Tag: Orlando homeowners insurance

7 Simple Home Improvement Projects to Lower Homeowners Insurance

Posted on by Jenny Zamora

Do your current homeowners insurance rates put a strain on your monthly finances? The insurance companies’ logic is simple: the safer your home, the less likely you will need to make a claim. It’s essentially a big guessing game on the part of the insurance company. Making a few modest updates could make a substantial impact. These changes will enhance curb appeal, lowering your rates at the same time. You’ll probably improve the value of the home, too. Here are 7 projects that will get the ball rolling.

7. Install a Fence Around the Pool

La Peyrecout - Swimming Pool with View

Having a protective fence surrounding the pool can help keep your family safe. A four-sided isolation fence separating the pool from the yard and the house will further protect your loved ones. According to the CDC, “A four-sided isolation fence…reduces a child’s risk of drowning 83% compared to three-sided property-line fencing.”

Installing this fence will reduce the risk of liability regarding the pool, making the home easier to cover in the eyes of the insurance company.

6. Upgrade Your Garage Door

Garage Doors

Is your garage door a little flimsy? Even if it looks like it can stand up to a storm, it’s important to make sure can stand up against other factors like determined thieves and vandals. Improving your home’s safety by installing a sturdy garage door can be a factor in determining your homeowner’s insurance premiums.

4. Get Your Wiring up to Code

If you have an old house, it wouldn’t be surprising if your wiring isn’t up to code. Consult your insurance rate report for clarification on this if you’re unsure. Homes that don’t meet the code requirements are at a higher risk for fire and electrical malfunctions, which makes insurance companies squirmish. However, if you take the time to get the wiring up to code, it could very well make a significant impact on your insurance rates. Check with your company first to see if it has any specific guidelines to follow, and then make sure to let your agent know once you’ve updated the wiring.

3. Install Security and Safety Devices

Most insurance companies offer lower rates for homes that are equipped with basic safety measures like deadbolt locks, up-to-date smoke detectors, carbon monoxide detectors and security alarms. The safer the house is for you to live in, the safer it to insure. Each of these devices lowers the risk of having to make a claim, which in turn should shrink premiums. It’s a good idea to check with your insurance provider to see if they have any discounts on specific safety measures you can

2. Plant Fire-Resistant Shrubs

If you live in a dry, hot climate, the risk of fire damage is much higher. In the eyes of home insurance companies, this makes your home a major liability. Reduce their concern by planting shrubs around the home that are not prone to catching ablaze.

Though fires can happen anywhere, this is most relevant in areas where wildfires are common. Ensuring that there aren’t plants near the home can help with your insurance costs in some areas of the country.

1. Install Storm Shutters

Regardless of whether you live in an area that gets a lot of storms, storm shutters may help you catch a lower rate as well. This is because these shutters will help keep the glass from breaking and the insurance company from having to pay out in the event of a natural disaster. This is a very simple and very effective way to lower your rates.

Homeowner’s insurance rates can go up or down, depending on how you maintain your home. Make these simple modifications and your insurance company – and your wallet – will thank you.

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7 Tips for Getting the Best Price on Quality Homeowners Insurance

Posted on by Jenny Zamora

Homeowner’s insurance is something we hope we’ll never have to make use of, but no one knows when disaster may strike. Buying a home in Orlando, or anywhere for that matter, is a major investment. So, it only makes sense to protect it and, if your home is mortgaged, your lender will require that it is insured.

Here are seven tips to consider when buying house insurance.

