Homeowners Insurance In Florida—How To Keep The Costs Down

2007-03-08 10:33:40

( Financial )



If you are buying homeowners insurance in Florida, you will be facing a tough situation. You may have to pay increased premiums this year. It will be almost as tough as when you are buying medical insurance in USA.

Companies selling homeowners insurance in Florida raised rates recently, saying they suffered huge losses in the last two hurricane seasons. With insurance rates going up, your consumer credit management advisor will tell you to find ways to pull your costs down.

One way to save is to increase your deductible (the amount you are willing to shoulder in case something happens to your house). A higher deductible results in a lower premium.

You can also purchase your homeowners insurance in Florida from the same company that insures your automobile. This way, you might get a discount.

Check if your insurer gives discounts for safety devices installed in your home. Safety devices like fire extinguishers or burglar alarms will please your insurer because these make your house safer.

There are insurers that give discounts if you have built a strong roof. Remember that originally, homeowners insurance provided protection against windstorms, whether the shingles blow off your house or a hurricane blows it down.

Before renewing your policy, ask your insurer to inspect the inside of your home. It is possible to get a significant discount if you allow an interior inspection.

It never hurts to shop around to reduce your costs when you buy homeowners insurance in Florida. You can compare prices quickly by asking your state insurance department for their price comparisons.

But going beyond costs, make sure you get a reliable insurer. You would not want a company that will give you a hard time if you need to make a claim on your homeowners insurance in Florida, or when you claim your prize from your hole in one insurance.


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