Most people buy homeowners insurance in Florida, then simply continue making premium payments year after year, even though their premiums continue going up. The price you pay for your cheap homeowners insurance near you can vary by hundreds of dollars, depending on which insurance company you buy your policy from. This blog aims to divert your attention to consider few important points when buying homeowners insurance near you in Florida. Let’s have a look below.
Check price differences and payment terms
It’s not necessary that your nearest insurance agency offers you good rates. Always get quotes from different insurance companies to compare the price difference and policy coverage. If one ask you to pay premiums monthly, whereas, other insurers offer different payment terms such as quarterly, annually, or bi-annually, make sure to go with the payment term which fits you comfortably.
Check if increasing your deductible is worth it
Deductibles are the amount according to the terms of your policy; a homeowner has to pay toward a loss before your provider starts to pay a claim. If you want to save money on your premiums, raising deductible amount can save you. Nowadays, most homeowners insurance companies near you in Florida recommend a deductible of at least $500. If you raise it to $1,000, you may save around 25% on your premium amount.
Check for additional coverage (flexibility)
Review what your home insurance policy says about adding more items to it. In general, all standard homeowners insurance policies near you in Florida cover you for additional purchases you made anytime during the year and also allow you to cancel extra insurance for items no longer worth you. You cannot add high-value items in your traditional home insurance policy and need High-value content coverage to pocket the difference.
Read: High-Value Insurance
Stay with the same insurer
If I stay with a homeowners insurance company near me for several years, do I receive a special discount for being their long-term committed policyholder? Well, that depends on your insurer’s company policy, some reduce their premiums by 5% if a homeowner stays with them for 3 to 5 years and a 10% for the longer duration. But if you stick with one insurance company for a longer period compare their discounts with that of other home insurance companies in Florida.
Is it time you checked your Florida home insurance policy?
If your homeowner policy is coming up soon, you may be leaving money on the table and would love to shop around! At Diverse Insurance Group, we want to hear your stories or efforts you made to save more on your home policy. Adding security features like fire alarms, burglar alarms, making home disaster resistant, other home improvements, etc. all could save you good money on your homeowner’s insurance premium in Florida.
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