Essential Tips for Florida Property Insurance
The majority of homeowners usually have a requirement known as Florida property insurance. It’s important to understand that there are a lot of important details that must be understood to obtain the best coverage and rates.
We have created a list of the most frequently asked questions for those in the market for homeowner’s insurance in Florida.
Type of Residence
The type of home you own will significantly impact the property insurance coverage; there are multiple types of policies and coverage limits depending on the type of residence. Examples:
- Traditional Homes
- Rental Properties
- Manufactured Homes
There are different requirements for each type of home and varying policies, too, so it’s important to be accurate with your agent and also provide as much information as possible.
Age of Property
The typical rate for older properties range higher than those of newer properties. In fact, new homes are the lowest costing for property insurance. It’s important to be as accurate with the date of the home as possible for the best possible rates.
The location of your home is a major factor in determining the rates of your property insurance. Risk is calculated based on multiple factors, such as potential for flooding and other severe weather. Insurance agents will consider historical data for this, as well as crime. It’s critical to understand the history of where your property is located for an increased understanding of the possible rates for property insurance.
Type of Building Materials Used for Property
Another big influence on the rates for property insurance in Florida is the type of material used to build your home. Homes made from wood are more prone to wind and fire damage, as opposed to brick homes that are sturdier. The stronger the home is, the less the property insurance rate will be.
If your property is a Historical home or place this will affect your Florida insurance rates. Only if your home is a part of the National Register of Historic Places or Homes will you need to provide this information to an agent.
Preventive Fire Damage Location
Every second counts when there is a fire, so if you live within one thousand feet of a fire hydrant or fire station you can save on your property insurance. It’s important to find out the exact distance of your home from these two fire protection locations. One easy method to accomplish this is by using google maps to calculate the distance between your home and your local fire station.
If you have any recent claims, this information is needed for your agent along with any property insurance losses.
Collecting the above information for your agent will save you a lot of time and money on your Florida property insurance purchase. These are just a few tips among many more that can be found throughout our blog. Our knowledge is derived from over 10 years in this industry. Have confidence in our mission to save you the most money possible.