Florida Home Owners Insurance...Step By Step Savings Guide
If you are ready to invest in Cape Coral property, you definitely need the inside scoop as far as homeowners insurance goes. A Google search online brings up numerous websites, many of them completely useless as far as detailing exactly how to save on Florida home insurance.
Being in the real estate business, we've walked countless home buyers through the homeowners insurance process, so we've decided to let you in on this information by offering home insurance savings information, especially for Cape Coral properties and the Greater Fort Myers area.
How to Save on Florida
Although no one really likes to think about hurricanes, that is exactly what insurance companies have on their mind when writing a policy for a Florida homeowner. Because of the potential risk of hurricane damage, this is the first thing a Cape Coral property owner should consider as well.
The more 'hurricane safe' your new Cape Coral property is, the better your insurance rates will be. Here are some things to look for when viewing potential investment property:
Windstorm & Hurricane Related Discounts
- Roof Discounts - The age and materials your roof is constructed from can either qualify you for an insurance discount, or leave you paying higher premiums. Your home inspection, conducted before purchase, will provide you with the necessary information to check on discount eligibility. Sometimes a roof can appear to be in excellent condition, but, for example, it may be an asphalt shingle roof that was built according to earlier standards and no longer qualifies.
The shape, or pitch of your roof can also qualify you for home insurance discounts. A hip roof, which is sloped on all sides like a pyramid currently qualifies for a discount.
- Hurricane Protection - Hurricane shutters for windows and exterior doors, impact resistant garage doors, and impact and wind resistant windows qualify for insurance discounts. A wind mitigation inspection will identify these and any other construction features that can reduce potential loss from hurricane or high winds.
- The Biggest Savings for Hurricane Protection - Be sure to ask questions when shopping for home insurance for your Cape Coral property. Insurance companies are required by law to let you know what you can do to qualify for the largest discounts for your particular residents. Often, small things that can be easily taken care of will offer huge savings. For instance, if your Cape Coral home has hurricane shutters for all windows but does not have an impact resistant garage door, you could be missing the entire discount. By asking the right questions you will be aware of simple changes you can make that will result in the largest savings.
Other Home Insurance Discounts
- Burglar Alarms / Dead Bolt Locks - Theft protection qualifies for an insurance discount.
- Fire Alarms / Smoke
Detectors / Sprinkler Systems- These
offer small discounts, but of course, every little bit helps. You'll also want
to own at least one working fire extinguisher and have it in an approved area
of your home.
- Personal Factors - If
you are a non-smoker or if you have good credit, you may be eligible for lower
Here are a few things that can raise your insurance premiums or
cause you to be dropped altogether.
- Large, low hanging tree limbs within a foot of your home
- A trampoline
- An elevated playground
- A pool slide
- A pool or spa without proper fencing
- Aggressive breeds of canines
By following the guidelines above, you can save up to 40% on your Cape Coral home owner's insurance. Remember, as of a regulation that went into effect in October of 2005, property insurance companies must make policyholders and potential policyholders aware of discounts available.
If you are currently looking to invest in Cape Coral property and have questions, please give our offices a call. We will be glad to assist you every step of the way.
By David Sporleder | Sporleder-Ray Realty Group | firstname.lastname@example.org| Google+