[SunnyDog]

Originally Posted by Jannie

I maybe relocating to Naples next year. I have a condo there and I don't know if homeowners insurance is different or less expensive than for a house. My condo is insured as a secondary home and I only pay 373.00 a yr. I just called my insurance carrier and asked them if my insurance would go up if my condo becomes my primary residence and they said no, only if I increase the insurance.

Usually your Association fees will cover insurance for exterior walls, windows, interior walls (but not wall coverings/paint/wallpaper just the drywall) and of course common areas. Your own insurance generally covers interior contents--furniture, carpet/tile, appliances, wallpaper+paint.

[Jannie]

This is true. My association took out a separate loan to cover damages from hurricane Wilma. The homeowners now have to pay 650.00 each to cover the loan. My insurance has 1000.00 deductible, therefore, I have to pay out of pocket.

[Jammie]

I've been following the insurance threads on here and just don't understand how most of you can afford to pay for insurance. VP mentioned paying nearly 7,000 a year. With a mortgage and living expenses, how in the world do you do it? Is everyone on here a Dr. or lawyer or do you just all have 3 jobs?

[vpcats]

I for one don't know what I'll do yet. The increase in my HOI means a lot of stuff will not get done. Can't go out anymore. Pets will have to eat generic and go on a diet. Buy a bicycle and not use the car except for emergencies. My house has enough equity that I could get a home loan and pay it off but the loan terms may not be much better. I was told that, supposedly, if we have no hurricanes for two years, HOI rates will start coming down. But down may only mean still unaffordable. Who knows.

[summergal]

Originally Posted by ponytail

I live in Vero Beach. My neighbors pay about the same.

That's truly amazing, being so close to the water. You are very fortunate. But it probly won't last long, sad to say. Enjoy the break while you can.

[Jammie]

VP, I'd ditch the house and feed my pets the good stuff.

[kimwick]

I raised my dectucitable to 5000 and 5% hurricaine. I don't know what else to do. They have you either way.

[scamutz]

Originally Posted by macguy

You said "We got the policy when we purchased our new home" and it sounded like it was part of some package maybe. I could imagine you being told the insurance on the house is so cheap because the house is so well built. While "they" could have a deal with a company they assist you in using and kicking back to the company to produce a short term low rate making the house look like a bargain to own. I don't put anything past anybody when it comes to selling and money.

Actually, many new home builders have a "preferred insurance provider"...with my company, it is a deal that we have nationwide. They get an opportunity to quote every home that we sell (unless the buyer opts out) and we get reduced rates for our homeowners. No artificially low rates to make the homes look better...it usually isn't even discussed until near closing. Our PIP was also Balboa, when they stopped writing in FL, we switched to Wexford. They have also been providing great rates. Your best bet would be to call your homebuilder and find out who their new PIP is, and call them with the details.

[vpcats]

Jammie. My thoughts exactly. Trust me, those little 4 legged friends, eat better than I and they are sooooooo spoiled. I will lose my walls before my dogs and cats have to lose out on anything. :-)

Kimwick -- I got a quote for increased hurricane deductible (5% = $8500) $2500 for "other" and no replacement costs. Reduction in premium would have been just under $2000. Not worth it. :-(

[alexander59]

I am sitting here in my back room looking at my beautiful huge oak that is covered{not quite} with staghorn ferns, watching my four precious dogs ranging in size from 10 lbs to 80 lbs and thinking I have to stay here and try some how to figure a way to pay for this insurance or I won't have a place to go with my dogs. My mother and I have the same problem, we can not cut back anymore and we have no more income coming in. I have sold everything of value and rented a room out to keep up with insurance last year and this year it more than doubled. I am not alone in this and I am amazed that they have been allowed to do this all at once, if anything else that was nesessary increased by 400%, which mine did, there would be an uprising. Why aren't more of us outraged? If I had the option of going without I would and I think my mother is leaning in that direction.
Everything has increased, look at groceries, gas, thrift stores, wages in florida have actually gone down when you figure health costs and inflation.