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Florida homeowners may have more insurance options. Here's how to shop for coverage

nbcmiami.com · 3dShare

Florida homeowners pay some of the highest insurance rates in the country, but a growing number of insurers entering the market and requests for rate reductions could give consumers more options. The average Florida homeowner pays more than $8,000 a year for homeowners insurance, according to Insurify. Still, consumers may be able to find a lower premium by shopping around. Insurance experts say homeowners should compare more than just the price when considering a new policy. The first step is to review the declarations page, sometimes called the “dec page,” of your current homeowners insurance policy. The page provides a summary of important details, including coverage limits and deductibles. A lower premium does not necessarily mean a better deal. A cheaper policy may provide less coverage or come with higher deductibles. Homeowners should pay particular attention to whether certain types of damage, such as wind or hail, have separate deductibles. For example, a policy with a 1% wind

First report: Coastal damage and a looming El Niño prompt warnings for homeowners to review insurance coverage — abc7.com, 5d