New state Web site compares home insurance rates (credit, budget)

[sunrico90]

Another way to validate your cost> Gov. Charlie Crist, seeking to reassure Floridians who haven't seen significant reductions in their home insurance rates this year, announced a new state Web site Tuesday to help consumers shop for better coverage options.

Crist said the Web site --- Compare Homeowner's Insurance Rates --- allows consumers to comparison shop for home insurance rates.

Crist said insurance rates statewide have special session was called to deal with Florida's home-insurance woes. Is this true?

[sunrico90]

I just compared the cost per county (Santa Rosa and Flagler) and Flagler is way cheaper....

Santa Rosa County
# Company Name Rate
1 Security First Insurance Company $1,095
2 Southern Fidelity Insurance Company $1,114
3 Royal Palm Insurance Company $1,360
4 Allstate Floridian Insurance Company $1,452
5 ASI Assurance Corp. $1,537
6 American Strategic Insurance Corp. $1,537
7 Tower Hill Select Insurance Company $1,610
8 United Property & Casualty Insurance Company, Inc. $1,668
9 St. Johns Insurance Company, Inc. $1,708
10 American Traditions Insurance Company $1,724
11 Florida Farm Bureau Casualty Insurance Company $1,795
12 Tower Hill Prime Insurance Company $1,818
13 Tower Hill Preferred Insurance Company $1,871
14 Liberty Mutual Fire Insurance Company $1,911
15 Universal Insurance Company of North America $2,042
16 Homewise Preferred Insurance Company $2,100
17 Universal Property & Casualty Insurance Company $2,317
18 Citizens Property Insurance Corporation $2,537
19 Southern Oak Insurance Company $2,545
20 First Floridian Auto and Home Insurance Company $3,419
21 State Farm Florida Insurance Company $5,387

Flagler County
# Company Name Rate
1 Tower Hill Prime Insurance Company $722
2 Security First Insurance Company $760
3 Southern Fidelity Insurance Company $834
4 Royal Palm Insurance Company $886
5 Tower Hill Preferred Insurance Company $916
6 Homewise Preferred Insurance Company $978
7 Universal Insurance Company of North America $993
8 American Traditions Insurance Company $996
9 ASI Assurance Corp. $999
10 American Strategic Insurance Corp. $999
11 United Property & Casualty Insurance Company, Inc. $1,096
12 Tower Hill Select Insurance Company $1,110
13 Citizens Property Insurance Corporation $1,142
14 First Floridian Auto and Home Insurance Company $1,165
15 Liberty Mutual Fire Insurance Company $1,213
16 Southern Oak Insurance Company $1,235
17 St. Johns Insurance Company, Inc. $1,275
18 Florida Farm Bureau Casualty Insurance Company $1,512
19 Universal Property & Casualty Insurance Company $1,561
20 State Farm Florida Insurance Company $1,569
21 Allstate Floridian Insurance Company $1,586

[DanBev]

Originally Posted by sunrico90

Another way to validate your cost> Gov. Charlie Crist, seeking to reassure Floridians who haven't seen significant reductions in their home insurance rates this year, announced a new state Web site Tuesday to help consumers shop for better coverage options.

Crist said the Web site --- Compare Homeowner's Insurance Rates --- allows consumers to comparison shop for home insurance rates.

Crist said insurance rates statewide have special session was called to deal with Florida's home-insurance woes. Is this true?

I am in Suwannee county,many listed only Citizen at $1500 WHY?We have not had hurricane in a hundred years!!Ct where I lived many,makes no sense why we are penalized.I have no ins. dropped when co. went bankrupt.

[Donna-50]

I guess he doesn't know that you can compare all you want, but if they aren't writing policies does it really matter. At least where I am you have to find one the is writing and have to pay what ever it is.

[MrTudo]

I didn't see Federated National listed . They did the right thing for us after Hurricane Charley struck and just showed us a "reduction" in premiums which amazed me.

[sunrico90]

Originally Posted by DanBev

I am in Suwannee county,many listed only Citizen at $1500 WHY?We have not had hurricane in a hundred years!!Ct where I lived many,makes no sense why we are penalized.I have no ins. dropped when co. went bankrupt.

The average rates listed on this page are for the following structure:

A 5-year old, Florida concrete block home, with a current replacement value of $150,000, a $500 non-hurricane
deductible, a 2% hurricane deductible, no claims, and no wind mitigation discounts.

NOTE: THIS IS BEING PROVIDED FOR COMPARISON PURPOSES ONLY TO DEMONSTRATE THE IMPORTANCE OF SHOPPING FOR INSURANCE QUOTES. Insurance companies listed below may not be writing new business in all counties. Citizens Property Insurance Corporation is writing in all counties.
Your county has many companies with better rates than other counties.

