Florida insurance renewals can bring surprises: a higher premium, a new deductible, or a letter saying your company won't renew at all. Your renewal notice usually arrives 45 to 60 days before the policy ends, and that window is your best chance to make changes. Here is what Fernandina Beach, Amelia Island and Yulee homeowners and drivers should check before signing off on another year.
Homeowners insurance
- Compare the premium to last yearIf it went up, find out why. A rate increase, a new roof surcharge or a lost discount can each be handled differently, and shopping your policy with other companies costs nothing.
- Check your dwelling coverageBuilding costs in Northeast Florida have risen sharply. Make sure your dwelling limit would actually rebuild your home at today's prices, not what you paid for it.
- Look at your hurricane deductibleFlorida policies have a separate hurricane deductible, usually 2% or 5% of your dwelling coverage. On a $400,000 home, 2% is $8,000 and 5% is $20,000. Know which one you have and whether you could cover it after a storm.
- Update your wind mitigation reportIf you've added a new roof, impact windows or shutters, a new wind mitigation inspection can earn credits that lower your premium. Reports are generally valid for five years.
- Read any non-renewal or change notices carefullyIf your company is dropping you or changing your coverage, the notice tells you the date. Don't wait until the last week to find a replacement, especially during hurricane season, when many companies stop writing new policies once a storm is approaching.
Flood insurance
Your homeowners policy doesn't cover flood. If you have a flood policy, check that the building and contents limits still fit your home. If you don't have one, keep in mind that most new NFIP policies have a 30-day waiting period, so the time to buy is well before you need it. Citizens customers should also review Florida's flood insurance requirement.
Auto insurance
- Drivers and vehicles: add a new teen driver, remove a car you sold, and make sure each vehicle's use and mileage are current.
- Liability limits: Florida's minimums are low. If you own a home or have savings to protect, higher bodily injury limits and an umbrella policy are worth pricing.
- Uninsured motorist coverage: Florida has a lot of uninsured drivers, and this coverage protects you when one of them hits you.
- Discounts: ask about bundling, good student, paid-in-full and safe driver discounts.
Don't forget the extras
Renewal time is a good moment to check the policies people tend to forget: your golf cart, boat, a vacation rental you started renting out, or an engagement ring or other valuable item that should be scheduled on your policy.
Want a second opinion?
Southend Insurance is an independent agency on Amelia Island. Send us your renewal notice and we'll compare it with multiple companies and tell you honestly whether we can do better. Start a quote online, call (904) 807-4554, or stop by 5317 S. Fletcher Ave., Suite 3.
This article is general information, not a substitute for your policy documents. Coverage, deductibles, discounts and eligibility depend on your policy and the insurance company.