Homeowners insurance

Today we wanted to discuss homeowners insurance in Florida. Lately we have had many of our insured’s complain about the rates that they are seeing across the board and across the State of Florida. We wanted to fill everyone in on why this is possibly happening and give some points on how to save on you current or new Florida Homeowners insurance premium.

All the properties in Florida are defined in a several ways first and most important is location, than year of construction and also coverage amount of the structure. Once this basic information is provided than the Florida home is evaluated by the square footage, garage, pool and other aspects of the home are all inputted into a system usually Marshall & Swift or MSB. All of the internal specifications of the Florida home are then calculated the based on the square footage, garage, pool and other aspects of the home the replacement value of the Florida home is calculated.

Many credits can apply to the Florida home looking to save and secure the proper homeowners insurance. Florida Statute 626.0629 requires insurance companies to offer Florida homeowners “discounts, credits, or other rate differentials” for different elements of windstorm protection that can be distinguished by a completed wind mitigation form. There is a wind mitigation inspection cost can range from $59.00 – $150.00 depending on which company you utilize. However I have seen Florida homeowners save between $500.00-$5000.00 depending on the current premium.

The second most applied credit is for a centrally monitored alarm system. The Florida home must be monitored by a central monitoring station and must be able to provide an alarm certificate (document from Alarm Company) proving that the alarm is active. This credit is much less however when you are trying to save on your Florida homeowners insurance every credit is important.

There are many other credits that are more specific to county, age of dwelling and credit of the applicant. We try to make sure you receive all the credits you deserve and would like an opportunity to help you with your Florida homeowners insurance. Call us today or fill out our Quick Quote form for a free Florida homeowner’s insurance quote at no obligation to you.