[hiknapster]

Originally Posted by sware2cod

Make sure you get quotes from an indepen. ins. agent that can quote from various carriers. The rates vary greatly from ins. carrier to ins. carrier. Also, the prices to insure can very greatly from house to house. There are many many factors that can increase or decrease the price of insurance. Age of home, various construction materials, shape of roof, location of home, etc.

Insurance on a 2000 sq ft home might be 1000 for one home and $4000 for another home.

I think you should be able to get reasonable insurance. Make sure you get quotes before you go under contract on a home since it can vary greatly from home to home.

You can consider leaving OFF coverage for your personal belongings to bring the rate down...and increase the deductable. Newer homes in past 10 years or so can often mean cheaper insurance. However, there are even some older homes that can be reasonable as far as insurance.

Auto insurance is pretty cheap in many parts of FL. If you are retired, no more work commute on your car so make sure the carrier knows this as it results in lower premium since no more risk dyuring rush hour commute.

Generally, I agree with what you are saying. There is no standard coverage. The variables are too widespread. Your neighbor can be in the same type home as you and have a premium that is twice as high.

But contents is part of the standard policy and most insurance companies would not leave off personal property coverage. You can almost always find a company that will write a policy your way if you look hard enough but I'm not sure I'd want to deal with them come claims time. The bottom line is your contents coverage is a fraction of your premium and a lot of people don't realize that this covers not only electronics and furniture but pots and pans, clothes, everything down to your toothbrush. And replacement cost - old for new - is well worth it.

I would strongly urge people to raise their deductibles, though.

[MovedfromFL]

You can still get insurance for $700 or so (at least last fall you could) in Lake County on a newer, concrete home (stucco over block) that is close to a fire hydrant and has a hip roof.

The key to lower rates is: stay away from the coastal areas; purchase a newer home that is made of concrete block; make sure the neighborhood has a fire hydrant near your home; get a hip roof type (looks like a pyramid on top of the house vs. the gable roof that is a triange at each end, which allows the wind to get a good lift hold under there).

Other factors to lower the rate are an alarm system, and having a neighborhood that only has one point of entry/ exit. Rates will be a lot higher in a county that is closer to the coast, and for older homes (1970's, 1980's) that have older roofs, and maybe original plumbing and wiring. Ditto for pools/ screen enclosures and fireplaces. Outbuildings will also add to the cost. (ie a large detached garage).

[sware2cod]

Originally Posted by hiknapster

Generally, I agree with what you are saying. There is no standard coverage. The variables are too widespread. Your neighbor can be in the same type home as you and have a premium that is twice as high.

But contents is part of the standard policy and most insurance companies would not leave off personal property coverage. You can almost always find a company that will write a policy your way if you look hard enough but I'm not sure I'd want to deal with them come claims time. The bottom line is your contents coverage is a fraction of your premium and a lot of people don't realize that this covers not only electronics and furniture but pots and pans, clothes, everything down to your toothbrush. And replacement cost - old for new - is well worth it.

I would strongly urge people to raise their deductibles, though.

You can remove contents coverage from stand alone flood policy and also from standard citizens wind only policy.

On standard insurance (fire, theft, etc)you can modify for contents to be Actual Cash Value(used price) rather than Full Replacement Cost(brand new) if you are OK with the risk of getting used value for claimed personal goods. The savings can be 20% of the premium for doing this...but it varies by company. Most policies have low max payouts for electronics and computers anyway, even when Full Replacement Cost. Some only pay up to $1000 for computers no matter how many you have and how much they cost.

[hiknapster]

Originally Posted by sware2cod

You can remove contents coverage from stand alone flood policy and also from standard citizens wind only policy.

On standard insurance (fire, theft, etc)you can modify for contents to be Actual Cash Value(used price) rather than Full Replacement Cost(brand new) if you are OK with the risk of getting used value for claimed personal goods.

I know. But eliminating contents from a standard policy as opposed to changing replacement from ACV to replacement are too very, very different things.

I'm a licensed agent in 47 states for home and auto.

[sware2cod]

Originally Posted by hiknapster

I know. But eliminating contents from a standard policy as opposed to changing replacement from ACV to replacement are too very, very different things.

Of course they are. I tried to eliminate contents coverage on the standard policy, but they would not allow it though the flood and wind policies allow contents coverage to be removed so I removed it from those policies.

[Mathguy]

Originally Posted by beachmouse

Citizens is in far better financial shape than its critics claim.

Citizens has $19.5 billion after six storm-free seasons

Yes, 15% assessment after a 1 in 50 year storm is what I posted. I only provided the same information that was directly from citizens themselves.

Just saying its better to go to first sources than propaganda in the media.
It doesn't mention anything about the fact that Citizens in 2011 wrote more new policiies than the next 10 carriers combined, which is greatly increasing the maximum probable loss.

Again, gald to hear about all the improvements in risk abatement that helps everyone.

I actually approve of citizens, just not at their current rate levels. I hope they reach a happy long-term medium. Just don't kid yourself, they openly publish that their rates are not adequate long term. It's that simple.

[Bette]

Originally Posted by CouchTater

Our plan was to live in the Central Fla. area but in checking it seems that insurance costs are being passed along to those areas as well. Hopefully I'm wrong in that regard but in checking with my current insurer a move to Lake/ Orange County would probably at least double my homeowners ins. as well as my car ins. It ain't dead yet but it's in bad need of some CPR. Appreciate your words of encouragement though!

I'm a mortgage broker, just closed on a mortgage for a customer's home near Orlando - total premium was $1320 per year, however, they shopped around then and got $1081 for the year ($232K coverage, home built in 2003).

It also depends on the age of the home, roof, style of roof, alarm system or gated community, hurricane shutters - all those things help.

Also, it helps to have a wind mitigation report done (around $125 or less) and if your home is over 40 years old, a 4 point inspection.

[beachmouse]

Private insurers could be in more trouble than Citizens in storm season | Gainesville.com

Florida's weak private insurers will need a bailout equal to or greater than Citizens Property Insurance after most big hurricanes, according to a new report that contradicts much of the rhetoric surrounding property insurance reform in Florida.



State leaders are pushing to shrink state-run Citizens, saying that the company is a grave financial risk because it could run out of money to pay claims from a monster storm.


But the new report and updated Citizens financial information indicate shaky private insurers are as much or more of a financial risk in the two hurricane scenarios most likely to overwhelm claims-paying capacity.