What goes into a Florida Homeowners Insurance Quote?
We all know that buying a home is a serious, life changing investment. So much so that we spend months to years securing the perfect property. Once you’ve made a house your home, it continues to be something that merits an investment of your time and finances. We are always looking to help our community by quoting you the best rates for all insurance products, but here is what you need to know about what goes into your Florida homeowners insurance quotes. We shop every available market with every quote request so we’ve got some ample experience to share! 🤓
When we shop for you, we try to always collect as much information as possible to help you save money! Important information includes:
The size & special features of your property
A big house doesn’t necessarily correlate to big premium. It’s true, where there is more space, there’s a higher cost of replacement more appliances, cabinetry, material, skilled artisan installation and general labor but, again, higher values isn’t always a bad thing. Larger homes usually have the investment of extra repairs and upkeep which translates in up-to-date inspections which validate these updates and can be rewarded with lower premiums. Specialty insurance markets specializing in high value properties can package needed protections at beneficial price points that make their products dramatically more attractive than conventional products that are not tailored to adjust to higher replacement costs or consider the exposures they entail.
The home’s age:
This is important, especially in Florida. Houses built post-hurricane Andrew use a stronger building code. This means that your house can withstand higher impacts from wind, rain, and other natural disasters! The building code gets updates every few years as well, which is a great thing. Each update to the builder’s code guarantees the homeowner an even stronger house. It is advantageous for homes constructed before 2002 to invest in a Wind Mitigation Inspection. Depending on the specifics of this inspection, you can be rewarded with hundreds to thousands of dollars in discount on your annual premium for up to five years! We also recommend a Four Point Inspection for homes constructed prior to 1980 (some companies 1990)! This inspection validates major updates to the home and can be an eligibility factor for some companies. More companies = more competitive rates!
Building materials used:
Whether your home is made of wood, steel-beams, brick, concrete or stone, it is a starting point in preparing your quote. Each material is carefully considered when researching, shopping and comparing your Florida home insurance policy. Quotes tend to vary when it comes to the construction materials used. This is especially important for roofing materials as well. Asphalt shingles in Florida do not hold up as well as areas farther north, architectural grade are heavier and a shade better, and tile and metal roofs tend to have a longer lifespan.
Updates and rebuilding:
If there are some updates, remodels or general quality of life improvements, insuring everything properly will add up. If you are doing renovations or rebuilding parts of the home (if it is a fixer-upper), then your rates can vary depending on what the construction project is happening! It is crucial that you communicate to your Agent the year of updates for: roof, HVAC, water heater, wiring, and plumbing. For wiring and plumbing, it doesn’t have to be a complete overhaul or new system, any updates and upgrades are helpful!
The neighborhood your house is in and its surroundings:
Location is a very important factor in this equation. If the area is up-and-coming or newly constructed, insurance rates may be lower. Similar to the importance of school districts, the fire district plays an important role in your insurance rate. The fire department, their access time and distance, access to fire hydrants, and rating of the fire department are all important considerations. Also the number of routes into a neighborhood is important, the fewer the better. If the neighborhood is gated and/or guarded it is beneficial as well. If the area is older with an ever-changing community, or if the neighborhood borders one with higher crime rates, the quote can also increase due to high activity. Whether your house is in a town, city, village, or metro area is important as well. All of which have different distinctions such as population size, transit systems which determine if your area is considered a city, town, bedroom community, or palatial estate!
Personal information is also considered in your quotes. Important factors include:
Your Insurance Score (NOT your credit score):
Depending on your credit & claims history, this major metric can determine if you will be paying more or less for homeowners insurance. This metric uses relevant statistics, demographics and algorithms and is used throughout insurance departments in States all across the country. It is relied upon in Florida for most all personal lines and even some commercial. It’s interesting to note that in California, Massachusetts, and Maryland insurance companies do not take this into account.
Your belongings:
Valuables of all kinds, such as music instruments, electronics, jewelry & more may require extra coverage. Always keep a detailed inventory around along with receipts and appraisals if asked about personal property values. We recommend keeping a video recording of all rooms (including closets & drawers) as an informal inventory. If you haven’t documented your personal property check out our free download.
If you have unique valuables or special collections of high value, a special policy is usually required to provide you with comprehensive, worldwide coverage.
Pets:
We love our furry friends, but sometimes insurance companies will consider different breeds of dog more aggressive than others. Animal liability surrounds everything involving the ownership of a pet and such protection is excluded or limited under a typical Florida Home Owners Insurance Policy. Most say that their pet would never bite, but animal liability is not just for bites! We’ve seen claims when a pet ran out and caused an auto accident. Others, the pet got too excited and jumped up which caused an elderly family member to fall down. But don’t fret, there is always a company out there that will work with you. We work with over 150 diverse companies which will help provide you the best rate!
Type of work:
If you work from home, you may need to add additional coverage! Home businesses need their own policies as well.
We know this is a lot of information but we are ready to put in the work on your behalf. We strive to make the process fast, easy, and low pressure. Where there is a will, there is a way. Harris insurance shops for you with the goal in mind to get your best quote. We have been serving our community since 1965 and do not plan on slowing down anytime soon!
If you would like to talk to us about homeowners insurance or request your quote, do not hesitate to call us at 850.244.2111 or email us service@harrisinsurance.com for additional information!
You Call, We Quote, You Save!
LEGAL DISCLAIMER
Views expressed here do not constitute legal advice. The information contained herein is for general guidance of matter only and not for the purpose of providing legal advice. Discussion of insurance policy language is descriptive only. Every policy has different policy language. Coverage afforded under any insurance policy issued is subject to individual policy terms and conditions. Please refer to your policy for the actual language.
