Your home is one of your most valuable assets, so you want to make sure it’s protected with a sound homeowner’s insurance policy. Along with sunshine and beautiful beaches, the Florida property insurance market has some unique qualities due to its exposure of the country’s most extreme weather events, so you want to make sure you have the coverage you need at the best rate.
What Coverage Do You Need?
Since Florida is susceptible to sinkholes and natural disasters, such as hurricanes, it’s important to consider flood insurance or other additional coverages sometimes not included in a standard policy. You’ll most definitely want to focus on the hurricane coverage and deductible.
How to Shop for Home Insurance in Florida
- Get Quotes from Multiple Companies: Whether you are using a broker (interview several to find the right one) or researching on your own, make sure to get rates from multiple companies. It’s important to research on more than cost alone. As discussed, the availability of separate riders for hurricane and flood insurance is an important factor in choosing a carrier. Whenever it’s time to renew your policy, you should research and reevaluate if your current policy still provides the best coverage at the most affordable rate, since they can, and often due, fluctuate year to year.
- Is there an Opportunity to Bundle: Having more than one policy with the same insurance company can save you time and money. Grouping different policies together, such as car and home insurance, can lead to significant discounts.
- Do a Home Inventory: The best way to make sure you are getting the coverage you need is by having an accurate, up-to-date list of your home’s contents. Don’t be tempted to underestimate the value of your belongings to secure a lower rate. Another piece of advice is to take pictures of your contents in the rare case that you’ll have to prove content loss due to a disaster.
- Consider a Higher Deductible to Save Money: If it’s financially feasible, settling on a higher deductible might be a good idea to keep your rate down.
Since the first time you will be purchasing an insurance policy is when purchasing your home, a responsible title agent will make sure it will be paid prior to or at closing without issue. If you are escrowing with a lender, make sure they are making payments on time because lapses often carry hefty penalties.
When choosing The Law Office of Donna Hearne-Gousse, P.A. for your title, escrow, and closing needs, you’ll enjoy all the benefits of an attorney based title agency with similar and in many cases lower rates than a standard title company will charge.
The Law Office of Donna Hearne-Gousse