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7 Ways to save money on your Home Insurance Policy - Tip #3

Florida Home Insurance Jacksonville can get expensive each year. But, here is an easy money saving tip. This one is pretty straight forward. Increase your deductible.? Homeowners insurance is expensive and for some homes right on the beach or in sinkhole prone areas, it can be down right difficult to find insurance.

First, we recommend that you don't turn in small claims to any Florida insurance company. Because, once you do, many companies will raise the premium after you file a claim. The money you get back should be more than you will pay in increased premiums. So, if you aren't going to turn in a small claim, you should increase your deductible. We recommend that claims less than $1000 you consider making the repairs your self - it will often be less expensive in the long run.

There are typically two types of deductibles in Florida - your deductible (called your all other peril deductible and hurricane deductible. While you can still purchase a $500 all other peril deductible, we recommend a minimum of a $1,000 deductible. This is because, if you stay claims free for 2 years, the $1000 deductible often pays for itself in savings. Other deductibles can be obtained at $2,500 or $5,000. This deductible applies to all covered claims, except, hurricane claims or sinkhole claims..

The second type is your Hurricane deductible. This is a deductible that applies if a named hurricane causes damage your home. This means it has to be a named storm - like Andrew, Charley, Katrina, etc. (You can track these types of storms through the National hurricane center.) For damage caused from named storms, for your homeowners insurance you can choose a 2%, 5%, or 10% hurricane deductible. This is a % of the total amount of insurance - not the total claim. For example, if your home is insured for $100,000 and you have a 2% hurricane deductible, the actual dollar amount of your deductible is $2,000. Most of the time, customers purchase a 2% hurricane deductible, but savings can be obtained with a 5% or 10%.

At Augustyniak Insurance Group, we can compare many different companies' homeowners insurance Jacksonville FL policies, so you can lessen the amount of time you spend shopping, plus we give you free expert advice and quotes on the different prices associated with different deductible choices for your home insurance Jacksonville, home insurance Daytona Beach, home insurance Orlando, and home insurance Ponte Vedra Beach.