Homeowners Insurance Orlando
What matters when considering homeowners insurance Orlando
Homeowners insurance Orlando is a necessary part of the details of purchasing Orlando Real Estate, yet many buyers do not realize how the home they pick impacts the homeowners insurance Orlando. Other factors are important also.
Home buyers either think homeowners insurance Orlando is unaffordable and hard to get, while others think its its easy to obtain.
Both can be true, but homeowners insurance Orlando is based on condition of property, the age, and where its located.
Central Florida insurance is affordable
The fantastic news is that Central Florida has some of the most affordable homeowners insurance in the State of Florida. It is because the location is in the middle of the State of Florida, with less chances of direct hurricanes or extreme winds. Homeowners insurance Orlando is sometimes a welcome surprise.
As you live closer to the coast of Florida or south in the Florida Keys, homeowners insurance will be the highest. It is true that homeowners insurance Orlando, as well as Orlando homes are considered affordable.
Tips for getting Insurance quotes
Now that you are under contract for your perfect home, you will need to obtain insurance quotes in order to have homeowners insurance in place by closing date. Here are some tips to consider when searching for quotes for homeowners insurance Orlando.
To begin, you can see if your auto insurance carrier writes homeowners insurance in Orlando. You can also get recommendations on insurance agents from your buyers agent, mortgage broker, bank or friends and family. You will want to get about 2 quotes from reputable insurance carriers with “A” ratings. Companies with lower ratings may not cover you as well.
When getting homeowners insurance Orlando, remember that all insurance carriers offer various options for depth of coverage and pricing. You can adjust deductibles, add or eliminate certain coverage so the quotes best fit your needs. Just ask your insurance agent for variables. One carrier may offer a higher water back up policy limit vs. another carrier, so read your policy choices carefully to compare.
Make sure all your Discounts are applied
The discounts offered by homeowners insurance Orlando can vary. Sometimes the insurance agent will not ask enough questions to make sure all the credits due are applied to your quote.
Here is a list of discounts or features that can save you money.
- Gated Community: Manned vs. unmanned. Manned communities may offer a discount.
- Multiple Policy Discounts: If you have auto insurance and homeowners together with the same insurance carrier discounts are offered.
- Good Credit: You will get better rate if you have good credit.
- Brand New Home: Credits will be added for brand new homes.
- Wind Mitigation: A wind mitigation report documents the shape of the roof and roof decking, which offers savings.
- Security System: Additional savings are offered when home actively monitored.
- Home Upgrades: Making your home more wind resistant with impact glass windows, or updated plumbing could save you money.
Condition of Home can make things difficult, but not impossible
The condition and age of the home can hinder the ability to have more insurance choices, preferred pricing, or preferred coverage. Insurance carriers are becoming more particular with condition of the home more than ever before. While we do see these factors impact homeowners insurance Orlando, its not to the extent where you cannot get coverage or certain deficiencies cannot be overcome.
- Age of the home: Older homes or turn of the Century homes are harder to get homeowners insurance Orlando. Homes 30 years and older will require a 4 point inspection on condition of roof, electric, plumbing, and AC. Insurance carriers do not like homes with old Federal Pacific brand electrical box, aluminum wiring, or polybutylene plumbing or even old water heaters.
- Roofs: Shingle roofs older than 20 years are difficult converage also. Insurance carriers like to see 3-5 years life expectancy. If 20% of the roof is flat, it will reduce the number of carriers available to insure the home.
- Fire Hydrant: There is a surcharge if a fire hydrant is not 1,000 feet from the home. Its hard to find coverage is no fire hydrant exists or fire station is within 5 miles of property.
- Bank Owned/Foreclosures: Bank foreclosures can be damaged, and missing items such as AC or water heaters. Insurance carriers may want to see proof with photos the home is intact.
- Dogs: Homeowners with Pitbulls, Rottweilers, Chows, Dobermans, German Shepards, Akita, and certain mixed breed will have hard time with getting insurance on the home. Dog bite coverage does not exist on most policies.
- Crawlspace: Some carriers will cover that, others will not.
- Other: Trampolines, diving boards, prior sinkhole claims, prior claim history, property damage, make it difficult to insure.
Get Homeowners Insurance Orlando Quotes Quickly
Florida Office of Insurance Regulations offers a website where you can obtain quotes quickly. This is not home specific, but can give you a general idea of rates in certain counties.
When purchasing a home through Buyers Broker of Florida, we always make sure you are aware of your homeowner and flood insurance options. For more information on Orlando Real Estate, contact us today.