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Sunday, September 22, 2019
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Home Insurance Rates Through the Roof? Give This a Try.

By Hamilton Fox

If you are like most Florida residents, especially those of us in the Greater Miami area, you have likely experienced a sharp increase in your homeowner’s insurance premiums over the last couple of years. There are many factors that could be attributed to these increases. We’ve had hurricanes Irma and Michael recently hit the state, Assignment of Benefits abuse associated with water damage claims and now on the horizon is the increasing cost of reinsurance (insurance that insurance companies purchase). So, what can a homeowner do to offset these rising costs?

Most South Florida homeowners are aware of the Windstorm Mitigation Inspection report. It is the key document that allows insurance companies to apply premium saving credits to your windstorm or combined home insurance policy. While most of us are familiar with this report, few homeowners really understand the credits that are applied. More importantly, most homeowners don’t realize how close they are to qualifying for some credits that are not being applied to their policy. Sure, we see cases where a homeowner makes an improvement to their roof, windows, or doors but fails to notify their insurer. However, what is far more common are the close calls. A home that nearly qualifies for the Opening Protection credit or a roof that no longer qualifies for the Single Wrap credit. With a little work by a licensed contractor, homeowners can take advantage of these premium saving credits that they otherwise weren’t receiving. The best part is, in some cases the premium saving credit can outweigh the cost to have this work performed and your home will be better protected from the next storm.


Give it a try. Talk to an insurance agent that goes beyond the simple request for a quote. Call 855-4A-QUOTE or 855-427-8683 to speak with a licensed agent. Email inquiries to quote@hamiltonfoxins.com.

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