Top tips for lowering homeowners insurance rates - FOX 35 News Orlando

Top tips for lowering homeowners insurance rates

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LAKE MARY— Floridians pay the highest homeowners insurance rates in the country, according to the most recent report by the National Association of Insurance Commissioners.

At $1,933 dollars a year, the average premium on a Florida homeowner's policy is twice the national average, according to the report.

Winter Park-based insurance agent Michael Cullen, a field manager for AAA Insurance, said hurricanes and sinkholes are largely to blame for high rates.

Cullen recommends his clients bear the added expense of sinkhole coverage.

"I always tell folks if you can get it you should. It can happen anywhere.  Just because your house has been in the same place for 20, 30 years doesn't mean one can't open up tomorrow," Cullen said.

He said homeowners can fight the effects Mother Nature has on insurances bill when it comes to hurricane coverage by meeting with a wind mitigation specialist.

The $100 roof assessment can save several hundred dollars a year, Cullen said.

He also recommends sitting down with an agent to carefully review your policy to make sure you aren't paying for coverage you don't need.  

"Take the time to go into somebody's office with your declaration page make sure you have them go through what they're offering and what you have to make sure it suits your needs," Cullen said.

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