What Insurance Companies Don't Want You To Know
Buy The GuideHave you ever wondered why Florida homeowner insurance companies make it so hard to find out whether they are writing coverage? Why that coverage is in such short supply? And why its so hard to get Florida homeowners insurance quotes?
For starters, the number of policies each company can issue while maintaining their financial ratings from rating services like AM Best and Demotech is limited. If they write too many Florida homeowners insurance policies, their financial ratings could be downgraded which would affect their ability to attract capital. When investor capital dries up, so does their ability to write you a policy.
Florida homeowners insurance agents submit a large number of policy applications for consideration and the companies can be very selective about who they accept. Companies like this because they can be presented with one risk at a time and can make selective decisions about whether to accept you.
Every Florida homeowners insurance company has its own underwriting guidelines. These guidelines include things like the maximum age of home they are willing to cover, a specific number of homes within a given geographical area, and your home's proximity to water. The underwriting process is very complicated and relies on sophisticated modeling to help the insurance companies decide which risks they should accept.
In addition, each Florida home insurance company wants to keep their own underwriting guidelines secret from its competition. If one company is better at predicting risks and losses than another company, it makes sense that they don't want other companies writing policies in the same areas that they have determined represent a lower risk.
Finally Florida homeowner insurance companies and insurance agents are regulated by the state. Depending on how they are licensed, some companies can't market their insurance products directly to you. Agents on the other hand, can represent more than one insurance company. Their license allows them to act as a middle man in selling you the insurance but it is the insurance company behind the scenes that makes the final underwriting decision on whether to grant you coverage or not.
All of the factors above contribute to environment of secrecy and a natural tendency for many insurance companies to hide behind the agent network.
At the Home Insurance Buyers Guide, we understand the motivation behind much of this secrecy. However, we can't believe the time that is wasted both by homeowners and insurance agents who are trying to sort out this information.
Have you ever wondered how many times per day agents get phone calls asking whether a particular company is writing new business? And why you can never get Florida home insurance quotes from one of these companies? In many cases these inquiries are made over and over again about companies who haven't written any new business for years!
We're fed up with this shroud of secrecy. That's why we've developed the Buyers Guide - to help you save time finding companies to insure your home, while avoiding companies and agents who are not accepting new business.
For only $19.99, you will receive two weeks access to our on-line database in the Florida county of your choice - where you will be able to find, screen, and contact Florida home insurance companies still writing new business in your area.
You're just minutes away from learning what Florida home insurance companies don't want you to know - and saving thousands!