Are you looking for ways to reduce your homeowner’s insurance policy premium? You aren’t alone. With the cost of homeowner’s insurance consistently rising each year, especially in Florida, more homeowners are looking for ways to cut costs. Before you reduce coverage on your policy or eliminate specific coverage completely, consider these ways to reduce your home insurance premium.
1. Policy Review
Contact your agent and ask for a homeowner’s policy review to specifically ask what discounts you may be eligible for if you make some changes to your policy or to your home.
2. Storm-Safe Windows
Wind and hail in Florida are one of the top claims for loss each year. In hurricane-prone Florida, one of the main upgrades to prevent wind damage is to install storm-safe windows: impact-resistant glass and roll-down shutters. Depending on your insurer, you could receive a substantial credit on your policy. Not only will it save you money on your premiums, but it could also prevent damage from the tropical storms and hurricanes.
3. Water Shutoff Devices
Devices that cut off a home’s water supply when they detect damage to pipes, water lines and plumbing can prevent significant damage and save $$$ on your homeowner’s premiums. Water leak sensors are another category of protection which detects moisture in places where it shouldn’t be, such as behind a washing machine or toilet, and don’t actively cut water flow.
4. Upgrade or Replace Your Roof
A new roof is a significant — and expensive — undertaking. On the flip side, a bad roof can cost you a lot. If your roof leaks, you’re likely to face rotting wood and interior water damage. If it’s weak, hail and high-impact storms can breakthrough.
Insurer coverages offer a variety of discounts for roof upgrades. An impact-resistant roof discount for roofs that protect against lightning and hail. A roof age discount, which applies to homes with newer roofs.
5. Bundle your Policies
Shop around and get pricing to bundle your home, flood and possibly auto insurance policies together. Many Florida home insurance carriers will give you a discount by simply bundling your home and flood insurance together. The best way to find out if your carrier does is to call your licensed insurance agent.
6. Security System
If you home has a security system, you may be eligible for a discount. If it is monitored at a police station or central station, your discount maybe even more?
7. Gated Community
If you live in a gated community, your policy may state that you can get a discount. If it is a man-gated community, the discount may be higher with some carriers.
8. Accredited Builder
Accredited builder discounts may be available to you depending on how recent your home was built. Ask your agent to see if your builder is an accredited builder with your insurance carrier.
9. Sprinkler Systems
If you live in a condo that has a built-in sprinkler system, you may be eligible for discounts. Ask your insurance agent to check your policy to see if you have HO-6 condo coverage.
10. Wind Mitigation Report
A wind mitigation inspection may qualify a property for significant discounts on the hurricane/windstorm portion of your insurance premium. These discounts can be substantial.
According to Florida Statute 627.0629, ALL insurance companies are required to offer Florida homeowners “discounts, credits, or other rate differentials” for particular construction techniques that help reduce wind damage caused by hurricanes, tropical storms, and other windstorm-related claims.
Contact a roofing specialist. Check out your roof condition now to make sure you don’t have any possible problems like loose or missing shingles, etc.
No. 1 Home Roofing is proud to deliver quality service to its clientele in local communities, and therefore has years of experience in re-roofing and patching flat roofing systems.
No. 1 Home Roofing is a family-owned and operated roofing company conveniently located on U.S. Highway 19 in Palm Harbor, Florida. We are dedicated to providing top quality workmanship and materials to ensure that your new roof is done right. We specialize in shingle, tile, and flat roof installation, repairs, and maintenance. Contact us for an appointment and/or estimate at 727-781-7663.