Florida homeowners have a wide range of insurance options. Certain companies provide more coverage than others. 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. These features will protect your home as well as reduce your insurance premiums. You may even be able to get them 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. State Farm will also be cancelling nearly 80,000 condo policies, 62,000 renter policy, 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. 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 policy offers many benefits, including coverage for flooding, fire, as well as 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. In addition to competitive rates, this insurance company offers above-average service. Allstate is a large insurer so you can access it from nearly anywhere. Nevertheless, you should compare Allstate's insurance rates with at least three or four other insurance providers to find the best deal.
This company is among the most popular among homeowners in Florida. Its roots date back to 1864. AM Best gives it an A++ rating in financial strength. Additionally, it offers a number of endorsements and discounts that can save you money. These include hidden-water damage coverage, loyalty discount and multi-policy discounted, as well as 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 insurance coverage and additional coverage packages for a greater value. The company offers customer service that can help you customize your coverage to cover more assets. You can add a green house upgrade to your policy, which will cover the costs for repairing or replacing environmentally-friendly materials. 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 broad range of items, including medical expenses and property damage as well as loss of use.
Chubb
Chubb homeowners insurance in Florida comes with a range of extra features. You might not be aware that Chubb offers additional coverage for sewer backups when you are looking into your home insurance. For discounts, these policies can be combined to other insurance products. Chubb has more information.
If your home is damaged by fire, Chubb's insurance offers cash settlements for covered total losses. 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. In addition, it covers damages caused by natural disasters, as well as liability lawsuits.
Universal Property
Universal Property Insurance offers homeowners discounts. Some of these discounts include automatic bank and credit card payments, electronic statements, claims-free discounts, and automatic payment from your bank account. Installing protective devices around the home can help you save money. In addition, Universal also offers replacement cost coverage for damaged property.
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 has a 9.7 percent share of the state's homeowners insurance market. The company offers home insurance direct to customers as well as through independent agents.