Recent Results:
State: Florida Public Insurance Adjuster
County: Collier County Public Insurance Adjuster
City: Lely / Lely Resort Public Insurance Adjuster
Lely Resort FL 34113 – Neighborhood: Lely Island/Mallow
Claim Type: Roof Leak – Water Damage
Insurance Company Original Offer: $21,000
Alpha Public Insurance Adjusters Settlement: $35,000
Percentage Increase: +60%
State: Florida Public Insurance Adjuster
County: Collier County Public Insurance Adjuster
City: Lely / Lely Resort Public Insurance Adjuster
Lely Resort FL 34113 – Neighborhood: Mustang Island Circle
Claim Type: Roof Leak – Wind/Water Damage
Insurance Company Original Offer: $11,000
Alpha Public Insurance Adjusters Settlement: $45,000
Percentage Increase: +300%
State: Florida Public Insurance Adjuster
County: Collier County Public Insurance Adjuster
City: Lely / Lely Resort Public Insurance Adjuster
Lely Resort FL 34113 – Neighborhood: Lely Island/Mallow
Claim Type: Shower Pan Failure – Water Damage
Insurance Company Original Offer: $1,300
Alpha Public Insurance Adjusters Settlement: $28,000
Percentage Increase: +2000%
4 Ways to Decrease Your Homeowner’s Insurance Premium
Premiums for homeowner’s insurance are always through the roof. Insurance is a necessity, especially in Florida, where homes are impacted by tropical storms and hurricanes half the year. When the unexpected occurs, it’s good to know you have a financial cushion to keep you from paying significant out-of-pocket costs. And we all know the unexpected comes in many forms. From plumbing problems to kitchen fires to natural disasters. Some good news is when it’s time to file a claim, you aren’t alone. The insurance company has its own adjuster to assess the damage, but you can also contact an expert public adjuster for a second opinion. This is a licensed professional who works directly for you, not the insurance company.
In the state of Florida, the premium for homeowner’s insurance has increased over the last few years. If you think you are spending too much, what can you do to lower your cost? There are a few strategies you can implement, some of which our team has listed below.
Shop Around
We aren’t going to lie. Shopping around is a time-consuming step. The state you live in simplifies the process by providing detailed information on different insurance companies, such as the number of complaints received, average rates by major providers, and other important information. You can find this on the National Association of Insurance Commissioners.
Although we are on the topic of lowering your premium, it’s important to note that prices should not be your only deciding factor. It’s also important that the company you choose can offer the services you need when you file a claim.
After you have done your research and narrowed down the insurers to roughly three, set up interviews and start asking questions. This will give you a feel of the type of service they offer and how committed they are to helping their clients. For example, what will they do to help lower the cost of your insurance premium?
Get Discounts
Insurance companies offer several discounts for different situations. It’s important to keep in touch with your insurer annually, even if you aren’t filing a claim to ask them about discounts you may be eligible for. If you have recently upgraded your home, such as installed a new roof, this may shave a few extra dollars off your premium. You can also reduce your cost by bundling policies, like your home and auto policies, keeping them under one roof.
Read and Understand Your Policy
Learn what your current policy covers. If you don’t understand the legality of your policy, call your insurer, and ask for clarification. They should be able to assist you with each confusing section of your policy. One of the most important pages to read is the Exclusions page, so you know what your policy does not cover. Never trust that your insurer has given you all the necessary information prior to selling their policy. Furthermore, don’t assume they sold you the right policy. You should also carefully review the Declarations page, which summarizes your coverage.
Increase Your Deductible
The higher your deductible, the more you save on your premium. In general, deductibles are around $500. However, if you can afford to raise it, you can skim a chunk off your premium. According to the Insurance Information Institute, if you increase your deductible from $500 to $1,000, this can save you 25% or more on your homeowner’s insurance premium.
In addition to raising your deductible, make sure you don’t file a small claim, as this can also increase your premium. If you don’t typically file a claim on damages that are $1,000 or less, then consider increasing your deductible if it is currently under $1,000.
Contact Alpha Public Insurance Adjusters
We hope you apply these tips in real-world scenarios and they provide you with much-needed savings on your premium. Another tip is to hire an expert public adjuster, like one of our team members at Alpha Public Insurance Adjusters. While this won’t directly decrease your annual premium, it can maximize your settlement, giving you more money to repair costly expenses after the unfortunate occurs. If you live in Lely Resort or the surrounding areas, call us at (888) 442-5742 for a free consultation.
