How to get cheap homeowners insurance in Florida
Insurance fraud, natural disasters, and a dwindling insurer market are all making Florida home insurance more expensive than the national average.
Whether you live in a hurricane-prone part of South Florida or own a rental property in a less populated area, like Chipley, you should always try to get the lowest rate possible for the coverage you need.
These tips can help you secure the most affordable rates possible:
1. Shop around for quotes
Even though some insurance companies have pulled out of Florida in recent years, the market is still competitive. You may be able to find lower-than-average home insurance costs simply by shopping around for home insurance quotes.
Many insurance companies only have general information and data on their websites, which is why you should ask an insurance agent how to lower the cost of your home insurance while still maintaining your desired coverage.
2. Make older homes more disaster-resistant
With the threat of storm damage, older homes may not have the latest structural features that protect against wind and other severe weather threats. By modernizing or updating your roof, windows, electrical systems, and more, you may qualify for lower premiums.
3. Bundle your homeowners insurance with another insurance policy
Some of the best homeowners insurance companies in Florida offer multiple insurance products. State Farm, for instance, offers discounts for customers who bundle their home insurance with other policies, like life insurance or auto insurance. You may also be able to get additional protection for your lifestyle at a cheaper combined rate than purchasing two policies from separate companies.
4. Consider the complete costs of homeownership before you buy a house
Remember that flood insurance isn’t part of a standard homeowners policy. Research areas where the cost of homeowners insurance has increased in recent years, paying specific attention to cities that have endured many hurricanes over the last decade. Understanding which neighborhoods have a higher flood risk can help you identify places with lower rates.
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