Florida homeowners have the option of choosing from many insurance companies. Some insurance companies offer greater coverage than others. Others are more expensive than others. Before making a decision, compare multiple quotes from different companies. Also, take note of the discounts for wind mitigation. Those features can protect your home and reduce your insurance premiums. In addition, they may be free of charge. It is worth checking with your insurance company to determine if they are available for 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. This rate increase is in response to Hurricane Season 2004, which saw the Florida affiliate of State Farm Mutual of Illinois borrow $750 million. 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 includes coverage for injury due to flood, fire, and other natural hazards. 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. The company offers excellent service and competitive rates. Allstate is one the largest insurers so it's easy for you to access it from anywhere. To get the best deal, compare Allstate's rates with at most three to four other insurance providers.
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. 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 tailor your insurance coverage by choosing the coverage and deductible levels that best suit your needs.
Travelers
Travelers offers standard home coverage, as well as additional coverage packages that offer better value. Travelers provides customer service to help you personalize your coverage and 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. You can expect average customer service from this company, regardless of the type of coverage that you select.
Travelers also offers personal injury replacement cost settlement. This covers personal property up to the value of its replacement. This coverage covers the cost of replacing personal property without depreciation. The policy covers a wide variety of items, including medical bills, property damage, loss of use, and other expenses.
Chubb
Florida homeowners insurance from Chubb comes with many additional features. One example is that the company offers sewer backup coverage, something you may not have considered when looking for home insurance. These policies can be combined with other insurance products to get discounts. Visit Chubb's site for more information.
If your home is damaged by fire, Chubb's insurance offers cash settlements for covered total losses. The company will provide you with temporary housing in nearby hotels or similar homes. Chubb will also reimburse expenses for food or lodging. It also covers damage caused by natural catastrophes and liability lawsuits.
Universal Property
Universal Property Insurance offers homeowners a variety of discounts. You can get automatic payments from your bank or credit card account, electronic statements, as well as claims-free discounts. In addition, you can save money by installing various protective devices around your home. Universal also provides replacement cost insurance for any property damaged.
Founded in 1997, Universal Property & Casualty Insurance Company is a Florida-based insurer that offers home insurance in Florida and many other states. The company owns 9.7 per cent of the state's homeowners market. The company sells both home insurance directly to the consumer and through independent insurers.