Purchasing homeowners insurance in Florida is all about the discounts. The rates are pretty much the rates and are filed with the department of insurance. Maximizing your discounts is the best way to getting rates that are affordable. Fortunately Florida homeowner insurance companies offer many discounts that make a significant dent in what you’ll pay annually.
Although Florida insurers don’t all require wind mitigation inspections, not having one completed makes little sense when it comes to purchasing homeowners insurance. When your insurance company has proof of roof updates made to your home, the discounts awarded are significant. Offering verified proof that your home has a hip roof, gable end bracing, shutters, toe nails, clips or hurricane straps can result in discounts of as much as 45% off your wind coverage premium.
It makes great sense to have an alarm system in your home. Having it monitored makes even better sense because the alarm company will send police or firefighters if your home is broken into or catches fire. Although many police departments are reluctant to send a patrol out for a break in because of false alarms, the fire department will very likely respond to any alarm.
Even if the police department is unlikely to respond to an alarm, they will investigate if your neighbor calls after hearing an alarm go off and seeing someone running from the premises.
The discount offered for a monitored alarm system is typically about 10% so well worth installing an alarm system and getting the peace of mind of knowing your home is monitored.
Every insurer that offers multiple coverages such as home and auto is typically willing to offer a substantial discount if the consumer will bundle their policies. Historical data indicates that a consumer that has more than one policy with their insurer is less likely to shop their policies at renewal. This results in a reduction in the acquisition cost of a new customer and the company is normally willing to share in the savings by way of discounts of up to 10%.
Florida homeowners are vulnerable to higher rates than other parts of the country but can reduce their cost of insurance by qualifying for the discounts available. Most Florida insurance carriers set similar rates so the best way of reducing insurance costs is through discounts.