[jay chardon]

What are you paying for house insurance?
It may be helpful to others to know what insurance costs in different areas of Florida.

I live in North Port, about 20 miles from the Gulf. I pay State Farm $1200 a year for a 1% deductible on a 2020 sq' home built in 2001. Although not in a flood zone, I chose to purchase flood insurance for another $300 per year.

Jay

[lvmy3grls]

I live in Wellington in Palm Beach County, and I have a 2900 under air, wood frame house, 4 bedroom, 2 1/2 baths, 1/2 acre property w/pool, and they just raised us to $7,500 a year, nice huh??

[verobeach]

Originally Posted by lvmy3grls

I live in Wellington in Palm Beach County, and I have a 2900 under air, wood frame house, 4 bedroom, 2 1/2 baths, 1/2 acre property w/pool, and they just raised us to $7,500 a year, nice huh??

This is just crazy! I live in Vero Beach, newer home that meets recent hurricane codes, I have hurricane shutters, an alarm system, and I've never submitted a claim. I have about the same square footage as above and I'm paying $1,300.

[scamutz]

I just got a quote for a client on a 3400 sf living home, ($525,000) in Brooksville, FL at $2600/year.

[Jammie]

Quick Question~If you don't have a mortgage, can you just insure your home for liability and personal possessions? It just seems SO expensive to have those high insurance bills. (I'm from out of state so I really don't know the answer to this)

[Karla with a K]

2106 sq ft in Jacksonville home value $350k
We are paying USAA $879 a year
Karla

[pslOldTimer]

Originally Posted by Jammie

Quick Question~If you don't have a mortgage, can you just insure your home for liability and personal possessions? It just seems SO expensive to have those high insurance bills. (I'm from out of state so I really don't know the answer to this)

I'm interested in a definitive answer to this question, but I haven't actively pursued it yet. Some sources say that no insurance company will sell you a policy minus the wind damge clause, another source I read somewhere said that the state required insurance companies to offer only a total package. I do know that the state this year raised the amount of wind damage deductible that a person can choose from 5% max to 10%, but that's still a long way from 100% (no wind damge insurance at all).

On the other hand, I read a newspaper article in which the reporter's research indicated that some insurance companies will sell what they call "named peril" insurance, where you build up a list of specific perils for which you will be insured, and not be charged for any others. However, the article said that such policies tend to be expensive.

When completed, our new house will be 50 miles from the coast, exceed all hurrucane codes and be poured concrete construction, and will be able to resist any hurricane that is similar to the worst the area has ever seen with only minor damage. We have already been in the center of 3 hurricanes in the past 2 years in an older house (1979) located only 10 miles from the coast, and the worst damage we had was partial stripping of the roof shingles (which were far from new). This is alfter 32 years of living in that area with no damage. The total of about $15,000 spread over 34 years is a heck of a lot less than the insurance costs.

If I can find an insurance company who will go along, I will have only liability and fire insurance on the new house, my biggest concern after liability is actually the contents of the house.

[kimwick]

Live in Pasco paying $5800 for a home built in 87 and is 2140 sq. I am 4.67 miles from the gulf. Never had a claim. Have State Farm. My insurance went up 248%. This is a total joke. We are getting ripped off here in Fla. Something has to give. You know how many people are dropping insurance all together. It is a scary thought. Live on 2.14 acres house was assest at 150,000

[elfyum]

Are we talking HOME OWNERS or WIND (hurricane) ins?!
We just paid $1300 for HOMEOWNERS & $2100 for WIND. (& $300 for FLOOD)
We're in Dade - east of 95, 3/2, 1300 sq ft, built in 1954, technically uninsured -
the appraised value was 130k but went up to about 175k but we left the coverage the same.
(mortgage was 160k, house 200k)
If we didn't have a mortgage, we wouldn't have insurance!!!
(Although if we had enough $ to not have a mortgage, why not pay for ins just incase?!
Then again if we had enough money, why not take our chances?! )

[SunshineState]

Originally Posted by myfask

2106 sq ft in Jacksonville home value $350k
We are paying USAA $879 a year
Karla

Just curious who you are insured with?