Florida Homeowners Insurance
Homeowners Insurance in Florida
Paying too much for homeowners insurance policy? Have you explored all discounts to lower you insurance premium? The homeowners insurance in Florida could be much higher than many other places including the neighboring states. The single important factor for the higher premium for the homeowner insurance policies in Florida is the geographical situation of the state that makes it more prone to damages caused by the hurricanes coming from both directions of the Atlantic Ocean and the Gulf of Mexico. The other contributing factor for higher premium is the location and proximity of the properties to large bodies of water. The homes or condos located on barrier islands and other beachfront properties come with a higher insurance tag and at times even difficult to insure. To obtain insurance policies for such properties homeowners must shop around and work with insurance companies that are affiliated with more than one insurer.
Wind Mitigation and Four Points Reports
For homes after 2001 there your agent might order the wind Mitigation Report, which is one of the least expensive solutions that could save substantially in your premium. The report not only helps with obtaining the homeowner insurance for homes in the high-risk area but also could result in a discount on the premium that will justify the small cost of the report. There is also Four Points Report that is for older homes. This report could also result in great savings on insurance policies, just like Wind Mitigation Report.
How to Save on Insurance Premium
The Wind Mitigation Report is also a good tool for most homeowners in lowering their insurance premiums, specifically for the homes that are built after 2001 that generally meet the current Florida Building Codes enabling them to withstand hurricane force winds. The homes that are built before 2001 could also receive a discount if their roof is replaced after 2001 under the new codes. The cost of the homeowner insurance in Florida could be in thousands of dollars, but there are simple ways of receiving discounts that an insurance agent could advise you on them. While you might not want to change your Gable roof for the sake of a discount on your homeowner policy but you may consider installing smoke detectors in case of a fire could also save more precious commodities than your home.