Florida residents have the freedom to choose from many insurance providers. Some companies offer more coverage than others. Some are more costly than others. Compare several quotes from different companies before making a decision. You should also pay attention to discounts offered for wind mitigation. These features will protect your home as well as reduce your insurance premiums. They might also be free. You should also check with your insurance company to see if there are any discounts.
State Farm
After a long, difficult year, State Farm is announcing plans to cancel nearly 700,000 homeowners insurance policies in Florida. The company is also cancelling almost 80,000 condominium policies, 62,000 renter policies, and 58,000 boat policies. Rate increases are a result of the 2004 hurricane season, which caused the Florida affiliate of the company to borrow $750 millions from State Farm Mutual of Illinois. The debt is still not paid and the Florida affiliate reported a drop in surplus of $201 million over the first three-quarters 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 a major insurer, making it easy to get 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 among the most popular among homeowners in Florida. Its history dates back to 1864, and it carries an A++ financial strength rating from AM Best. There are a variety of discounts and endorsements available that can help you save money. These include hidden water damage coverage, a loyalty discount, a multi-policy discount, and discounts for smart-home security. You can also customize your insurance coverage by choosing deductibles and coverage levels that best fit your needs.
Travelers
Travelers provides standard coverage for home insurance and offers optional coverage packages for an even better price. You can customize your coverage to include more assets by contacting the company's customer service team. You can also add green home upgrades to your policy to pay for the costs of green materials. Regardless of which type of coverage you choose, you can expect to receive average customer service and coverage satisfaction from this insurance company.
Travelers also offers personal injury replacement cost settlement. This covers personal property up to the value of its replacement. This coverage covers the cost for replacement of personal property. There is no depreciation. The policy covers many items including medical expenses, property loss, and 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. You can also bundle these policies with other insurance products to receive discounts. Visit Chubb for more information.
Chubb's Insurance offers cash settlements for total losses covered by your home if it is destroyed by fire. You will be provided with temporary housing in similar homes or hotels nearby. 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 homeowners several discounts. Some of these discounts include automatic bank and credit card payments, electronic statements, claims-free discounts, and automatic payment from your bank account. You can also save money by installing protective devices around your house. Universal also provides replacement cost insurance for any property damaged.
Universal Property & Casualty Insurance Company has been a Florida-based insurer since 1997. The company offers home insurance throughout Florida and in many other states. The company owns 9.7 per cent of the state's homeowners market. The company offers home insurance direct to customers as well as through independent agents.