  1. Know the value of your home. It is very important to know your home’s replacement cost as a basic homeowner’s policy may not be enough to replace your entire home. Make sure.
  2. Choose an insurance company with a good reputation. Research a company’s claims service, as well as its financial stability. A low premium is no bargain if it takes an insurer forever to process your claim. On the other hand, the mortgage company through which you obtained your mortgage may offer you their own type of insurance policy. Often, this type of policy will cost three times a much, so it’s far better to look elsewhere for coverage.
  3. As with most other purchases, you should comparison shop to make sure you’re getting the best possible price. Be aware that the same or a similar product may be priced differently by different companies. It always pays to shop around. By comparing prices at several different insurers, you can be sure you’re getting the best possible coverage at the best possible price.
  4. Consider extra coverage. Depending on where you live, it may be advisable to add coverage for natural disasters such as lightning strikes, wind, hail or snowstorms. It is also worthwhile to have protection against smoke damage, theft, vandalism, explosions and plumbing disasters. This will undoubtedly add to your premiums but, depending on your circumstances, may be worth budgeting for.
  5. Make sure you fully understand the protection you’re getting. Read your policy carefully and speak to your insurance agent about any questions or concerns you may have.
  6. Ask for discounts. Many companies offer reduced rates for behaviors that diminish risk. An example would be if your household is non-smoking.
  7. Keep your policy updated and always reread it before you file a claim to avoid any surprises. Your idea of fair compensation may not be the same as that of your insurer. You need to be able to prove your losses so that you can get what you need to replace them.
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Homeowners Insurance Tips for Orlando home buyers

Posted on by Jenny Zamora

Getting the best HOI rates for Orlando real estate

When shopping for homeowners insurance [HOI] quotes, you should seek out companies that have been in business for a while that have high customer satisfaction ratings and good reviews. Many potential buyers make the mistake of just going with the cheapest company they can find.

As an Orlando realtor, I always recommend to my clients to use a company like  Net Quote. This is a company that will provide you with quotes from several different highly rated homeowners insurance companies. Using a company like this to research homeowners insurance can save you a lot of time and money.

Many insurance companies raise their rates when they suffer a financial crisis like the one we’re still recovering from. However, insurance companies still have to compete with other insurance companies for your business which means that most of them are cutting much better deals for new policyholders than for existing policyholders.

Typically after people purchase their HOI and close their house, people tend to forget about homeowners insurance and will just continue to pay whatever premium the insurance company asks for even if it goes up every year. What homeowners should do is research different insurance companies every time they are up for renewal to make sure they are getting the best rate available.

6 Tips for keeping your HOI rates down on Orlando properties

1- Continue shopping for better rates- Every time your policy renewal date approaches, check companies like NetQuote.com to see if they can find you a better deal.

2- Try Bundling– Consider bundling your Homeowners policy and your auto policy with the same insurance company. By doing this you may be able to cut your premiums by up to 15%.

3-Make sure you don’t have too much coverage- It’s very common for policies to have inflation protection provisions that will automatically increase your coverage amount. Now that construction costs have fallen, these increases are not always justified. Find out what your house is actually worth make adjustments to your policy if can. If you’re able to lower your replacement value, it could save you up to 10% on your premiums.

4-Make sure your reputation is as clean as possible-If you’ve been denied coverage or they want to charge you an arm and a leg because of claims you’ve made in the past, check your insurance report for mistakes at choicetrust.com; it’s free if you’ve been denied coverage. Insurance companies make mistakes all of the time especially when it comes to record searches on clients.

5-Stick with high deductibles– I always recommend getting a policy with a high deductible for 2 reasons. 1st, your premium will be much less and 2nd, If you file a claim for every little repair that comes along, it can drive your premiums up by up to 15%. Use the money that you’re saving on those premiums to cover the small repairs.

6- Avoid Flood Zones– Before you buy your home, you should be aware if it’s in a flood zone. If you live in a house that’s in a flood zone, then you will probably want to make sure that your policy covers flood damage. You could save money and not get flood coverage but then you run a big risk if your house ever gets flooded. My advice, avoid flood zones.

If you’re in the market for an Orlando property and you still have a million questions about homeowners insurance or anything else regarding the purchase of a house. Contact us for a free consultation with an Orlando real estate expert.

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