[pianogal]

According to an article in Forbes dated March of 06, Florida is the 4th most expensive state for Homeowners Insurance. The breakdown is as follows:

Texas Average Annual Premium: $1,328
Texas is one part Louisiana and one part Oklahoma; that makes for a perfect storm of hurricanes, tornadoes and hail.

Louisiana Average Annual Premium: $975
This Southern state has a high proportion of poor structures that are easily damaged. Combined with the fact that some areas are below sea level, that makes the Bayou a tough place for insurers to make a profit.

Oklahoma Average Annual Premium: $925
Twisters roll across the plains from time to time, but it's the lesser, more frequent windstorms that mainly keep costs high.

Florida Average Annual Premium: $810
Strict building codes that keep homes more structurally sound prevent even higher premiums in Hurricane Central.

District of Columbia Average Annual Premium: $806
Washington has a dense population with plenty of unstable structures. It’s also considered by insurers to be at a higher risk for terrorism.

Mississippi Average Annual Premium: $793
Covering damages from wind and falling trees costs a lot--and Hurricane Katrina's floodwaters aren't even covered.

Kansas Average Annual Premium: $772
Remember The Wizard of Oz? Tornadoes tear across the plains here, devastating homes.

Colorado Average Annual Premium: $762
A Rocky Mountain high costs more than ever; lots of new construction in the fast-growing Denver-Boulder metro area has kicked up home prices and insurance costs. Meanwhile, summer thunderstorms can bring golf-ball-size hail.

California Average Annual Premium: $753
Earthquakes are covered separately, but in this natural-disaster-prone state, a mudslide isn’t just a tasty cocktail. Coastal cities like San Diego are subject to storms from the ocean on one side and inland brush fires from the other.

Minnesota Average Annual Premium: $733
Farm buildings have a habit of collapsing under the weight of snow, and homes that suffer snow damage tend to be more expensive than those in North Dakota or Idaho.


I know alot of people in Florida are paying much more than 810 for their insurance - I know I'm paying almost double that, but this is a state wide average. Thought it was interesting

[sunrico90]

My insurance is $1,500.00 and is not bad at all. But the more feedback we get does make Florida look a lot better....

[MrTudo]

We're looking at making an offer on a house in the panhandle, 1.1 miles from the gulf and are awaiting an insurance quote to help us come up with an appropriate number.

The prop taxes on a house ( asking price is 300K ) that has an assessed value are $3200.00

Not cheap

[Jammie]

Those numbers kind of surprise me. Does the 810 for Fla. include hurricane and flood insurance, too or is it just the basic insurance?

[pianogal]

Originally Posted by MrTudo

We're looking at making an offer on a house in the panhandle, 1.1 miles from the gulf and are awaiting an insurance quote to help us come up with an appropriate number.

The prop taxes on a house ( asking price is 300K ) that has an assessed value are $3200.00

Not cheap

That's not cheap, but cheaper than here in Orlando. Here in Central Florida that 300K house would have taxes of 6K - or about $5500.00 if you qualify for homestead. The $3200 for 300K home is about the same millage as the properties we looked at in Greenville, SC and North Georgia.

[MrTudo]

North Ga is beautiful. However we own a web company and it's absolutely imperative that we have cable internet.

That's not available in N Ga. Lots of places up there are still sitting up watching heehaw on satelite thinking they're really evolved

I agree that the cost isn't bad ( for todays new rates )

[pianogal]

Originally Posted by Jammie

Those numbers kind of surprise me. Does the 810 for Fla. include hurricane and flood insurance, too or is it just the basic insurance?

Jamie, I'm sure it includes hurricane, but probably not flood insurance because most people don't buy it unless they are in a flood plain and then it's extra $$ - although usually not much more, about 300.00 I think. I think you were going to rent anyway so it wouldn't be an issue. If you do decide to buy just make sure it's not in a flood plain. That's something I wouldn't want to deal with - especially here in Florida. We get enough water with our thunderstorms, etc.

Insurance is a big issue here in Florida and 810 is quite reasonable. Most people I know pay much more than that. I paid $900 a year on my old home for many years BEFORE the hurricanes on '04. Since our new home was built to the latest hurricane codes we got a price break on it and only paid $700 until our company moved out of state - now we're paying $1600. However we get a 1K break because of the new home. If we were insuring an older home our rates would be $2600.00! Absurd in my opinion! Especially since we are in the center of the state!

[Jammie]

Pianogal, I agree. Those prices are quite high for your location. Bro's insurance went up 40% this year, too. So are the people who post that they have to pay 10,000 a year living on the coast? Is that what would make the big difference?

[pianogal]

Originally Posted by Jammie

Pianogal, I agree. Those prices are quite high for your location. Bro's insurance went up 40% this year, too. So are the people who post that they have to pay 10,000 a year living on the coast? Is that what would make the big difference?

Yes, I can't imagine they would have to pay those kind of prices unless they have very expensive homes OR are on the coast.

[BlueWillowPlate]

Originally Posted by pianogal

Jamie, I'm sure it includes hurricane, but probably not flood insurance because most people don't buy it unless they are in a flood plain and then it's extra $$ - although usually not much more, about 300.00 I think. I think you were going to rent anyway so it wouldn't be an issue. If you do decide to buy just make sure it's not in a flood plain. That's something I wouldn't want to deal with - especially here in Florida. We get enough water with our thunderstorms, etc.

Insurance is a big issue here in Florida and 810 is quite reasonable. Most people I know pay much more than that. I paid $900 a year on my old home for many years BEFORE the hurricanes on '04. Since our new home was built to the latest hurricane codes we got a price break on it and only paid $700 until our company moved out of state - now we're paying $1600. However we get a 1K break because of the new home. If we were insuring an older home our rates would be $2600.00! Absurd in my opinion! Especially since we are in the center of the state!

Good advice to Jammie (and me!) and I agree that someone near the center of the state should not be paying what a coastal dweller does. Thank you for posting this thread, Pianogal, even though these are just averages, it's still interesting.
I well remember those Colorado hailstorms. They would turn our backyard into pesto. We got a new roof out of one of them.