Homeowners insurance in Florida is a major expense and depending on several factors, your insurance premium may be higher. There are ways you can potentially bring down rates, but many factors are circumstances beyond your control.
Let’s take the age and construction of your home, for instance. Depending on the type of construction and when your home was built, your home may be deemed more expensive to insure. Newer homes must abide by Florida’s latest building codes, which means they may use materials that are equipped to better withstand the impact of a hurricane. Hence, there are considered less of a risk when it comes to experiencing heavy damage.
Two additional factors to take into consideration: location and size. If you own a coastal home, for example, you can expect to shell out more for your insurance premium as the home will be considered a higher risk due to natural disasters. Buying a home with lots of square footage is nice but since it will cost more to rebuild in the event it sustains significant damage, you can also expect to pay a higher premium.
The age of the roof, any claims that have been previously made on the home, crime, electrical hazards, crime, all of these may play a role in affecting your insurance premium. Make sure you factor in these costs when searching for a home.
This information is provided by Miami insurance lawyer Alonso & Perez, LLP. Our areas of practice include insurance litigation, foreclosure defense, immigration law, and more. Call 305-676-7545 to speak with one of our attorneys and receive a free consultation We look forward to working with you. Para mas información sobre reclamo de seguro, por favor llamenos.
This information is provided for educational or informational purposes only and should not be construed as legal advice. The information is not provided in the course of an attorney-client relationship and is not intended to substitute for legal advice.