MONDAY, APRIL 4, 2016
Good new for Homeowners!
If you live in Florida and you have not had your property insurance quoted in some time you could be missing out on saving hundreds if not thousands of dollars. For so long in Florida people were just happy to find an insurance company that would cover there home or condo; but times have changed! There are more homeowners companies in Florida today then there have been in the last ten years. This has caused home rates in Florida to drop drastically. However, if you are not quoting the market place then you are missing out on the savings. Unfortunately we do not see very many homeowner companies lowering their premiums for their currently clients, therefore if you want a lower premiums then you need to call your agent or another agent to shop the market place.
There can be a down side however, and that is with so many homeowners insurance companies now in the market place how do you know if they are a strong stable company? This is a problem, there are so many new startup home insurance companies now in Florida I don't think anyone can tell us how they are going to handle their first big claim event. This is where you have to have trust your agent that they not only give you the best price but more importantly give you the best advice when it comes to protecting your home! You agent can give you some good advice when it comes to the quality of a company but at the end of the day you too should look into the company your agent is offering because after all it is your home!
The good news for Condo Associations as well!
No one knows a limited market for property insurance as well as some one who sits on their condo board. For years now condo boards have been very limited even the best risks were limited to about 3 companies Citizens, American Costal, and Universal North American. Today there are more options then ever before with strong stable companies like United Property and Causality and Heritage now writing condos as well as others like Everest and Cypress. It seems like more and more every day some one else is jumping into the condo market. However if your agent does not have a contract you will not be receiving a quote that could save your association thousands. Unlike the home market however the Condo writing for the most part are offering a reduced premium at renewal. The condo market has become so competitive that most associations will see some of the best rates they have seen in years. But just like your home if your are not having your agent shop or have another agent shop you could still be leaving thousands on the table even it your currently company comes in with a reduced rate!
Good luck and good shopping!