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You may be contemplating buying a home or shopping for a new homeowner’s policy.  If this is the case, your first concern may be price.  In Orlando, understandably cost is one of the first things we consider for our homeowner’s insurance.  It can be challenging to understand the pricing of homeowner’s insurance policies as there is not general formula.  There’s no way to correctly assess the cost per square foot based on your habitation.  Homeowner’s insurance is based on “risk assessment.” The best way of getting an accurate assessment and premium quote is by contacting the insurance company directly and giving them your information.  Instead of contacting numerous insurance companies, you can also shop directly through a broker like Direct Insurance Network.       

If you’re wondering about risk assessment, this term is used to describe the process of taking into consideration the risk of your household in the home you’ll be residing in.  This means if you’ve had a home in the past that has had a fire, flood or major issue, you’re considered a much larger risk and your premium will reflect that.  Without a perfect equation, there are still several things you can do to better evaluate the cost that you’ll be paying in homeowner’s insurance.  If you’ve suffered a pipe bursting in the past, you’ll know that this will likely be taken into consideration in pricing a new policy for your home.  In order to properly assess your price, you want to look at your history and consider any accidents that may have happened in your past and be honest about these incidents when seeking a quote.

Another way to assess risk is your neighborhood.  Has there been recent crime? Break-ins? Orlando is a safe community however some neighborhoods are more prone to burglary than others.  Make sure to do your research in finding the best neighborhood before pricing homeowner’s insurance.  You’ll find that in Orlando, prices are most competitive in traditionally safe areas.  Finding the right place to plant roots is important and also saves you money in the long run.

An alternative way to predict the amount you’ll be spending monthly in your Orlando home is by asking the neighbors.  While their background and assets might look very different from yours, it’s likely that your homes are assessed on the same scale in terms of size, weather risk and criminal risk.  These things are major factors and can give you a good idea of a baseline in terms of pricing.  If you’re comfortable finding friend’s that will share this with you it will give you a very rough estimate.

Orlando is a wonderful place to live but with that comes a high price tag.  Direct Insurance Network works to best identify the homeowner’s insurance companies that have the best product for you in your home.  We have partnered with the best insurance in Florida to find the protection and quality that you need from an insurance provider.  By working with a broker, you find the price that fits your budget and provides the protection your family needs.