Best Home Insurance Companies In Florida - Tips for Reducing Homeowners Insurance Premiums

Dec. 11, 2010 - PRLog -- Best Home Insurance Companies In Florida

Increase your deductible!

Increasing your deductible can make a huge difference to your homeowner's insurance premium. We have seen premiums halved by taking the maximum deductibles for both wind and other events.

It means that the policy is only good in catastrophic circumstances, but people are using the following reasoning: if a hurricane hits, the damage will be catastrophic anyway.

Some are confiding that in the event of evacuating for a storm, that they will leave all their windows and doors open, so that they can actually cash in on the homeowner's insurance policy!

Change the policy on your goods from Replacement value to Actual Cash Value (ACV)

Citizens calculates the replacement value of your goods by halving the value of your home. So if you have a $600,000 home, they assume you have $300,000 worth of goods inside it. What I did to reduce my premium was to specify I wanted actual cash value rather than replacement value in the event of a loss and subsequent claim. A gamble, but in this Florida insurance monopoly it was one of the ways to get the premium down, in addition to specifying an outrageous deductible on your homeowner's (HO) policy. Check Internet #1 - Best Home Insurance Companies In Florida @ http://insurancecure01.webs.com and solve your problems right now!

Shop around for insurance brokers

You will want to shop around agents. Sometimes the quote that one Citizens agent provides will be different to the quote from another. Some insureds have saved hundreds of dollars by doing this.

For example:

I don't know which (if any) carriers are writing non-owner occupied insurance policies in that area, but I did find that shopping Citizens rates can make a big difference. The best Citizens quote I got for my son's Pasco home was $3,900 here in town, but an insurance broker in Orlando got me the same policy for $2,900 by using the $134,000 purchase price versus the $179,000 value local brokers were using, and charging lower fees.

The broker's name is Colleen Pacheco with Florida Insurance Planners at (407) 767-1634. She may even be able to insure homes with knob and tube wiring! She uses Lloyds of London in the quotes I have gotten.

Lloyds is a surplus lines carrier not regulated by the state of Florida. The rates they are charging are not regulated. If a surplus lines carrier were to go insolvent then the state would not take over paying any claims. That protection for consumers under the Florida Insurance Guaranty Act does not apply to surplus lines carriers. Check Internet #1 - Best Home Insurance Companies In Florida @ http://insurancecure01.webs.com and solve your problems right now!

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Having problems with Insurance? Don’t understand whether you are able to make claims?
Check Internet #1 - Best Home Insurance Companies In Florida @ http://insurancecure01.webs.com and solve your problems right now!