When buying a home, most mortgage providers have a requirement about buying homeowners insurance policy without which they do not provide the mortgage. The insurance costs are quite high but extremely necessary. Depending on your home and other factors like the location and structure of your home, rates will vary. Usually, when rates increase, it is because the insurance underwriter feels that the house is at high risk.

5 THINGS THAT CAN RAISE YOUR FLORIDA HOMEOWNERS INSURANCE RATES ARE:

Dogs Dogs meant to be man’s best friends cannot always be a best friend to your neighbors. Although they are friendly with your family, insurance companies cannot be sure on how they would act on seeing a stranger. Dog bites lead to serious injuries, the higher your dog breed the higher your premium rates. Some insurers do not agree to liability coverage after incidents occur.

Trampolines Trampolines add to your insurance rates. Normally installed in backyards for family fun, trampolines cause thousands of recorded injuries each year. Some insurers exclude damages by trampolines from your insurance policies or would charge you extra costs to cover the trampoline.

Natural disasters Damages caused by natural disasters are not covered under a standard insurance policy. In areas where some sort of natural disasters are common like hurricanes in Florida, the rates will be higher because the state may require coverage of disasters to be included in the standard policies.

Burglary Areas where burglary incidents are frequent, your home is at greater risk to insurance companies. There is a higher chance of increased rates in such areas.

Claims history When applying for homeowners insurance, the company checks the previous claims for your home. If it has a history of leakages then it would mean it could have future problems. The insurers will charge a higher rate due to the previous claims on the house.