There are several ways to get cheap homeowners insurance in Florida if you already own a home, but if you are considering a purchase for the first time, you are in a great position to take an important step toward future savings. The house you select will have an affect on the premiums you pay. Large expensive homes cost more money to insure, as do homes that are far from a fire department, or which are located in an area commonly affected by hurricanes. Learning the types of properties that insurance companies like to avoid will save you money.
Insurance companies like to see that homes are protected from risks, so burglar alarms and home security systems will yield a discount in most cases. Usually this will require proof that an alarm system is installed and that a monitoring contract is in place.
Florida presents a unique insurance environment when it comes to cheap homeowner’s insurance. There are simply fewer companies that are willing to provide coverage in that state due to the high frequency of hurricanes and cyclone activity. For this reason, it is imperative to shop around for quotes as much as possible. Typical advice would be to obtain 3 or 4 quotes from reputable agents, but with costs fluctuating by thousands, it will pay to leave no stone unturned. Another tip is to avoid complacency and monitor your rates each year as the policy renews. You may find that premium begins to creep upward and that another shopping session may be warranted.
One factor that is well within your control is the size of your deductible. Insurers recognize that people who have more at stake personally will be less likely to make a claim. Since fewer claims means more profit to the insurer, they are willing to give a break to those who have a higher deductible on the policy.
Insurers like any business prefers to get their money up front and on time. However, most carriers do offer alternate payment plans such as monthly, or quarterly instead of yearly. If you are paying in increments of less than a year, your premium is higher so consider getting on a yearly payment plan right away. Whatever plan you choose, make sure that your Florida homeowners insurance payments are made on time, every time. Late payments will cost you a fee, and a history of non-payment is not likely to net you any favor with the insurance company when it comes to future discounts. Automated payments from your checking or savings account is a great way to handle these payments by putting them on “auto-pilot”.
Insurers often do unannounced “street-side” inspections of the properties they insure. If your home is in rough shape, an insurer may be less inclined to continue writing your policy, or provide any discounts because carelessness in terms of housekeeping can lead to conditions like debris and electrical hazards that can cause fires.
Finally, the multiline discount is available through most companies that write auto and cheap homeowner’s insurance. Unfortunately, most of the companies that remain in Florida and write Florida homeowner’s insurance do not write auto insurance.