For the 2nd time in one year, Security First Insurance, one of Florida’s largest private homeowner’s insurance companies, is offering a new type of insurance policy to bring affordable insurance options to Florida homeowners. This week, it announced the launch of its Homeowner’s Premier HO5 policy, which will allow qualifying Florida homeowners to save up to 20 percent on their home insurance premium.
To qualify for the policy, Floridians must have no claims or just one claim caused by a weather event and good-to-excellent credit. Security First Insurance is the only company in the State of Florida offering this policy for homes with a replacement value starting at $350,000 and with equipment breakdown and service line coverage included in the policy at no additional cost.
Many homeowners are seeking relief from insurance rate hikes caused by the overwhelming amount of contractor fraud committed in Florida and exorbitant litigation costs as a result of frivolous lawsuits being filed against insurance companies for illegitimate claims. Florida’s homeowner’s insurance companies suffered $1.7 billion in losses last year as a result of these challenges.
“We have worked very hard to improve Florida’s insurance laws to curb the increase in fraud and prevent excessive and unwarranted attorneys’ fees,” said Melissa Burt DeVriese, President of Security First Insurance. “New legislation being passed this year will help, but it will take some time for it to have an impact on rates, so we’ve also been working away to create new solutions to offer some benefit and relief now,” she continued.
Last year, the company launched a new Dwelling Basic policy to give Floridians with homes valued at $150,000 to $1 million an option to customize coverage and lower their rate. The company also offers policies for renters, condo-unit owners, and landlords who are leasing their property to others.
Anyone needing homeowners insurance can obtain an instant quote online or call Security First at (877) 900-3974. Representatives are available Monday through Friday 8:00am – 8:00pm and Saturday and Sunday 8:30am – 5:00pm.