Florida homeowners have a wide range of insurance options. Some insurance companies offer greater coverage than others. Others are more expensive than others. Before making a decision, compare multiple quotes from different companies. Consider the discounts that are 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. You should also check with your insurance company to see if there are any discounts.
State Farm
State Farm announces plans to cancel almost 700,000 homeowner insurance policies in Florida after a difficult year. The company also plans to cancel nearly 80,000 condominium policies, 62,000 renter insurance policies, and 58,000 boats 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. You can also choose to have your home's replacement cost automatically increased by 20%.
Allstate
Allstate Insurance is a good choice if homeowners are in Florida. The company offers excellent service and competitive rates. Allstate is a major insurer, making it easy to get it from anywhere. However, it is important to compare Allstate's insurance rates against at least three or more other insurance providers in order to get 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 water damage coverage and multi-policy discounts. You can also choose the coverage and deductibles that best suit you.
Travelers
Travelers offers standard home insurance coverage and optional coverage packages for a better value. Travelers provides customer service to help you personalize your coverage and cover 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 loss compensation, which covers the cost of replacing your personal property with a replacement at the replacement cost. This coverage covers the cost for replacement of personal property. There is no depreciation. The policy covers a broad range of items, including medical expenses and property damage as well as loss of use.
Chubb
Florida homeowners insurance by Chubb includes many extra features. For example, the company offers extra coverage for sewer backups, which you might not think about when considering your home insurance coverage. These policies can be combined with other insurance products to get discounts. Visit Chubb's website for more information.
Chubb's home insurance covers total losses up to $500,000 if your home is burned. The company will provide you with temporary housing in nearby hotels or similar homes. Chubb will reimburse you for lodging and food expenses. 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 bank and credit card payments, electronic statements, claims-free discounts, and automatic payment from your bank account. Additionally, you can save money installing protective devices around home. Universal also offers replacement cost protection for property damaged.
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 controls 9.7 percent in the state's home insurance market. The company offers home insurance direct to customers as well as through independent agents.