Florida homeowners have a wide range of insurance options. Some companies offer more coverage. Some companies offer more coverage than others. Compare multiple quotes from different companies before you decide. You should also pay attention to discounts offered for wind mitigation. Those features can protect your home and reduce your insurance premiums. They may also be free. It is worth checking with your insurance company to determine if they are available for discounts.
State Farm
State Farm announced plans to cancel nearly 700,000.0 homeowners insurance policies in Florida. The company is also cancelling close to 80,000 condominium and 62,000 renter policies. This rate hike was prompted by the Florida hurricane season of 2004, when the company's Florida affiliate had to borrow $750million 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.
State Farm homeowners insurance offers coverage for injuries due to flooding, fire, or other natural disasters. 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. In addition to competitive rates, this insurance company offers above-average service. Allstate is a major insurer, making it easy to get 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. It offers many discounts and endorsements that can save you money. These include hidden water damage coverage, a loyalty discount, a multi-policy discount, and discounts for smart-home security. You can also adjust your insurance coverage to suit your specific needs by selecting the right deductibles and coverage levels.
Travelers
Travelers offers standard home insurance coverage and optional coverage packages for a better value. Travelers can assist you in customizing your coverage to better protect your assets. To cover the cost of replacing or repairing green materials, you can include a green home improvement to your policy. No matter which coverage type you choose, you can expect average service and coverage satisfaction from this insurer.
Travelers also offers personal injury replacement cost settlement. This covers personal property up to the value of its replacement. The coverage covers personal property replacement costs, including depreciation. The policy covers a wide range of items, including medical expenses, property damage, and loss of use.
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.
Chubb's home insurance covers total losses up to $500,000 if your home is burned. The company will arrange temporary housing for you in nearby hotels, or similar homes. Chubb will also reimburse your expenses for food, lodging, and transportation. You also get coverage for damages due to natural disasters as well as liability lawsuits.
Universal Property
Universal Property Insurance offers homeowners discounts. Some of these discounts include automatic payment from your credit card or bank account, electronic statements, and claims-free discounts. Installing protective devices around the home can help you save money. Universal also offers replacement cost protection for property damaged.
Universal Property & Casualty Insurance Company (Fla.) was established in 1997. This Florida-based company provides home insurance in Florida, as well in other states. The company holds 9.7 percent of Florida's homeowners insurance market. The company sells homeowners insurance directly to consumers and through independent insurance agencies.