[Copernicus]

DMX,

You are doing a great job with your due dilligence in checking on your Florida homeowners insurance. A lot of people don't bother and wonder why they end up with a mess.

One of the things your research has uncovered is that there are very few AM Best rated companies still writing new business in Florida. And even "A" rated Demotech companies can be very thinly capitalized.

Some of the posts to your messages are sending you to agents, not companies. That's why there are no ratings for them.

Here is a site that will help you sort out the ratings and give you some additional companies to choose from.

Best of luck with your move to Florida!

[lionking]

HERE's a question for you all.

the insurance quoted....is that fire&theft and windstorm combined?Because if it is wow!

When I had my house in Miami last year when I sold(1800sft) my insurance was.........

$1800 fire&theft only......windstorm is a sperate policy

$2300 for windstorm thru the state insurance(which last year had raised $100 more a month than 2006)

$800 flood because I was in a zone.

I know I didn't have as much coverage as you.....so $2500 all combined is a blessing compared to what Miami rates are.

I was suffocating on the amount I had to pay.

[TampaKaren]

As far as I've heard through several insurance brokers, St. Johns is a good and well-respected company and I know several people with their policies. I've also been told that most properties in South Tampa require flood coverage which I didn't see in your quote. Hopefully you are working with a knowledgable, well experienced (in South Tampa) insurance broker. I know a few; if you want their contact info, let me know.

You should receive better than average rates because the home is built to the new construction code. I know that location, square footage and some other factors will have an effect on cost as well.

And though not pertinent in every situation, the State Of Florida has a site for consumers at Compare Homeowner's Insurance Rates.

Welcome to Tampa!

[DMX]

Originally Posted by lionking

HERE's a question for you all.

the insurance quoted....is that fire&theft and windstorm combined?Because if it is wow!

When I had my house in Miami last year when I sold(1800sft) my insurance was.........

$1800 fire&theft only......windstorm is a sperate policy

$2300 for windstorm thru the state insurance(which last year had raised $100 more a month than 2006)

$800 flood because I was in a zone.

I know I didn't have as much coverage as you.....so $2500 all combined is a blessing compared to what Miami rates are.

I was suffocating on the amount I had to pay.

Yes, that is fire, theft and windstorm combined... flood is separate, though.
I guess rates in Tampa are lower than Miami, but I am no expert .

[DMX]

Originally Posted by TampaKaren

As far as I've heard through several insurance brokers, St. Johns is a good and well-respected company and I know several people with their policies. I've also been told that most properties in South Tampa require flood coverage which I didn't see in your quote. Hopefully you are working with a knowledgable, well experienced (in South Tampa) insurance broker. I know a few; if you want their contact info, let me know.

You should receive better than average rates because the home is built to the new construction code. I know that location, square footage and some other factors will have an effect on cost as well.

And though not pertinent in every situation, the State Of Florida has a site for consumers at Compare Homeowner's Insurance Rates.

Welcome to Tampa!

I also did some research on St.Johns,...looks like they are good. Flood is separate. I have to get a quote on that.
Please PM the broker's info. I will see what quotes they can give me.

[TampaKaren]

Originally Posted by DMX

I also did some research on St.Johns,...looks like they are good. Flood is separate. I have to get a quote on that.
Please PM the broker's info. I will see what quotes they can give me.

I DM'd you a couple I've worked with recently. Let me know how it goes. I like getting feedback so that I can help others when/where possible.

[JohnJekyl]

We bought a home in the FL panhandle in early 2007 with the assistance of our State Farm agent. Their guidance taught me a lot about roof types, age of roof, etc., that could affect the insurance amount. I got insurance with State Farm on a $305,000 home for about $2500/year. The rating started at $6000/year, but the discounts really added up. Less than one year later, they informed me that they had changed their underwriting rules and we were being non-renewed. Too close to the water. Apparently they did this en-mass because we got some solicitation letters from local agents. I got one from an Allstate agent (seems reputable, right?) and called them. They quoted me a policy with St Johns for about $1200/year - half the price. I liked it and signed up.

I have not made a claim with them and don't know what will happen if I ever do, but for similar coverage (and probably better than the State's company offers) I am paying a lot less...... For what it's worth.