Florida residents have many options when it comes to insurance. Some insurance companies offer greater coverage than others. Some companies offer more coverage than others. Compare quotes from several companies before you make a decision. Wind mitigation discounts are also worth considering. Those features can protect your home and reduce your insurance premiums. You may even be able to get them free. You should also check with your insurance company to see if there are any discounts.
State Farm
After a long, difficult year, State Farm is announcing plans to cancel nearly 700,000 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. 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. This debt still remains unpaid. The Florida affiliate reported that their surplus had declined by $201 millions during the first three months of 2008.
State Farm homeowners' insurance provides coverage for injuries resulting from flooding, fire and other natural catastrophes. There is also an option to increase your home's worth by 20%.
Allstate
Allstate is the best choice if you are looking for homeowners insurance in Florida. The insurance company provides excellent service, as well as competitive rates. Allstate is a major insurer, making it easy to get it from 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 goes back to 1864. AM Best rates it A++ for financial strength. It offers many discounts and endorsements that can save you money. These include hidden water damage coverage, a loyalty discount, a multi-policy discount, and discounts for smart-home security. You can customize your insurance coverage by selecting the deductibles or coverage levels that meet your needs.
Travelers
Travelers provides standard home insurance coverage as well as optional coverage packages to provide better value. The company offers customer service that can help you customize your coverage to cover more assets. You can add a green house upgrade to your policy, which will cover the costs for repairing or replacing environmentally-friendly materials. This insurance company will provide average customer service, satisfaction and coverage regardless of what coverage you choose.
Travelers also offers personal item replacement cost settlement. This will pay you for your personal items at replacement price in the event that they are damaged or destroyed. 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
The Chubb Florida homeowners insurance includes a variety of additional features. The company provides extra coverage for sewer backups. 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. The company will help you find temporary accommodation in nearby hotels or homes similar to yours. Chubb will reimburse you for lodging and food expenses. It also covers damage caused by natural catastrophes and liability lawsuits.
Universal Property
Universal Property Insurance offers homeowners several discounts. Some of these discounts include automatic bank and credit card payments, electronic statements, claims-free discounts, and automatic payment from your bank account. Additionally, you can save money installing protective devices around home. Universal also provides replacement cost coverage for property that has been damaged.
Universal Property & Casualty Insurance Company (Fla.) was established in 1997. This Florida-based company provides home insurance in Florida, as well in other states. The company owns 9.7 per cent of the state's homeowners market. The company sells both home insurance directly to the consumer and through independent insurers.