A few tips on How to Save Money when purchasing your Wellington Florida Home
When you contact your insurance agent, you will probably be given several different quotes from several companies you have never heard of.
Long gone are the days when you could call your Allstate, State Farm or Nationwide agent and have them take care of all your insurance needs with one carrier. More and more insurance offices are becoming small brokers for many different carriers.
When you receive the first quotes from your agent, they most likely will have certain discounts "built in" based on the year the home was built.
- The first thing to do is have a Mitigation Inspection completed on the home. This inspection will verify what discounts should be applied for roof
type and condition, and what kind of hurricane protection the windows of the home have.
- While the home may appear to be completely shuttered, some shutters do not qualify for any discounts at all. While these shutters may prevent some damage, they do not have a sufficient impact rating to qualify for any discount.
- Another discount to look at on home insurance is the alarm discount. While we have all seen the commercial that states you can save 20% off your insurance if you have company XYZ hooks up your system and monitors it. It is important in the Florida market to realize that the 20% is off the hazard insurance only, which only accounts for approximately 1/3 of the total premium. So be careful when having that alarm hooked up with expectations to save a bunch of money, it could be a lot less than you thought.
The most important aspect to consider when purchasing a new home owners policy is what company you are purchasing from.
All coverage is not created equal, if you don't call several agents or brokers to see what different companies they represent you could be throwing money away.
While one company may charge $2,000 for the same coverage another company charges $1,000, the best deal isn't always in the premium. I would rather spend more on an annual basis knowing I will get paid in a claim situation, on the other hand sometimes the lower premium is the better company.
The lesson here is to investigate the companies for all the quotes you get and make an informed decision.
HANSEN REAL ESTATE GROUP INC.
561.333.0446
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