Buying homeowners insurance is important to secure your home, and even your personal belongings, when unexpected circumstances come. But before doing so, you have to consider first these two most important things: time and money. Here are Florida home insurance buyers guide tips that you can use to save time and money:
Make Sure Your Florida Home Is Insurable
One of the Florida home insurance buyers guide rules that you should consider first is that your home must be insurable. Insurers want you to provide them extensive information as to your home to calculate the best premium for your home insurance policy. They can determine if your home is insurable by asking the following questions:
1. Where is your home located?
2. What’s the type of your roof?
3. When was your home built?
4. What are the dimensions of your home?
5. How old is the electrical and plumbing?
6. How many claims have you filed for the past five years?
7. Is your home next to a fire station?
8. Is your home flood-prone?
Some homeowners’ insurance firms have the propensity to refuse your home insurance claim if your home is situated in a rural area, which usually does not have a fire station in the vicinity. If that happens, you may want to inquire at a surplus-lines or specialty company, but expect that this quote will take more time to acquire.
Have a Higher Florida Home Insurance Deductible
By having a larger deductible on your policy, you can save more money. Generally, home insurance firms start endowing discounts at $500 deductible and add more discounts as the deductibles get bigger. Most of them provide deductibles of up to $10,000; however, bear in mind that several mortgage firms do not allow the insured to exceed a deductible of $1,000.
Know the Available Discounts
Be assured that you’re receiving all the credits that you deserve. All insured homeowners can receive up to 10% off if they have security devices installed in their house. If you are 55 and above, you can also get a discount. Most homeowners’ insurance companies offer the most common discount called the multi-policy discount. This kind of discount can save you money on your car and home insurance.
Those are the Florida home insurance buyers guide tips that can surely help you save time and money. Just keep all of these tips in your mind and you will certainly receive more than the benefits homeowners’ insurance firms can give.