Does the Homestead protection take the place of home insurance?
Absolutely not! The Homestead protection is not a substitute for home insurance or any other type of liability insurance. These are separate and distinct types of protection. The Homestead protection will also be effective after any liability insurance is used to pay for any judgments that are related to liability incurred under that particular insurance policy (e.g. home, automobile, etc.) • How does the ‘property tax exemption’ protect my Home? It doesn’t. The homestead property ‘tax exemption’ has a separate legal or statutory basis. As previously mentioned, it allows a resident of Florida to exclude from the calculation of his ad valorem real property taxes a specific dollar amount of the assessed value of his principal residence. Do not confuse the homestead property tax exemption with our ‘Declaration of Homestead’ protection process, and do not allow anyone to convince you it is the same thing. It is not. Again, there are separate and distinct laws and state statutes involved in
