How to Find The Best Home Insurance in Crestview, Florida?

The 2017 Atlantic Hurricane was not kind for many Floridians. Hurricane Irma is estimated to have cost Florida Home Insurance Carriers over $25 billion dollars.

What does this mean to Crestview homeowners?

Insurance rates will rise, and a handful of insurance companies will simply close their doors. Homeowner's insurance agents in Crestview can tell you with certainty that rates will rise after a hurricane. Home Insurance in Crestview is not individually rated. Instead, it is a pooled risk with every individual in the State of Florida. That means, when a large catastrophic loss occurs in Florida, everyone's home insurance rates are affected.

What can Crestview Homeowners do to be certain they are getting the best rate.

Below are a few pointers on getting the best rate:

1. Pay Attention to your Renewal Price.

Most Crestview Homeowner Insurance policies are escrow billed, meaning your mortgage firm pays the bill on your behalf and pays the home insurance premium as a part of your monthly mortgage payment. If the price of the home insurance increases, then your mortgage also goes up, so pay attention to your policy renewal and compare it with your last insurance term.

2. Verify the Information on your Policy is Correct

Agents can make mistakes when underwriting the insurance policy. They may miss valuable discounts such as brick veneer, a hip roof, and an incorrect age of the home. All of which could cost you additional hundreds of dollars each year.

3. Laziness of the Agency

Yes, insurance agencies can get lazy! Because some Crestview Home Insurance policies are escrow billed and the carrier automatically bills your mortgage company, your insurance agent may not have checked to see if there are available better rates through other carriers within the agency. It's always a good idea to work with an independent insurance agent that has several home insurance markets available.

Work with a local agency!

Why? After the storm is over, electricity may be out for some time, and cell phone towers can become unreliable. This means you will have to drive to the agency to file the claim. At Moran Law, we have procedures set up to take care of clients after the storm.

Flooding is NOT covered!

Flood Insurance is not typically covered under a standard Crestview homeowner insurance policy. If the roof gets ripped off during a hostile storm, and water destroys what is left of the house, this is covered. Why? The wind took the roof off, which is the direct factor that caused the interior water damage. If the rising of groundwater causes property damage, this is defined as flood, and is not covered. Simply put, "Water falling is covered while water rising NOT covered." Flooding is covered under the National Flood Insurance Program.

Your personal possessions

Most Crestview homeowners insurance policies offer coverage for your personal possessions for approximately 50 to 70 percent of the amount of insurance you have on the property or "dwelling" of your home. The limits of this policy appear on the Declarations Page under Section I, Coverages, A. Dwelling.

To determine if this is sufficient coverage, you may be required to conduct home inventories. This is a thorough list of everything you own and other information related to the cost to replace these properties if they were stolen or destroyed by a disaster such as a fire. If you think you require more coverage, contact your insurance company representative and request higher limits for your personal possessions.

Compare Crestview Home Insurance Quotes

If you reside in Crestview, you simply can't afford to skimp on home insurance. However, finding reasonably priced rates can be challenging. Our Insurance Agents can help you find the most affordable coverage options by offering complimentary rate quotes on multiple policies. Take time to compare Crestview home insurance rates, and it could equal major savings on your annual homeowners insurance premium.

If you're searching for homeowner insurance in Crestview, contact us today for a free personalized quote.

Resources and References:

• National Flood Insurance Program
• Insurance Information Institute