Suwannee County
# Company Name Rate
1 Southern Fidelity Insurance Company $623
2 Florida Farm Bureau Casualty Insurance Company $797
3 Allstate Floridian Insurance Company $836
4 American Traditions Insurance Company $851
5 First Floridian Auto and Home Insurance Company $873
6 Security First Insurance Company $880
7 Royal Palm Insurance Company $885
8 Tower Hill Prime Insurance Company $885
9 Tower Hill Select Insurance Company $920
10 ASI Assurance Corp. $967
11 American Strategic Insurance Corp. $967
12 Liberty Mutual Fire Insurance Company $990
13 Tower Hill Preferred Insurance Company $1,015
14 Homewise Preferred Insurance Company $1,041
15 Universal Insurance Company of North America $1,085
16 St. Johns Insurance Company, Inc. $1,086
17 Universal Property & Casualty Insurance Company $1,134
18 United Property & Casualty Insurance Company, Inc. $1,329
19 Citizens Property Insurance Corporation $1,469
20 State Farm Florida Insurance Company $1,511
21 Southern Oak Insurance Company $1,842Suwannee County
# Company Name Rate
1 Southern Fidelity Insurance Company $623
2 Florida Farm Bureau Casualty Insurance Company $797
3 Allstate Floridian Insurance Company $836
4 American Traditions Insurance Company $851
5 First Floridian Auto and Home Insurance Company $873
6 Security First Insurance Company $880
7 Royal Palm Insurance Company $885
8 Tower Hill Prime Insurance Company $885
9 Tower Hill Select Insurance Company $920
10 ASI Assurance Corp. $967
11 American Strategic Insurance Corp. $967
12 Liberty Mutual Fire Insurance Company $990
13 Tower Hill Preferred Insurance Company $1,015
14 Homewise Preferred Insurance Company $1,041
15 Universal Insurance Company of North America $1,085
16 St. Johns Insurance Company, Inc. $1,086
17 Universal Property & Casualty Insurance Company $1,134
18 United Property & Casualty Insurance Company, Inc. $1,329
19 Citizens Property Insurance Corporation $1,469
20 State Farm Florida Insurance Company $1,511
21 Southern Oak Insurance Company $1,842

[roseward]

Thank you so much for posting the link, Sunrico90!

I bet if these companies were banned from selling auto & other types of insurance unless they made their homeowners' insurance rates more reasonable, they would do so. What do you guys think?

[sunrico90]

Originally Posted by roseward

Thank you so much for posting the link, Sunrico90!

I bet if these companies were banned from selling auto & other types of insurance unless they made their homeowners' insurance rates more reasonable, they would do so. What do you guys think?

I do believe that more competition and good weather will be the key to lower rates.

[sunrico90]

This might help:

Get the Coverage You Need Without Paying More Than You Should
Have you noticed that the cost of your homeowner's insurance coverage has increased significantly over the last several years? Policies that cost $325 just a couple of years ago are often two to three times that amount now, putting the squeeze on many homeowners' budgets. Here are ten ways to minimize the cost of your homeowner's insurance.

# Raise Your Homeowner's Insurance Deductible

Your deductible is the amount of risk you agree to accept before the insurance company starts paying on a claim. With the cost of homeowner's insurance escalating, it no longer makes sense to let the insurance company assume all the risk. If you have a low deductible of $50 to $100, consider raising it to at least $500 to $1,000. You could save up to 25% on your premiums.

Some companies are offering deductibles equal to 1% of the insured value of your home ($1,000 deductible on a $100,000 home).

# Combine Your Homeowner's Insurance and Auto Insurance Policies

Consider buying your homeowner's and auto insurance policies from a company that offers both. Some companies offer discounts of 5 to 15% if you buy both types of coverage from them. Check around and make sure the price is lower than buying the two policies from two different companies before making this move.

# Ask About Other Homeowner's Insurance Discounts

Make sure you're receiving all the discounts for which you're eligible. For example, discounts exist for smoke detectors, deadbolt locks, security or fire alarm systems, fire extinguishers in the home, etc. If you're over 55 and retired, you may qualify for an additional 10% discount.

# Don't Buy Homeowners's Insurance Coverage You Don't Need

It makes no sense to buy insurance to protect yourself against risks you are unlikely to encounter; for example, earthquake coverage in a non-earthquake zone, or a jewelry floater to your policy if you don't own expensive jewelry.

# Make Your Home a Better Insurance Risk

Ask your insurance agent what you can do to make your home less expensive to insure. Making changes that reduce the risk of damage in windstorms and other natural disasters is one example. Another is updating old wiring or heating systems, which may reduce your risk of fires and therefore reduce your premiums.

# Know What Your Homeowner's Insurance Policy Covers

Your home is your biggest investment. Make sure it's adequately protected from risks you cannot afford to cover yourself and that it covers any home improvements you've made, major purchases, and increased costs of rebuilding.

# Keep Your Insurance Coverages Up To Date

Once a year, before your homeowner's insurance policy is due to renew, dig out the current policy, read through all the details, and call your insurance agent to discuss any changes in your situation that occurred during the year.

# Avoid Risks That Insurers Shun

Insurers are shying away from some risks. For instance, owning certain types of dogs (Rottweilers, Doberman Pinschers, Pit Bulls), can limit or void your policy. Owning a swimming pool or a trampoline can increase your cost of coverage. Read all the fine print in your policy under the "Conditions and Coverages" sections so you know all the things that are excluded from coverage. You may opt to buy additional coverage to protect yourself from certain exposures.

# Improve Your Credit Score

Insurance companies are increasingly using credit information to price insurance policies. Don't have too many open credit accounts, don't charge close to the limits on your credit cards, and pay all your bills on time to keep your credit score healthy.

# Shop Around for Homeowner's Insurance

Shop around for homeowner's insurance rates but keep in mind that you may be receiving a longevity discount if you've been with your current insurer for several years. Typical discounts are 5% if you've been with the company for three to five years, and 10% for six years or more. Get quotes from three agents, and take any longevity discounts with your current insurer into consideration when you compare prices. Your state insurance department may have rate comparison information available for your state. See FCIC - The Handbook - State Insurance Regulators.

[blueoktober]

One thing's for sure - State Farm is the highest in almost every single county.