How to Save Money on Your Homeowners Insurance in Daytona Beach, FL

The cost of homeowners insurance in Daytona Beach, FL can vary considerably between carriers, but there are several ways you can save money on your home insurance policy.

Replacement cost vs. market value

When insuring a property you are actually insuring against the home’s replacement cost in the event it is completely destroyed by a covered event and needs to be completely rebuilt. Since the replacement cost is often much less than the current market value of your home, be sure to check your homeowners insurance policy to make sure you are carrying the right amount of insurance and are neither over-insured nor under-insured.
Home protection

Adding fire and burglar alarms, fire-retardant paint, shatter-resistant glass and storm shutters, and reinforcing your roof can help save on home insurance premiums in Daytona Beach, FL. It is also important to modernize your electrical, heating and plumbing systems to minimize the risk of fire and water damage which can also help lower premiums.

Combine your home insurance and auto policies

You can get a substantial discount of up to 40 percent on your homeowners insurance in Daytona Beach, FL when your auto policy is covered with the same carrier. However, when buying home and auto insurance from the same insurer be sure that the combined price is lower than purchasing the coverage from separate carriers. 

Raise your deductible

The deductible is the amount you pay toward a covered loss before your home insurance policy begins to pay a claim. For instance, if you have a $250 deductible, and you file a $1,000 claim for covered property damage to your home, you pay the first $250, and the insurance carrier pays the remainder, which, in this case, is $750. You can lower your premiums simply by raising your deductible to a higher amount. Most insurance companies recommend a deductible of $500 but if you can hike it to $1,000 then you could save up to 25% on your homeowners insurance.

For more than 35 years, homeowners have trusted the experienced and dedicated professionals of HIG Insurance for all of their insurance needs. To contact us and see how much you can save on your home insurance in Daytona Beach, FL, simply dial toll-free 1-888-CALL-HIG or visit online today!

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