In Florida, homeowners have the choice of many insurance companies. Some insurance companies offer greater coverage than others. Some coverage is more expensive than other. Before making a decision, compare multiple quotes from different companies. Wind mitigation discounts are also worth considering. These features will protect your home as well as 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 announced plans to cancel nearly 700,000.0 homeowners insurance policies in Florida. The company will also cancel almost 80,000 condominium policies and 62,000 renter policies. It will also cancel 58,000 boat insurance 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. The debt was still outstanding, and as of August, the Florida affiliate reported that the surplus had decreased by $201 million in the first three quarters 2008.
State Farm homeowners' insurance provides coverage for injuries resulting from flooding, fire and other natural catastrophes. It also offers an "increased dwelling limit" option, which automatically extends your home's replacement value by 20%.
Allstate
Allstate is an excellent choice for homeowners insurance in Florida. In addition to competitive rates, this insurance company offers above-average service. 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 very popular with homeowners in Florida. It dates back to 1864. AM Best has given it an A++ rating for financial strength. It offers many discounts and endorsements 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. For example, you can add a green home upgrade to your policy to cover the costs of repairing or replacing green materials. Regardless of which type of coverage you choose, you can expect to receive average customer service and coverage satisfaction from this insurance company.
Travelers offers personal property replacement costs settlement. This pays for personal property at its replacement cost in the event of a loss. The coverage covers the cost to replace personal property. This policy covers a large range of items such as medical expenses, property damage and loss of usage.
Chubb
Chubb homeowners insurance in Florida comes with a range of extra 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 also be combined with other products for discounts. Chubb has more information.
Chubb insurance will pay cash for your total loss if your house is burned by fire. You will be provided with temporary housing in similar homes or hotels nearby. Chubb will also pay for your food and lodging expenses. You also get coverage for damages due to natural disasters as well as liability lawsuits.
Universal Property
Universal Property Insurance offers a number of discounts to homeowners. 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 insurance for any property damaged.
Universal Property & Casualty Insurance Company has been a Florida-based insurer since 1997. The company offers home insurance throughout Florida and in many other states. The company has a 9.7 percent share of the state's homeowners insurance market. The company sells home insurance directly through independent insurance agents as well.