Every year Floridians suffer the after effects of Mother Nature’s perils. Remember Hurricane Sandy? The effects of a massively destructive storm can cause a drastic affect on commercial and personal property. This is where insurance comes in to protect everyone from the losses that may occer in such unusual disastrous events.

Furthermore, the economic recession continues to cause an inflation in housing prices, along with either a constant maintenance or an even worse increase in homeowner’s insurance costs.

This increase in premiums has put a great pressure on many homeowners.

Living in Florida can tend to weigh quite heavily on your bank accounts due to various reasons. However, there are five ways to help you reduce your Homeowners Insurance premium and help you save money by following these brief, few steps:

1. Do not assume that the governments plan is the best deal – Be Cautious!

The first and foremost idea is not to assume that the insurance plan that is offered by the government is the best plan. It is a possibility that you might live in a high-risk area which could cause you to believe that the plan the government is offering is the best. False! Dig in, do some research, and find out more information about other private insurance companies! Check and see if they can offer you better coverage for a lower premium.

2. Review your policies and coverage yearly

This is very critical and must be done over the phone or in person, but not over email or over the internet. This is because it may be possible that you might have made some major purchases (such as remodeling the house or adding a pool), and needed specific coverage for your current situation, not your historical situation. It may also be possible that your possessions under coverage may have lost value over time and now you want to reduce or end coverage over it. All of this will give your agent another opportunity to review your terms, policies, and look for ways to save you some money.

3. Raise your deductible

A deductible is the portion of the loss of which you pay to your company before claiming your homeowner’s insurance. If the deductible is high, it means you will pay more of a claim, causing the insurer to pay less. The insurance companies love this. So, the higher your deductibles, the more money you save on your premiums.

4. Improve your home security

Insurance companies look forward to provide assistance to those who already take security measures for their homes. Installing a detector, a burglar alarm, or deadbolt locks will usually save a pretty penny for you. Installing other precautionary items such as sprinkler systems and burglar alarms that alert the police, fire, or other emergency stations, are also good idea. Before installing any device, be sure that your insurance company makes it worth your while.

5. Maintain a good credit record

Lastly, insurance companies prefer people that have a good credit history. Paying your bills on time and maintaining a strong credit score can help you to receive a better quote. If you have poor credit history, the insurance companies will charge a higher rate. If your credit score is better, it can qualify you to receive a discount by your insurance company.