subject: Obtaining Affordable Home Insurance In Florida [print this page] Most home owners understand that finding the best and most affordable home insurance policy takes time and a great deal of research. The most important part of obtaining home insurance is to find a reputable and financial stable insurance company. Finding affordable home insurance in Florida can be a bit difficult. The state has been ravaged by costly hurricanes and many companies have attempted to limit their business in the state. Insurance premiums have risen dramatically in Florida and many insurance companies limit the number of policies they will write in the state. However, with adequate research you will still be able to find an affordable insurance policy that provides the proper protection for your home.
The most expensive insurance rates in Florida will tend to be the areas of the state that are located on the coasts and low lying flood zones. One of the best ways to obtain information on companies that insure homes in Florida, is to check with the state's Insurance Commissioner's office. Florida is under siege every year with hurricanes or the torrential rains they bring to the area. So, most policies exclude covering flood damage unless you purchase an additional insurance rider. This is really where the high cost factors in. Research and asking questions is critical.
Many Floridians obtain their initial policy as part of their mortgage package. The problem with this is that after the first year, the premium on that policy can jump significantly. Policy holders are unaware of this practice and most often can not afford the premium hike. The best way to avoid this is to have information and quotes from other companies, so if you need to switch policies, you can.
There are many insurance companies to choose from in Florida, however, some may not offer additional protection for floods. Others may offer the additional protection, but the price may be high. The State of Florida does, however, offer assistance to many people that are having a difficult time obtaining the appropriate insurance. A list of available flood insurance riders are available from the Insurance Commissioner's office. Check with them before purchasing your home insurance as this may save you a great deal of money. You can also check your local phone book yellow pages for companies and you can even obtain quotes online. Also, you may want to ask friends and family about their insurance company. Before making a decision, check the financial status of the company you choose and make sure the company is financially stable.
A basic policy will cover the contents of the home and the home itself against fire, lighting, vandalism, theft and natural disasters. In Florida, most policies typically have exclusions for floods so you want to make sure you know exactly what the policy covers. The risk is high in Florida and when disaster strikes you want to make sure you have adequate insurance coverage from a company that will be able to meet the pay out demands. In the event of a disaster, you will be happy that you purchased a policy from a company that will be there in your time of need.
Obtaining Affordable Home Insurance In Florida
By: Todd Meyers
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