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How Risk Mitigation Can Positively Affect Your Insurance Premiums

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The price Floridians pay for homeowners insurance varies depending on many different factors. Your home’s location, age and market value can all affect your premiums. So can your choice of insurance carrier, the amounts of your deductibles, and whether or not you carry supplemental policies (endorsements).  Insurers will also consider your credit score and home insurance score when making a decision.

Many of these factors can make insurance premiums go up. However, you may be able to make your homeowners insurance premiums go down by practicing risk mitigation.

What is risk mitigation?

When your insurance carrier reviews your application for a policy, they don’t just look at your personal history of credit and insurance coverage, and your home’s value. They’ll also be looking at your home’s history, and whether or not there are any pre-existing conditions which could increase the chances of a claim being filed.

Potential risks that can increase your premium:

It is often possible to lower or “mitigate” your risks, and in turn potentially lower your annual premium.

Ways to mitigate risk and lower homeowners insurance premiums

You can help mitigate risk against fire, home break-ins, storm damage and more by following these guidelines:

All of these steps can help you reduce the risk that you’ll have to file a homeowners insurance claim, and can help lower your homeowners insurance premiums. If you have questions about these and other potential ways to improve your home and obtain premium discounts, ask your insurance agent.


This article is for informational purposes only and does not form a part of, replace, change or amend any terms, conditions, provisions or language within your Olympus Insurance policy. We encourage you to read your entire policy.

Olympus Insurance is licensed by the state of Florida. Information found on this site is intended for Florida residents only.