The Citizen's Homeowner's Insurance Trap

Lately I have noticed that Citizens is massively overinsuring Historic homes, especially those selling for between $200,000 and $300,000.

Their underwriting system makes no sense and more people are overinsuring their house and don't undersand how to navigate the beauracratic system. I have found a way to reduce the amout of overinsurance on homes insured by the state run insurer of last resort.

Remember, you do not have to insure your land!!! For the average $250,000 house Citizen's wants to insure it for $300,000, costing around $4500 / yr. Here is how you beat the system.

1. Pay for an appraisal
2. On your appraisal find where it indicates "replacement cost"
3. If that number is lower than your insured value then you are likely overinsuring your house.
4. Call Citizens Insurance and Request a review by underwriting...it is likely they will ask to see your appraisal so be ready to fax it over to them.
5. Most people see savings of $1,000 to $1,500 annually.

Best of luck, If you need my help feel free to call 813-842-4217

Kevin Stuteville
Costantino & Company
http://www.liveinyborcity.com
http://www.liveintheheights.com
http://yborcity.mfr.mlxchange.com