How Do I Get "Cheap Homeowners Insurance" In Florida?
Possessing homeowner's insurance in Florida is very important, but finding cheap homeowners insurance in Florida can be difficult due to the high rates utilized by many insurance companies. Rates are typically higher in Florida due to the high risk of storm damage that homes along the coast are exposed to, particularly during hurricane season. Cost is relative however, and there are steps you can take to ensure that you are receiving the best value for your insurance premium.
Tips For Cheap Homeowners Insurance In Florida:
- 1: Burglar Alarms
- 2: Smoke Alarms
- 3: Sprinkler Systems
- 4: Wind Mitigation Improvements
One easy way to save money is to seek lower rates by obtaining competitive quotes. According to a recent survey by Consumer Reports, over half of those surveyed obtained a lower rate by switching to a new insurance company. Those who have had the same insurer for many years may find opportunities to find cheap homeowner's insurance by shopping around.
Many insurers will offer discounts if you buy more than one type of insurance from that same company. For example, many are able to obtain cheap homeowner's insurance by buying their auto insurance from the same insurance company. This will typically yield a savings of at least 10 percent. In order for this strategy to work, it is important to note that many popular insurance companies in Florida do not write auto insurance, and only write property insurance so it would be impossible to obtain a multi-line discount with that type of homeowner's insurance company.
There are many types of discounts available with all insurance companies so be sure to ask. Here is a list of qualifying conditions that can result in discounts offered by insurers:
Burglar alarms â?? Insurers recognize that alarm systems offer protection from theft damage claims. If you have a burglar alarm, ask if your homeowner's insurance company will offer a discount.
Smoke Alarms â?? Smoke alarms save lives and if you have them chances are likely that you can be alerted quickly enough to react sufficiently to save you and your family from harm, and possibly save your home from becoming a total loss.
Sprinkler Systems â?? This is a wonderful safety feature that has not yet gained popularity in the residential market. Be sure to ask your insurer if discounts are offered for sprinkler systems.
Wind Mitigation Improvements â?? In Florida, the law requires that insurance companies reduce their premiums for those who make wind mitigation improvements. Any improvements you make will have to be certified by a licensed professional. Ask your agent or broker for more details.
Senior status (over age 55) â?? Almost all insurance companies offer this discount so do not hide your age!
With so many choices in insurance companies, many will be able to improve the value they receive in their homeowner's insurance policy simply by shopping around. Comparing companies online is a fast way to get basic information about companies and the policies they offer. Be sure to work with a licensed agent or broker who can help you find a cheap homeowner's insurance policy that will fit your needs and obtain the best possible price.