Pompano Beach, Florida is one of the top real estate markets in the country. This is partly due to a relatively low cost of living compared with the rest of Florida. One thing that you will end up paying more for, however, is insurance--Florida consistently rates one of the top most expensive states to insure a home.
Factors Affecting Pompano Beach Insurance
Knowing some of the factors that affect your Pompano Beach insurance quotes can help you save money. Some of them, like the weather, you can't do anything about. Others you can, which will allow you to lower your rates.
A few of these factors include:
- Hurricanes. Florida has been hit hard by many devastating hurricanes (remember Katrina?). Hurricane damage is almost guaranteed when a hurricane hits, and filed claims are for large dollar amounts. As a result, your rates are higher.
- Housing values. Florida overall has a higher cost of living; as a result, home prices are generally higher than in other places in the country. This will also influence your homeowner insurance rates.
- Age of home. Older homes are viewed as riskier, especially if the wiring or plumbing is outdated and the risk of electrical fires or plumbing problems.
- Crime rate. Higher crime rates--particularly property crimes like burglary and auto theft--tend to increase your Pompano Beach insurance rates as well.
- Labor and materials costs. The cost of labor and materials in your area will also influence the amount you pay for your insurance. It will be higher if you live in an area where materials are harder to come by or laborers tend to charge more.
Lowering Your Pompano Beach Insurance Quotes
You can save on your Pompano Beach insurance, even with higher than average prices for homeowners insurance. There are a number of ways you can do this:
- Don't over (or under) insure. Many people either over or under-insure the value of their home and personal possessions. Over-insuring means you're paying higher rates than you should be, while under-insuring doesn't fully protect you. Take the time to get estimates and take a thorough inventory of your home, so you know exactly what you do and don't need.
- Update your home. If your home is older, updating the wiring, plumbing, sewage, and electrical systems throughout the house can qualify you for a discount on your insurance rates.
- Install security and safety features. Even if you live in a safe neighborhood, burglar alarms, deadbolt locks, and other security features will lower your insurance rates. Same goes for smoke detectors and fire extinguishers in the home.
- Shop around. One of the best ways to save money on your Pompano Beach insurance quotes is to shop around and compare quotes from multiple companies. Netquote.com makes this process easy and fast. Research insurance in Florida, then find multiple Pompano Beach insurance quotes to compare.
Just because Florida homeowners insurance is expensive doesn't mean you need to pay full price for it. There are many ways you can lower your Pompano Beach insurance quotes.