Cost of Insurance In Florida? (Cape Coral: homeowners insurance, house, construction)

[JennySquirrel]

Is the Homeowners Insurance still outrageous? Say I want to buy a $250,000 home. Can you give me an idea of what it will cost to get into the home and what the Insurnace rates will be? Isn't there inpact fees? etc?

Thanks!

[verobeach]

It depends on so many different factors such as the age of your house, cement block or wood, hurricane shutters, proximity to the beach, etc., etc., etc. We live in a zip code where all of a sudden we're being solicited by insurers who want to cover our house. Last year we were getting canceled.

[wbowley]

Like verobeach said, there are so many factors to take into consideration that it would be difficult to give a good estimate. Proximity to the coast, whether or not you're in a flood zone, house construction, etc. all make a difference. In addition, you can get discounts for having a hurricane mitigation inspection.

[JennySquirrel]

well what if we live in Cape Coral?

[SoFLGal]

Here's a good website for home insurance. Like everyone else said, there are a lot factors that go into determining the rate i.e. age of the roof, age of the home, proximity to nearest fire hydrant, etc.

[Bette]

You only need dwelling coverage - replacement cost - new. You will not need to cover the land.

If the home is $250,000, then your dwelling coverage would be around $160,000 give or take.

And yes, if you have hurricane shutters, HIP roof, age of roof and alarm system - those will lower the quote. Also, the age of the home comes into play as well.

I have dwelling coverage of $378,000 and I pay $2960 per year FYI.

I just checked the website above but my insurance company (State Farm) shows I should be paying $7092 per year. My rate was close to that for 2 years, however, with my new roof (2003), HIP roof, alarm system monitoring and hurricane shutters, it was brought down to the $2960 per year which is close to the amount I used to pay.

[JennySquirrel]

Thanks! That's not too horrible. Now could anyone tell me what the "assesments" on homes means? I keep seeing ads saying " assements already paid" what does that mean?

Thanks!