How To Reduce The Costs Of Homeowner's Insurance

2008-09-30 Word Count: 419 Category: Insurance

Reducing the cost of homeowners insurance in Florida is actually easier than you may think.

Keeping the lid on expenses in your life is becoming a major necessity these days. Health care costs are rising, gas is getting almost more expensive than your mortgage payments, and homeowner's insurance is poised on the brink of increases.

It's not a mystery why the rates are going to shoot up. Thank Mother Nature and her hurricane contributions for that. It's time to check your homeowner's policy to see what is covered and what to do to lower the cost of the rate hikes.

Actually one of the best ways to lower your insurance premiums is to increase your deductible. You can do this with any insurance policy, however having said that, you'd get bigger benefits by doing it with your homeowner's insurance. If you're wondering what to increase it to, shoot for around $2,500 and you'd be saving mega bucks yearly.

As odd as this may sound, since we're told online shopping is cheaper, do NOT shop online for homeowner's insurance if you live in a hurricane prone area. Shop local and work with an agent that has a lot of carriers.

They'll do the insurance "shop and compare gig" for you. Imagine being able to just choose the best deal your agent finds without having to try and compare coverage yourself. Really, how many people understand the intricacies of insurance to begin with, never mind homeowner's insurance.

You also want to pick a carrier who has an A rating, has state-approved rates and is covered by the Florida Guarantee Fun. The A rating just means they're financially stable, but that's a good thing for you, the consumer.

Here's something else you need to look into. Every year when it comes time to renew your policy, find out if the agent re-quotes. This is a good thing for you, as it will make sure you have the best rates for the best coverage.

Hint: any Florida homes built before 2002 should be surveyed for wind mitigation factors. This one survey alone could save you hundreds of dollars. In fact, maybe even enough to pay for the survey.

Reducing the costs of your homeowner's insurance premiums isn't hard to do if you know a few hints. Talk to your local agent and find out what other tips would reduce your insurance expenses.

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Cory Waldron is with Accurate Insurance Mart, a leader in providing personal auto insurance, homeowners insurance, and other insurance lines in Zephyrhills, Wesley Chapel, New Tampa, and Tampa Florida. To learn more and get a quote, visit www.insurancebyaim.com.