Lower Homeowners Insurance?

The state and many insurance agents are reporting a drop in property insurance rates. Homeowners who have taken steps to make their home more hurricane resisitant are seeing large discounts. In addition, state capped rate hikes and a batch of new insurance companies bringing competition to the market have combined to help lower rates an average of 16 percent. Florida has been encouraging new companies to take policies from Citizens Property Insurance Corp., the state insurer of last resort. The good part is that these new companies must charge the same or less than Citizens. However, there are some concerns that some of the newer insurance companies offering cheaper rates haven't experienced an active hurricane season, so they may not be as reliable and will have less money to pay claims. For more info to lower your premiums, visit the Florida Office of Insurance Regulation at www.floir.com to see if your company is licensed in Florida, or the Florida Department of Financial Services at www.fldfs.com to get checklists and consumer guides. You can have insurance agents contact you by registering at Florida Market Assistance Plan, www.fmap.org. Find info on free home inspections and tips to make your home safer in a storm from the My Safe Florida Home program at www.mysafefloridahome.com.