How much is home insurance in Fl? That is the first question that pops into the mind of Florida residents who are looking to buy a property in the state. It is a difficult task to look for cheap homeowners insurance in Florida; the average annual premium of the state is approximately $2,084, which is actually the highest insurance rate in the country. This isn’t a shocker primarily because, geographically, Florida has a high risk of property damage due to the likelihood of floods, hurricanes, and tornadoes.
However, there are still ways to reduce the cost of home insurance in Florida. Some things can be brought into consideration such as the physical location of the property, its age, and the property’s condition. The insurance provider you choose will definitely affect the amount of your monthly installment as they are the ones who would determine them.
Here is some of the best home insurance in fl that will give you one of the cheapest rates.
Citizen’s Property Insurance Corporation
The Citizen’s Property Insurance Corporation, is a nonprofit, tax-exempt government organization that aims to provide insurance to the residents of Florida who aren’t able to find a private coverage. They have an 80% rating from Insurance.com and are among the top choice for having an affordable fl homeowners insurance average.
The company gives out various discounts on premiums that include breaks for complying with the Building Codes in Florida, the installation of storm shutters and impact-resistant doors and windows, as well as installation of various fire and theft alarm systems. They also provide various resources on their websites, including home safety education to increase awareness among homeowners.
“Safe & Sure” is the motto of the Safeway Company. It actually sums up how they provide homeowners insurance coverage to Florida residents.
They have an honest and straightforward policy, with coverage that includes repairs or replacement of home, garage, shed, and other personal properties, as well as financing of your costs of living in case you have to temporarily relocate because your home has been destroyed by a natural disaster. Aside from that, personal liability and medical expenses coverage also extend to the visitors who got injured in your home.
Although they are very straightforward with their policies, they don’t offer much information on their website. But, you can speak to an agent if you have concerns or if you want a policy that would just suit your needs.
St. John’s Insurance
St. John’s Insurance, a private homeowners insurance fla, that offers specialized insurance policies. Unlike most insurance companies, they only offer property coverage exclusively.
Although you can expect that they are insurance experts with a very specialized focus, most policyholders weren’t able to benefit from multi-policy discounts that larger insurance companies can offer. However, St. John’s have an excellent rating in terms of financial stability and competitive policy rates; thereby making them the top provider of homeowners insurance in Florida.
Universal Property and Casualty
The online presence of Universal Property and Casualty Company isn’t strong as some companies actually dominate the industry of Fla homeowners insurance by county; however, they compensate by offering the lowest homeowners insurance rates in the state. Their fl homeowners insurance average annually is about $1,500; over $500 less than the average of the state.
The company prides themselves of their excellent customer service, giving in-person assistance. In times of natural disaster and catastrophe, this service may be difficult to achieve. However, the company allows policyholders to file their claims anytime of the week, 24/7, by re-routing them using an automated system and giving opportunities for reconnection with the representatives.