 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |  |  |  |  |  |
How To Lower Your Payment For Hazard & Flood Insurance
As you may have imagined, you are going to need hazard and flood insurance for your new home.
This premium will be a part of your monthly payment. The premium will depend on a number of
factors, and within them, will be the company you choose, and the discounts you get.
As one of my clients, I want to make you aware that the difference between one company and
another, could be almost 100% + percent, for the same property.
While Citizens is the most popular insurance company in South Florida, their premium is normally
about 1.5% of the sales price. However, I have access to two companies that will provide the same
coverage for about half of the premium.
You will save hundreds of dollars a year on homeowners insurance by shopping around, and
considering some of these tips.
- Number one and foremost, SHOP! The difference between the lowest rate and Citizen's
normal rate is 100% more! While you could get insurance for around 0.75% of the purchase
price, I have had clients that end up paying twice that amount when they do not follow my
recommendations.
- Consider a higher deductible. Increasing your deductible by just a few hundred dollars can
make a big difference in your premium. 2% deductible vs 5% .
- .Ask your insurance agent about discounts. You may be able get a lower premium if your
home has safety features such as dead-bolt locks, smoke detectors, an alarm system, storm
shutters or fire retardant roofing material. Persons over 55 years of age or long-term
customers may also be offered discounts.
- Get a wind mitigation inspection. This inspection will probably save you 25% of your
regular premium. Normally the inspection costs $150.00 - $250.00, but if you read my
inspections page, you will included in your inspection
- You do not have to insure the contents (unless you want).
Please note that Flood insurance is not covered by a standard homowner's policy, and it normally
cost about $360.00 per year. About 95% of Broward County is located on a flood zone, so be
ready. And you will also need to have Windstorm Insurance if you buy east of I-95.
 |  |  |  |  |  |
 |  |  |  |  |
 |  |  |  |
 |  |  |  |  |  |
 |  |  |  |  |  |
 |  |  |  |  |  |
 |  |  |  |  |  |
 |  |  |  |
