What Is the Best Homeowners Insurance in Florida?

Unless you are going to be purchasing Florida property with cash and even then it’s a good idea to find the best homeowners insurance in Florida. In fact, your mortgage financing company is going to require you to secure insurance to protect the property and their investment. So it’s best that you purchase what you need.

Pretty much every major insurance company (and almost all of the smaller, local operations as well) promised to provide Florida homeowners insurance quotes to property owners. However, there is a world of difference between individual policies, individual coverage options, and what you get for the money you are spending. Take advantage of the tips and tricks we provide below to find the perfect homeowners insurance in Florida for your specific needs.

Look for HO-3 and Above Policies

The most common, basic homeowners insurance policies according to https://floridainsurancequotes.net/florida-homeowners-insurance/ are classified as “HO-2”. These policies are the most restrictive, are the least comprehensive, and almost always include “named peril” policy language that only protects a specific list of problems. While everything else is unprotected by your insurance.

This is why it’s a good idea to look into HO-3 policies at a bare minimum. Not only are these policies going to provide a higher level of coverage they are also designated “open peril“ policies. This means they cover pretty much anything and everything outside of the specific risks that are outlined by your insurance company.

HO-5 insurance policies offer even broader levels of protection and about as close to “umbrella” protection levels as you’re going to find. They can also be a little bit more expensive. It’s important to understand that just about no home insurance policy is going to provide protection from:

  • Flooding
  • Earthquakes
  •  Landslides
  • Mold

And a host of other problems, even the best homeowners insurance in Florida. These are all secondary components that you may or may not be able to pay a little extra for but are components you have to investigate independently. Especially before you sign on the bottom line for your new homeowners insurance contract.

Verify the Financial Viability of the Insurance Company You’re Working With

Another key consideration you want to think about before you pull the trigger and invest in the best homeowners insurance in Florida at https://floridainsurancequotes.net/florida-homeowners-insurance/ is the financial viability of the insurance company you’re going to proceed with. You want to know, particularly in a state as populated as Florida, the potential for hundreds of thousands if not millions of homeowners all filing a claim at the same time. Your insurance company has the financial backing to fulfill claims and that they aren’t going to “cut and run” on you when things get tough.

Is Car Insurance High in Florida?

According to information and research recently published, Florida comes in as the eighth most expensive state in the US when it comes to car insurance. On average, your everyday Florida citizen is paying about $1654 a year for insurance. This figure comes in $329 higher than the overall nationwide average. That average sits at $1325 right now.

As a driver in Florida, you’re going to have to expect car insurance to be a little bit more pricey than it is in other states. That doesn’t mean that you have to spend a small fortune on insurance just because you live in the Sunshine State. There are a couple of things you can do to dramatically lower your car insurance costs and we share some of the best tips and tricks below.

In fact, by following the guide below you can start saving on your policy ASAP. Who wouldn’t want to start saving some cash on a policy? A few tips to start saving some cash include bundling, prepaying your insurance for the entire year, and a few other tips.

Bundle, Bundle, Bundle!

The smartest thing you can do when trying to save money on car insurance in Florida according to https://floridainsurancequotes.net/florida-auto-insurance/ is to bundle that automobile insurance with other forms of insurance. This enables saving upwards of 30% (sometimes even more) off your total cost of insurance with this maneuver.

Pretty much every major insurance company, as well as all of the smaller, local insurance companies, are going to be more than happy to offer you this kind of discount. Bundling is maybe the easiest way to cut the cost of car insurance Florida drivers pay dramatically. Remember to ask about bundling when shopping.

Prepay Your Insurance for the Year

If you have the opportunity to prepay a year’s worth of insurance in advance (or even just six months in advance) you can often save up to 20% off. In some situations, you can easily save even more on car insurance in Florida over at https://floridainsurancequotes.net/florida-auto-insurance/. Not everyone is going to be in a financial position where they have this kind of flexibility. But if you are it is well worth making this kind of investment, as you will save hundreds of dollars annually that would have been spent on insurance otherwise. All while getting the exact same coverage, the exact same protection, and working with an insurance company you feel comfortable with already.

How Much Is Renters Insurance per Month in Florida?

According to new information released, the average cost of renters insurance in Florida sits at just about $12 per month for every $30,000 worth of property coverage and $100 worth of liability coverage. It shouldn’t surprise people that live in Florida that their renters insurance is so much higher than the national average, especially considering just how susceptible Florida is to incredibly extreme weather conditions, including hurricanes.

When you have these kinds of risk factors you’re going to be staring at a rental insurance policy that’s a little more expensive than you’d find somewhere in the Midwest, for example. At the same time, you don’t have to spend a tremendous amount of money on quality renters insurance, either. There are ways to cut your costs on renters insurance in Florida according to https://floridainsurancequotes.net/renters-insurance-quote/ without having to cut corners on coverage or protection. Check out the tips and tricks we share below.

Increase Your Savings by Increasing Your Deductible

Increasing your deductible (your out-of-pocket cost) from $500-$1000 can very often save you anywhere between 20% and 30% or more of your total insurance costs. Obviously, it’s a good idea to parlay at least some of that savings towards an emergency reserve you can use should you need to pay this higher deductible – but the money you’ll save on monthly premiums almost always makes up for it.

Install Safety and Security Features

As a renter, you have an opportunity to install fire extinguishers, extra smoke detectors, and other safety and security features (including deadbolts, etc.) that allow you to increase the safety nest of your apartment without having to spend a mountain of money. These investments will always help you to save money on your rental insurance as well, giving you a chance to protect your home and your property while protecting your bank account at the same time.

Prepay as Much of Your Policy as Possible

Prepayment of insurance is always going to help you save a considerable amount of money, and prepaying a decent chunk of your renters insurance in Florida from https://floridainsurancequotes.net/renters-insurance-quote/ can save you anywhere between a full month or even two months of premiums you would have had to pay otherwise. Those that can prepay six months of insurance will usually see a hefty discount but those that prepay in the entire year for the renters insurance will see the biggest discounts to be sure.