Florida homeowners have the option of choosing from many insurance companies. Some offer more coverage than other. Some companies are more expensive than others. Compare multiple quotes from different companies before you decide. Pay attention to the discounts available for wind mitigation. These features can help protect your home and lower your insurance premiums. You may even be able to get them free. If you install them, you should check with your insurance company about any possible discounts.
State Farm
State Farm has announced plans to end nearly 700,000. homeowners insurance policies in Florida, after a hard year. The company is also cancelling almost 80,000 condominium policies, 62,000 renter policies, and 58,000 boat policies. This rate increase is in response to Hurricane Season 2004, which saw the Florida affiliate of State Farm Mutual of Illinois borrow $750 million. This debt still remains unpaid. The Florida affiliate reported that their surplus had declined by $201 millions during the first three months of 2008.
State Farm homeowners' insurance provides coverage for injuries resulting from flooding, fire and other natural catastrophes. The policy also includes an "increased residence limit", which automatically increases your home's value by 20%.
Allstate
Allstate is a great choice if your goal is to get homeowners insurance for Florida. This insurance company not only offers competitive rates but also provides above-average customer service. Allstate is one the largest insurers so it's easy for you to access it from anywhere. You should still compare Allstate insurance rates with at minimum three to four insurance providers to find the best deal.
This company is highly regarded by Florida homeowners. Its roots date back to 1864. AM Best gives it an A++ rating in financial strength. Additionally, it offers a number of endorsements and discounts that can save you money. These discounts include hidden damage coverage, loyalty discount, multi-policy discount and discounts for smart-home safety. You can customize your insurance coverage by selecting the deductibles or coverage levels that meet your needs.
Travelers
Travelers offers standard insurance coverage and additional coverage packages for a greater value. Travelers offers customer service that will help you tailor your coverage to protect more assets. For example, you could add a green home renovation to your policy in order to pay for green materials. This insurance company will provide average customer service, satisfaction and coverage regardless of what coverage you choose.
Travelers also offers personal property replacement cost settlement, which pays you for your personal property at replacement cost at the time of a loss. This coverage covers the cost of replacing personal property without depreciation. The policy covers a broad range of items, including medical expenses and property damage as well as loss of use.
Chubb
The Chubb Florida homeowners insurance includes a variety of additional features. You might not be aware that Chubb offers additional coverage for sewer backups when you are looking into your home insurance. These policies can be combined with other insurance products to get discounts. Visit Chubb for more information.
If your home is damaged by fire, Chubb's insurance offers cash settlements for covered total losses. The company will help you find temporary accommodation in nearby hotels or homes similar to yours. Chubb will also reimburse you for expenses for food and lodging. The policy also covers liability lawsuits and damages caused by natural events.
Universal Property
Universal Property Insurance offers a number of discounts to homeowners. Some of these discounts include automatic payments to your bank account or credit cards, electronic statements and claims free discounts. You can also save money by installing protective devices around your house. In addition, Universal also offers replacement cost coverage for damaged property.
Universal Property & Casualty Insurance Company (Fla.) was established in 1997. This Florida-based company provides home insurance in Florida, as well in other states. The company owns 9.7 per cent of the state's homeowners market. The company sells home insurance directly to consumers as well as through independent insurance agencies.