Have you asked us for an auto quote yet? We can shop your policy with 5 carriers at once to find the best rate.

Has your homeowners insurance premium decreased this year?

After several years of rising insurance costs in Florida, we are seeing some welcome price decreases, and many of the Florida-based carriers are expanding their underwriting guidelines and accepting homes that were ineligible before. Here are some tips to help you save money on your home owners insurance.

Wind Mitigation Discounts
We encourage all of our clients to apply for a free wind inspection through the My Safe Florida Home program by visiting www.mysafefloridahome.com or calling toll-free 866.513.6734. This is a two-step process.

1. A licensed professional will inspect your home to identify potential mitigation measures and verify improvements. This wind inspection is free of charge.
2. The inspector will give you a report outlining some of the insurance discounts that may be available to you. You will then send the report to us so we can apply these credits to your policy.

The report will also suggest additional measures you can take to strengthen your home against wind damage. If you choose to make these improvements, a licensed contractor can give you an estimate of the cost. Some homeowners may be eligible for a grant of up to $5,000 to help with the cost of improvements.

Here are two examples of our clients whose premiums dropped after their recent wind inspection:

Home in Jacksonville, FL
$1,708     Annual Premium
$1,410     Premium after discount
$298        Savings of 18%

Home in Cocoa Beach, FL
$3,437     Annual Premium
$2,144     Premium after discount
$1,293      Savings of 38%

The inspection is free and cannot cause your premium to increase.

Deductible
Many deductibles are available on your policy, depending on the value of your home. You can choose a $500, 2%, 5%, or 10% deductible depending on the actual value of your home. The larger your deductible, the lower your premium will be. If you are interested in increasing your deductible, please contact your mortgage lender first to find out the highest deductible they allow.

Buy all of your policies from the same insurance agency.
Sometimes it’s more cost effective to bundle your policies together, and sometimes the best deals are available through separate carriers. If you need auto or flood insurance, please request a quote here. 

Improve your home security.
You can usually get discounts of at least 5 percent for a smoke detector, burglar alarm or dead-bolt locks. Some companies offer to cut your premium by as much as 15 or 20 percent if you install a sophisticated sprinkler system and a fire and burglar alarm that rings at the police, fire or other monitoring stations. These systems aren't cheap and not every system qualifies for a discount. Before you buy such a system, find out what kind your insurer recommends, how much the device would cost and how much the discount will be. There is also a discount for living in a gated community.

Make payments on time.
Yes, premiums are rising, but finding replacement coverage for a lapsed policy is even more expensive. Many of our companies accept credit cards or e-checks for quick, online payments.

Avoid filing minor claims.
If your deductible is $1,000 and you need $1,270 worth of repairs from a faulty fuse, don’t file the claim. Simply pay the $1,270 and get the work done. You will still have to pay the majority of the amount anyway, but it won’t count against you if you avoid filing the claim. Several small claims – even valid ones – can increase your premiums dramatically and even prompt the carrier to drop you from the policy. If you would like to discuss anything before you file a claim, please call us.

Show pride of ownership.
All companies inspect the properties they insure. Make sure yours is one they want to keep. If they ask for additional information, please respond quickly. Don’t give them any reason to cancel your policy.

Review the limits in your policy and the value of your possessions at least once a year.
The average length of home ownership is about 7 years, although many people stay in the same home for 15, 20 or more years. The key point is that your life changes over this long period: Your house increases in value, you have more possessions to protect and/or your net worth increases --- assets that could be exposed in a liability situation. You want your policy to cover any major purchases or additions to your home. But you don't want to spend money for coverage you don't need.

Don’t confuse what you paid for your house with rebuilding costs.
The land under your house isn't at risk from theft, windstorm, fire and the other perils covered in your homeowners policy so don't include its value in deciding how much homeowners insurance to buy. If you do, you will pay a much higher premium. Replacement Cost coverage insures you for the COST to replace your loss. For example, if your home is destroyed and it had a market value of $500,000, but will cost $300,000 to rebuild today in a similar way, you would get $300,000. The market value of your home includes the value of the land and/or location, which aren't insurable because they wouldn't be destroyed in a fire or other covered loss.