[kela]

Since we are hoping to buy a part time vacation home in FL, I suppose I need to research this. I know insurance is a lot higher there but was reading a post here that mentioned the insurance crisis being an obstacle for many would be home buyers in FL. Can anyone elaborate on this for me?

In general terms, what is a typical rate for home owners insurance there? Say for a 2-3 bed, 1,000 sq home? (not mobile, but stick built).

Kela

[daniellefort]

it's quite a range depening on where your located. the closer to the coast, the higher it will be. from what others are saying, expect at least between $1000-$2000 or even more. Just make sure before you buy a home, check for insurance rates and make sure you will even be picked up by an insurance company. Many companies down here won't pick up any new policies based on your zip code. My insurance just dropped us starting in August. Been with them 6 years, never a claim but they are just wanting out of the home owner's insurance. I'm having a hard time finding a new company to pick us up. We're about 25 miles inland from the west coast.

[Racelady88]

It is even harder for folks who are not full time residents to get coverage.

A concrete block home with a hip roof will have a lower rate than a wood frame house with a gabled roof. Proximity to water will also impact the rate.

[faithfulFrank]

Yes, it is scary......
I just bought a vacation home in central florida..they kbnow i am not living there yet, it is a wood frasme, gabled roof.
It is insured for just under 200k and the annual insurance is $1300 per year.

I got many quotes, some for less, many for much more. I did have my choice of two or three GOOD policies.

Frank D.

[Songbird42]

If you are not a homesteaded resident you will pay more for coverage, since
Katrina, many insurance companies have left Fl. Citizens is the insurer of last resort, I pay $4,500 for 2007 for a 2,000 sq. ft. home with a pool, with a 2,500 deductible.........I'm 18 miles from any water. Make sure you get sinkhole coverage, there are sinkholes around the state, sinkholes are where the ground opens up and swallows whatever is on it.

Gotta love Florida!!!!!!!

[doggiebus]

Originally Posted by kela

Since we are hoping to buy a part time vacation home in FL, I suppose I need to research this. I know insurance is a lot higher there but was reading a post here that mentioned the insurance crisis being an obstacle for many would be home buyers in FL. Can anyone elaborate on this for me?

In general terms, what is a typical rate for home owners insurance there? Say for a 2-3 bed, 1,000 sq home? (not mobile, but stick built).

Kela

First make sure you buy a concrete block home, not a stick built home. Our Insurance company pulled out of the area totally dropping everyone (never had a claim) so we have Citizens (government run insurance) now, as it is the only insurance available in our area in Miami. We are about 8-10 miles inland, 1,800 sq.ft., pool, 3/2, one car garage and our HOI is $6,000 alone, I think it is going to go down to $5,000 because of the new reforms the legislature just made a few months ago.