Florida homeowners have a wide range of insurance options. Some offer more coverage than other. Some companies are more expensive than others. Compare multiple quotes from different companies before you decide. Wind mitigation discounts are also worth considering. These features can protect your house and help reduce your insurance premiums. In addition, they may be free of charge. You should also check with your insurance company to see if there are any discounts.
State Farm
State Farm announces plans to cancel almost 700,000 homeowner insurance policies in Florida after a difficult year. The company is also cancelling almost 80,000 condominium policies, 62,000 renter policies, and 58,000 boat 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. As of August, this debt remains unpaid, and the Florida affiliate reported its surplus had dropped by $201 million during the first three quarters of 2008.
State Farm homeowners insurance offers coverage for injuries due to flooding, fire, or other natural disasters. There is also an option to increase your home's worth by 20%.
Allstate
Allstate Insurance is a good choice if homeowners are in Florida. The insurance company provides excellent service, as well as competitive rates. Allstate is one of the biggest insurers, so it's easy to access it from almost anywhere. To get the best deal, compare Allstate's rates with at most three to four other insurance providers.
This company is one of the most loved by 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 discounts include hidden damage coverage, loyalty discount, multi-policy discount and discounts for smart-home safety. You can also choose the coverage and deductibles that best suit you.
Travelers
Travelers offers standard home insurance coverage and optional coverage packages for a better value. You can customize your coverage to include more assets by contacting the company's customer service team. You can add a green house upgrade to your policy, which will cover the costs for repairing or replacing environmentally-friendly materials. You can expect average customer service from this company, regardless of the type of coverage that you select.
Travelers also offers personal item replacement cost settlement. This will pay you for your personal items at replacement price in the event that they are damaged or destroyed. The coverage pays for the cost of replacement for personal property, without depreciation. This policy covers a large range of items such as medical expenses, property damage and loss of usage.
Chubb
Florida homeowners insurance by Chubb includes many extra features. One example is that the company offers sewer backup coverage, something you may not have considered when looking for home insurance. To get discounts, you can combine these policies with other insurance products. Visit Chubb for more information.
Chubb's Insurance offers cash settlements for total losses covered by your home if it is destroyed by fire. The company will provide you with temporary housing in nearby hotels or similar homes. Chubb will also reimburse you for expenses for food and lodging. It also covers damage caused by natural catastrophes and liability lawsuits.
Universal Property
Universal Property Insurance offers homeowners a variety of discounts. Some of these discounts include automatic payment from your credit card or bank account, electronic statements, and claims-free discounts. In addition, you can save money by installing various protective devices around your home. Universal also provides replacement cost coverage for property that has been 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 holds 9.7 percent of Florida's homeowners insurance market. The company sells home insurance directly through independent insurance agents as well.