Lake Worth, Florida, homeowners can lower home insurance rates by 36.8%
By: Ajay kumar Medagani October, 29, 2019
In Lake Worth, Florida, the average homeowner's insurance rate is $590 per annum, which is much lower than the national average of $1,228 per annum. Research by Gavop shows how homeowners in Lake Worth, Florida can lower their home insurance rates.
Lake Worth homeowners can further reduce their home insurance premiums by constructing homes with superior fire-resistant material. Insurance companies offer discounts of up to 16% on such homes. Homeowners living in brick veneer constructions can get a discount of up to 4% on their insurance premiums, whereas those with masonry homes can get a discount as high as 16%.
Homeowners in Lake Worth who have never filed an insurance claim before can get a discount of $138. However, if you have filed one claim before, you will have to pay an additional $104, and for two filed claims, this amount increases to $161.
Senior citizens of Lake Worth can earn a discount of about $161 on their homeowner's insurance.
AAA Insurance offers a discount up to 36.8% discount for newly constructed homes, AAA also offers a discount of 7.5% for single-story homes. Bunker Hill insurance offers a discount of 15% for homes with superior construction.
Installing safety and security features in homes is another way Lake Worth homeowners can lower their home insurance rates. For instance, homes that have deadbolt locks are eligible for a $92 discount. Functioning fire extinguishers can secure a discount of about $104, while smoke detectors can get a discount of $161. Moreover, a $115 discount can be availed for homes with sprinkler systems. Fire and burglar alarms can earn a discount of $219 and $58, respectively, and, a discount of $46 can be availed for a lightning protection system.
Bundling insurance policies can also generate big savings for homeowners in Lake Worth. Bundling home and auto insurance can attract a discount of at least 10%. Besides, combining homeowners insurance with life insurance can also help homeowners get a discount of about 12%. Bundling all three insurance policies, including home, auto, and life can earn Lake Worth homeowners a discount of up to 24%.
ABOUT THE AUTHOR
Ajay Kumar Medagani
Ajay Kumar works as a data analyst with Gavop. A (software) engineer by profession, he utilizes his well-established programming skills in big data, to derive insights from a wide variety of data sets. A engineering graduate from JNTU his passion involves analyzing raw data, infographics and other visual aids for research.
