COVERAGE / HOMEOWNERS
Home insurance in Florida, explained
Hurricanes, other natural disasters and the cost of litigation make this a hard market. These are the levers that still work.
SHOP AROUND
Compare at matching limits and deductibles or the comparison means nothing.
BUNDLE
Home with auto discounts both.
DEDUCTIBLE
Raising it lowers the premium. Keep the cash to cover it.
SECURITY
Alarm systems, smoke detectors, deadbolts.
CREDIT
Your score affects the premium in Florida.
UPDATES
Roof, electrical and plumbing upgrades reduce risk and price.
WIND MITIGATION
Shutters, reinforced roof, impact windows. This is the biggest single discount available in Florida.
CLAIMS HISTORY
Frequent small claims cost more than they return.
ANNUAL REVIEW
Coverage should track the house, not last year's house.
Reinsurance, which is insurance for insurance companies, is priced globally, so a flood in Australia or an earthquake in Eastern Europe reaches your premium. Hurricane Ian caused $112 billion in losses, the third largest in US history. Fewer carriers are willing to write here. Florida accounts for 79% of all litigation against home insurers in the country. And reconstruction costs are up on materials, supply chain and labor.
Assuming it was not excessive claims, it is almost always risk management rather than anything about you. Carriers set reinsurance against their maximum probable loss in an area, so they manage exposure down to the county, the zip code, and the individual risk to spread it across the state. It keeps one storm in one place from taking out their whole book. It is not personal.
No. Flood is a separate policy. Homeowners does not pay for flood-related losses.
Talk it through with Bridget.
561 220 5974