In Florida, homeowners have the choice of many insurance companies. Some offer more coverage than other. Some companies are more expensive than others. Compare several quotes from different companies before making a decision. Pay attention to the discounts available for wind mitigation. These features can help protect your home and lower your insurance premiums. These features may also come free of charge. They may be free of charge if you ask your insurance company.
State Farm
State Farm has announced plans to end nearly 700,000. homeowners insurance policies in Florida, after a hard year. The company is also cancelling almost 80,000 condominium policies, 62,000 renter policies, and 58,000 boat policies. The rate rise is due to the Florida affiliate's 2004 hurricane season that forced them to borrow $750m from their parent company, State Farm Mutual of Illinois. 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 policy offers many benefits, including coverage for flooding, fire, as well as other natural disasters. There is also an option to increase your home's worth by 20%.
Allstate
Allstate is an excellent choice for homeowners insurance in Florida. The company offers excellent service and competitive rates. Allstate is one of the biggest insurers, so it's easy to access it from almost anywhere. However, it is important to compare Allstate's insurance rates against at least three or more other insurance providers in order to get the best deal.
This company is a favorite among Florida homeowners. Its history dates back 1864 and it holds an A++ financial strength rating by AM Best. It offers many discounts and endorsements that can save you money. These include hidden water damages coverage, loyalty discounts, multi-policy discounts, and discounts for smart home security. You can also choose the coverage and deductibles that best suit you.
Travelers
Travelers provides standard coverage for home insurance and offers optional coverage packages for an even better price. Travelers offers customer service that will help you tailor your coverage to protect more assets. To cover the cost of replacing or repairing green materials, you can include a green home improvement to your policy. Regardless of which type of coverage you choose, you can expect to receive average customer service and coverage satisfaction from this insurance company.
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 variety of items, including medical bills, property damage, loss of use, and other expenses.
Chubb
The Chubb Florida homeowners insurance includes a variety of additional features. Chubb homeowners insurance in Florida includes extra coverage for sewer backups. This is something you might not consider when looking at your home insurance coverage. 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 help you find temporary accommodation in nearby hotels or homes similar to yours. Chubb will also reimburse expenses for food or lodging. The policy also covers liability lawsuits and damages caused by natural events.
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. You can also save money by installing protective devices around your house. 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 controls 9.7 percent in the state's home insurance market. The company sells both home insurance directly to the consumer and through independent insurers.