A smaller deductible and a smaller policy are different
Security First says changes to its Premier HO5 homeowners product took effect October 1 for new and renewal business in Florida. The insurer describes new discounts, deductible choices and coverage options. These are product-specific changes, not a statewide rule or a promised reduction for every homeowner.
The new Disappearing Deductible option concerns All Other Perils and water-damage deductibles. The company says existing customers without a claim in the previous year receive a 20 percent deductible reduction at renewal automatically. The selected deductible and eligibility conditions still matter; a hurricane deductible should not be assumed to change on the same terms.
Compare the same coverage at renewal
The company expands personal-property coverage choices from a previous 25-to-75-percent range to 5-to-75 percent. A lower selected limit can leave more belongings uninsured. Limited water-damage options now range from $10,000 to $50,000, and listed All Other Perils and water deductibles range from $500 to $25,000.
Before comparing renewal prices, compare limits, exclusions and deductibles on the actual quote. New discounts for bundles or specified customer categories are not an automatic award for everyone. A smaller premium achieved by reducing protection is a different financial choice from a discount that leaves the same coverage intact.