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Old 02-03-2013, 05:35 PM
 
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Hi,

Anyone know the typical insurance cost for a small (two-bedroom) wood frame house in inland areas of Florida (Leesburg, Ocala, etc.)?

I know there are many variables that affect cost, just interested in any "for examples" anyone can share. Thanks!
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Old 02-03-2013, 06:58 PM
 
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Your best bet is to find a real home with an address. Maybe look at realtor.com or zillow.
get the sq footage, age and other basics and call an insurance agent in that general area for an estimate. Find an indepenent agent that sells policies for several insurance carriers. If you call a one stop agency like State Farm, then you might get quote much higher quote. State farm has been known to be much higher than others IF they even sell HO insurance in FL.

Rates can vary quite a bit from carrier to carrier and also by location and property type.

Higher deductable can lower your rate.
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Old 02-03-2013, 07:05 PM
 
Location: finally where I am meant to be
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If it is an older wood frame house you will be paying more money for insurance than someone with a newer concrete block home. They look at the cost to rebuild a house, and to make sure it is up to the new codes, it does not go by the current value of the house, but the replacement cost estimate.
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Old 02-04-2013, 12:23 PM
 
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Some wood frame houses are basically uninsurable if they are over a certain age. And they will definitely be very expensive to insure. We had a small, 1920s home in Lakeland that cost about $1,800 per year to insure, and that was 6 years ago. You will not have a large selection of companies to choose from.

If the home is newer and up to the latest storm codes, you will pay less. But again, there are too many variables for us to answer, as advised above, you need to pick an example of a real home and get quotes on it.
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Old 02-04-2013, 11:24 PM
 
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Thanks very much, everyone. All great suggestions and info, and much appreciated!
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Old 02-05-2013, 07:20 PM
 
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I have a home south of Lakeland and it was built in 1925. Everything has been updated, electric, plumbing, roof, siding, windows and A/C. The house is wood frame and has a brick fireplace. The insurance company did a 4 point inspection and the guy said I could use more insulation in the attic. I also have a cement block garage with a steel roof all this on a 1/2 acre. Mine is 1200 sq ft with 3 beautiful oak trees shading it and 10 foot ceilings. 2 bedroom 1 bath. I have minimal termite damage on the original hard wood floors but no structural damage. My insurance is $850 this year. Don't be afraid of a old house in a good neighborhood. Talk to the neighbors and they will let you know of any problems. I love my old house. I have french doors and glass door knobs, plaster walls and a big archway that goes into the hall. One thing you can do if you find one you like is look it up on the property appraisers site. If someone had a loan in the last 5 years or so that means it must be good because a bank won't give a loan on a bad home. Good luck.
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Old 02-05-2013, 10:33 PM
 
517 posts, read 1,091,728 times
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It sounds like you really love your home, and so thank you for the encouraging words as well as the great practical advice. You're reminding me (by example) that there's much to feel proud of and enjoy (as well as to worry about) in owning a home. Thank you!
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Old 02-06-2013, 01:30 PM
 
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Would a new home built up to the latest codes be cheaper to insure towards the middle of the state than one closer to a coastal area?
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