The Coming Rounds of Florida Home Insurance Cancellations and What You Can Do

coverage due to its age if the major systems in your home have been updated.

Ask each Florida home insurance agent for companies that are willing to cover homes in coastal counties and those located near the coast. Again some companies will cover your home near the coast if it satisfies their tidal water setback requirements and it has hurricane shutters.

Get a quote from as many companies that are interested in covering your home and make sure each quotes has identical coverage.

Find out how long each company has been selling Florida home insurance.

Research each company’s records for customer service and complaints.

Ask your agent about the company’s risk diversification across Florida and in other states as well. What you are looking for are companies that have spread their risk across a significant number of Florida counties and into other states.

Investigate the financial ratings of each company and determine the amount of surplus the company has accumulated to pay claims. If you are considering two different companies that have the same financial rating, select the company that has a larger surplus and more risk diversification.

While it is not good news to lose your Florida homeowners insurance coverage, stay calm. Contact several Florida independent insurance agents and obtain all of the information described above. This will give you the best chance of finding a new Florida home insurance company if your policy is