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Tips for reducing homeowners insurance premiums during Florida’s home insurance crisis

Increase your discount!

Increasing your deductible can make a big difference to your homeowner’s insurance premium. We’ve seen premiums halve by taking the maximum deduction for both winds and other events.

This means that politics is only good in catastrophic conditions, but people use the following logic: if a hurricane hits, the damage will be catastrophic anyway.

Some admit that in the event of an eviction due to a storm, they will leave all their windows and doors open, so they can actually take advantage of their homeowner’s insurance policy!

Change your merchandise policy from replacement value to actual cash value (ACV)

Citizens calculate the replacement value of your merchandise by halving the value of your home. So if you have a $600,000 home, they assume you have $300,000 worth of merchandise inside. What I did to reduce my premium was to specify that I wanted an actual cash value rather than the replacement value in the event of a loss and subsequent claim. A gamble, but in this Florida insurance monopoly, one way to lower the premium, as well as set an outrageous discount on your home owner’s (HO) policy, was one way.

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