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12-21-2006, 11:16 AM
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Florida & Military Life and Issues Moderator
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Join Date: Aug 2006
Location: Living in Paradise
5,700 posts, read 6,561,826 times
Reputation: 2318
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Quote:
Originally Posted by CURT
i'm not sure i understand whats being said about the 2% dedutible. The deductible is not 2% of the damage the deducible is 2% of the dwellings insured value. if you have 50000 worth of damage, the deductible is not 2% of this. if the coverage on the dwelling itself is say 150000, the 2% is based on that number. the deductible would be 3000. the first 3k of repairs is out of pocket.
is this what you are saying and I'm just not understanding?
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You are correct, normally the deductible is reduced from the overall amount of the insurance payment.  |
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12-22-2006, 11:08 AM
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Straight Shooter
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Join Date: Apr 2006
1,609 posts, read 2,687,740 times
Reputation: 518
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We just bought a home in Florida. We close on it mid-January. Today I set up the homeowner's insurance rates. I don't think they are bad at all....
House value $250k - (insurance for replacement value)
Yearly $1416
with a 2% hurricane deductible
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12-22-2006, 11:12 AM
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Senior Member
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Join Date: Jul 2006
Location: Central FL
1,591 posts, read 1,999,386 times
Reputation: 493
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Redwingsfan, where is your house located and what insurer are you using? Thanks!
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12-22-2006, 06:53 PM
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Senior Member
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Join Date: Dec 2006
2,305 posts, read 1,129,512 times
Reputation: 772
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Stuart Fla.
Assessed house value 346k.....insurance 100%/2%deductible $3000.00....taxes $2200.00 homesteaded. Thanks Mother Nature!!  |
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12-22-2006, 11:00 PM
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Florida & Military Life and Issues Moderator
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Join Date: Aug 2006
Location: Living in Paradise
5,700 posts, read 6,561,826 times
Reputation: 2318
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What about the Daytona area? Anyone from the fast track? |
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12-23-2006, 05:59 PM
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Member
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Join Date: Jun 2006
97 posts, read 120,737 times
Reputation: 37
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House worth 350
Insurance 5800 a year with a 5000 dect. and 5% hurricaine. OUCH PASCO COUNTY FLA
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12-23-2006, 06:06 PM
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Florida & Military Life and Issues Moderator
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Join Date: Aug 2006
Location: Living in Paradise
5,700 posts, read 6,561,826 times
Reputation: 2318
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Quote:
Originally Posted by kimwick
House worth 350
Insurance 5800 a year with a 5000 dect. and 5% hurricaine. OUCH PASCO COUNTY FLA
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If I did my math correctly $17,500.00 is out of pocket  |
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09-10-2007, 06:36 PM
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Junior Member
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Join Date: Sep 2007
Reputation: 10
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what company are these rates with
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09-11-2007, 02:37 PM
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Member
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Join Date: May 2007
54 posts, read 72,427 times
Reputation: 32
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I feel dumb but can you please explain your coverage more?
When you say "house value" 350K, are you talking about the amount of coverage on your dwelling? So if you bought your house for 350K you are paying for a 350K limit? Or are you paying for a 350K limit on a house that you may have bought for a higher price?
Do you also pay for contents/personal property? What value is on that?
Also (1) what age is your house, and (2) is it frame or masonry?
Thanks
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09-11-2007, 03:52 PM
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Senior Member
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Join Date: Jan 2007
718 posts, read 709,946 times
Reputation: 250
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Quote:
Originally Posted by RedWingsFan
We just bought a home in Florida. We close on it mid-January. Today I set up the homeowner's insurance rates. I don't think they are bad at all....
House value $250k - (insurance for replacement value)
Yearly $1416
with a 2% hurricane deductible
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I posted before. I will post again.
Replacement value $350K (4/3/2, pool, 3400 sf)
Yearly ~$1740
$1000 deductible
2% hurricanes deductible
House built in 2005 at Tradition, PSL.
Royal Palm Insurance |
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