Revise your homeowner policy now and save from 15% to 30% that you could allocate for christmas

The hurricane season is over in Florida and fortunately there not were major storms from August to November 2010. Thus, neither the homeowners non the carriers have lost money. With these good news, the homeowners should take advantage of the new market conditions. It is the right time to re-quote and revise the homeowner insurance; you could save from 15% to 30%. Following are some of the most important tips:

1. Some brand companies have been dropping more than one million policies in Florida with the argument that they can not pay potential losses if the State does not approve the increase in premiums with an average of 40%. However, they want to keep other policies on their books such as: life, auto, business and annuities. Some clients have interpreted this as unfair treatment. In this scenario, the homeowner may quote with at least fifteen carriers that are very well rated in the A category from the financial perspective. Since there are several suppliers,  the consumers will find lower rates. In a free market, the supply and demand determine the price, as all of you know.

2. After the hurricane season the carriers open new markets and offer lower rates. So, it is most convenient for homeowners to cancel the policies in force and switch them to other insurance companies.  Furthermore, the insured will not receive proposals for renewals  during the hurricane season with double premiums since the standard policy will offer coverage for one year.

3. It is appropriated to review the limits and coverages. Some policies have inflation protection provisions, which increases the premium. In other cases, the homeowner have been over insured for long time because the calculation of premiums have been made based on mortgages balances or market value, which is illegal. The premium must be calculated base on the replacement cost of the property.

4.Some carriers are reviewing the homeowners' credit reports in order to evaluate the risk. Thus, if you have a good credit you should receive a lower premium.

5. Avoiding small claims is a good way to save more money because if you file a claim the premium will  increase at least 10% or 15%. Therefore, if you have a minor damage in your house is most convenient to repair it than file a claim. With this in mind, it is possible to increase the deductibles on the policies, which automatically decrease the premiums.

For free consultation please visit http://www.es-insurance.com/ or send me an email to nef@es-insurance.com