained.
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