Florida homeowners have the option of choosing from many insurance companies. Some companies offer more coverage. Some companies are more expensive than others. Before making a decision, compare multiple quotes from different companies. Consider the discounts that are available for wind mitigation. Those features can protect your home and reduce your insurance premiums. They might also be free. Check with your insurance company for any discounts if you decide to install them.
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. 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. This debt still remains unpaid. The Florida affiliate reported that their surplus had declined by $201 millions during the first three months of 2008.
Among the many benefits offered by State Farm homeowners insurance, there is coverage for injuries caused by flooding, fire, and other natural disasters. It also offers an "increased dwelling limit" option, which automatically extends your home's replacement value by 20%.
Allstate
If you're considering getting homeowners insurance in Florida, Allstate is a solid choice. The insurance company provides excellent service, as well as competitive rates. Allstate is an insurance company that's large enough to be accessible from any location. 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 a favorite among Florida homeowners. Its history dates back to 1864, and it carries an A++ financial strength rating from AM Best. You can also save money by obtaining endorsements or discounts. These include hidden-water damage coverage, loyalty discount and multi-policy discounted, as well as discounts for smart-home security. You can customize your insurance coverage by selecting the deductibles or coverage levels that meet your needs.
Travelers
Travelers provides standard home insurance coverage as well as optional coverage packages to provide better value. The company offers customer service that can help you customize your coverage to cover more assets. For example, you can add a green home upgrade to your policy to cover the costs of repairing or replacing 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. The coverage covers personal property replacement costs, including depreciation. This policy covers a large range of items such as medical expenses, property damage and loss of usage.
Chubb
The Chubb Florida homeowners insurance includes a variety of additional features. Chubb homeowners insurance in Florida includes extra coverage for sewer backups. This is something you might not consider when looking at your home insurance coverage. 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 pay for your food and lodging expenses. In addition, it covers damages caused by natural disasters, as well as liability lawsuits.
Universal Property
Universal Property Insurance offers homeowners a variety of discounts. Some of these discounts include automatic payments to your bank account or credit cards, electronic statements and claims free discounts. Additionally, you can save money installing protective devices around home. 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 controls 9.7 percent in the state's home insurance market. The company sells home insurance directly through independent insurance agents as well.