The importance of having adequate Florida homeowner’s insurance cannot be overstated. However, the cost of your premium is based on several factors: the provider, the condition of your home, any previous policy you may have had, and your payment habits just to name a few. Fortunately, there are several ways to rake in a few discounts and save a little money on your coverage.
1.Do Some Shopping
Diligently go forth in your search for the perfect homeowner’s insurance policy and remember one thing: those providers are super competitive, so don’t settle on the first thing you see. Some insurance companies have price comparison tools on a website to help shoppers make educated decisions, but the information is often biased. Instead, take the time to visit each provider’s official site to get a first-hand price quote directly from an agent.
Savings come in many forms, one of which is the bundled policy discount offered by most insurers. By grouping another form of coverage together with your homeowner’s insurance policy, you stand to keep hundreds of dollars in your pocket each year. Furthermore, policyholders can save even more cash monthly by raising the deductible on each of their existing policies.
3. Stay Proactive
Insurance companies usually don’t want to cover properties that are a liability, at least not without a serious down payment and a high monthly premium. Keep your Florida homeowner’s insurance rates down by making the home more disaster-proof – reinforced roofing, retrofitted foundation stabilizers, storm shutters, double pane windows, modernized plumbing, etc. When the adjuster comes out to survey your property, he or she will be more likely to offer an affordable policy because your home is safeguarded against natural disasters.
Florida homeowner’s insurance policies tend to reduce by about 5-20% when a working deadbolt lock, burglar alarm, sprinkler system, or smoke detector are properly installed. While those security measures are usually not cheap, the benefits typically outweigh the initial investment, not to mention pay for themselves after only a few years. NOTE: Not all security systems qualify for insurance policy discounts, so be sure to consult with an agent to find out more.
Policyholders age 55 or older often qualify for a 10% or greater discount from Florida homeowners insurance companies here. In addition, some of your professional associations and/or employers may offer group policies at an incredibly affordable rate. Use the resources you have on hand to find the most inexpensive, yet comprehensive, coverage.