Protect Your Investment With Cheap Homeowners Insurance In Broward County

Broward County is located in the U.S. state of Florida with an estimated population of 1,896,425, as of 2010, making it the 2nd most populous county in Florida and the 17th-most populous in the U.S. The Sunshine State isn’t new to natural disasters thus each homeowner needs to protect his or her property by acquiring homeowners insurance in Broward County. A representative from the Insurance Information Institute Florida, Lynne McChristian stated, “It’s about knowing your risk, and what you can do to minimize that risk.”

Four basic factors that affect Florida homeowners insurance rates in Broward county.

  1. Age and construction of your home

The age and structure of your home and what materials were used in constructing your home play a big role in determining your home insurance rates in Florida. Would the house be hard to replace or rebuild, your home insurance cost will rise. However, for new homes, getting affordable home insurance rates can be easier.

  1. Condition of the roof

The shape and age of your home’s roof will also play a big factor in determining your cheap homeowners insurance in Broward. Newer roofs will typically see a reduced premium, while older roofs will pay more. Anytime you make a home improvement like replacing or repairing your roof; you should talk to your agent to be sure you’re protected and eligible for discounts that may come along with roof improvement.

Read more about Why is there a need to replace your roof?

  1. Your credit history

Insurance companies in Florida may also consider your credit history when creating a quote for homeowner insurance in Florida. Each company has its own credit formula; here we have listed some basic factors that insurers will review, according to the National Association of Insurance Commissioners:

Payment history – It contributes 40 percent: How well you have clear your outstanding debt in the past.

Outstanding debt – 30%: How much debt you currently owe.

The length of credit history—15%: How long you have had a line of credit.

New credit – 10%: How much you’ve recently applied for new credit.

Credit types—5%: The credit mix you have (mortgage, credit card, auto loans, etc.)

  1. Your claims history

No matter if you’ve switched homes or not, your previous claims for homeowners insurance will follow you. A significant correlation exists between the claims you’ve made previously and your future likelihood of home insurance claims being made.

You can get a copy of your C.L.U.E. (Comprehensive Loss Underwriting Exchange) which includes all the home insurance claims you’ve filed in the past 7 years. The report would include details such as, the date on which the loss has occurred, type of loss and the amount paid by the insurance company to cover that claim. McChristian says the amount of the claim may be less important than the reason for the claim.

Diverse Insurance Group – Floridians Best Choice For Home Insurance

Finding cheap homeowners insurance in Broward County is no more a tedious job. We are the best choice of home insurance out there who guides each Floridian homeowner on how to qualify for homeowners insurance premium discounts. To contact us, please visit our website www.insurefloridians.com.