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Old 04-24-2012, 05:13 PM
 
25 posts, read 61,708 times
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Anyone care to share what they are currently paying for home owners in the Miami-Dade area? I understand that distance from coastline, flood zones, hurricane protection, etc... are all variables; however, insurance quotes sites for HO suck and I want to get a real feel from people who actually make the payments every month.

Home Cost: around $175,000
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Old 04-25-2012, 08:10 AM
 
Location: Miami
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Like you already said, so many things go into the cost of what someone pays for insurance. Let's say you are looking for a $175,000 home in West Miami, located in the best rated flood zone, with hurricane protection. I would guess around $3-4,000. Now this is a guess, so many things factor into price. I've heard that you can use the 2% rule to give you a ball park of what it will cost you. So 2% of 175K is $3,000.
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Old 04-25-2012, 11:18 AM
 
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On thing to keep in mind is that the insurance companies base their quotes mainly on the value of the structure (house) and not the total value of the property (house and lot).
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