Florida homeowners have a wide range of insurance options. Some offer more coverage than other. Some companies offer more coverage than others. Before you make a final decision, compare several quotes from different companies. Pay attention to the discounts available for wind mitigation. These features can help you protect your home, and decrease your insurance premiums. You may even be able to get them free. They may be free of charge if you ask your insurance company.
State Farm
State Farm announced plans to cancel nearly 700,000.0 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. The rate hike is a response to the hurricane season of 2004, which forced the company's Florida affiliate to borrow $750 million from its 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 insurance includes coverage for injury due to flood, fire, and other natural hazards. It also provides an "increased domicile limit" option that automatically extends the replacement value of your home by 20%.
Allstate
Allstate is the best choice if you are looking for homeowners insurance in Florida. This insurance company not only offers competitive rates but also provides above-average customer service. Allstate is a large insurer so you can access it from nearly anywhere. You should still compare Allstate insurance rates with at minimum three to four insurance providers to find the best deal.
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. You can also save money by obtaining endorsements or discounts. These discounts include hidden water damage coverage and multi-policy discounts. You can also adjust your insurance coverage to suit your specific needs by selecting the right deductibles and coverage levels.
Travelers
Travelers provides standard coverage for home insurance and offers optional coverage packages for an even better price. The company offers customer service that can help you customize your coverage to cover 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 loss compensation, which covers the cost of replacing your personal property with a replacement at the replacement cost. 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. 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. These policies can also be combined with other products for discounts. For more information, visit Chubb's website.
If your home is damaged by fire, Chubb's insurance offers cash settlements for covered total losses. 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. The policy also covers liability lawsuits and damages caused by natural events.
Universal Property
Universal Property Insurance offers homeowners several discounts. You can get automatic payments from your bank or credit card account, electronic statements, as well as 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.
Universal Property & Casualty Insurance Company, a Florida-based insurance company, was founded in 1997. They offer home insurance in Florida and other states. The company owns 9.7 per cent of the state's homeowners market. The company offers home insurance direct to customers as well as through independent agents.