Home Owners Insurance (living, water bill, homeowner)

[SJNE17]

Good!

It pays to do the homework, and have your agent triple check things. Demand to see the reports/outputs that they use to underwrite.

Originally Posted by SoFLGal

Yes, we are above 14'. And yes, the new company thinks that the old company possibly wrote the policy as being under 14'.

It's now in FEMA's hands to determine what the issue is.

Regardless, the new company is about $2k cheaper for the same homeowners policy. The jury is still out on the flood.

[Trbl39]

Krnfitz, don't understand how you are saying Tower Hill was higher than Amberg. Amberg is a broker . I got my insurance thru Amberg, last year they got me with Federated and this year with Tower Hill. I just have them hunt down who is the cheapest for the same coverage.

[Harbor Hopper]

Originally Posted by SoFLGal

The jury is still out on the flood.

Any update?

[MikMal]

I had an interesting experience with our flood insurance. Our rate this past year had gone up significantly. Upon looking over the policy I noticed that I never changed my residency to down here; we were still listed as a vacation, or second home. I called the insurance broker and the adjusted rate was hundreds less. It got me thinking; What does it matter whether it's a primary or second home...if it floods, it floods! Whether or not we're here! I didn't see anything in the binder saying I had to construct a dyke (not being non-PC...C-D wouldn't let me spell it with a "i" instead of a "y") around the house if flood waters start raising.

[sunshinewi]

When we were looking for insurance for our Fl home, our agent told us that if no one was living in the home full time insurance was higher because no one is home to notice when things go wrong, no matter what the problem.
Our vacation home is rented out and a pipe burst under the floor. Because we had renters, they noticed some dampness. But still, by the time they noticed damage exceeded $10,000. Our flood insurance paid most of it. Until this happened, I thought flood = hurricane. We probably wouldn't have known until our water bill came and by then damage would have been much higher.

[Harbor Hopper]

Originally Posted by MikMal

What does it matter whether it's a primary or second home...if it floods, it floods!

It matters because if you live in it year-round, you have the ability to take certain measures to minimize the flood impact to the home and/or it's contents. If you are up north, whatever happens happens.

[Travelassie]

Originally Posted by MikMal

I had an interesting experience with our flood insurance. Our rate this past year had gone up significantly. Upon looking over the policy I noticed that I never changed my residency to down here; we were still listed as a vacation, or second home. I called the insurance broker and the adjusted rate was hundreds less. It got me thinking; What does it matter whether it's a primary or second home...if it floods, it floods! Whether or not we're here! I didn't see anything in the binder saying I had to construct a dyke (not being non-PC...C-D wouldn't let me spell it with a "i" instead of a "y") around the house if flood waters start raising.

LOL, I thought the "non-PC" version of that word had the "Y" in it.

[1dobiedude]

As I will be looking for insurance in the next few days, I am wondering if anyone has updates to this info.
thanks
Clint

[SoFLGal]

Yes, I do. Parquette spoke with the flood insurance provider at length and there was a small detail that they just weren't going to wave. My flood ended up at the higher rate but my homeowners was way, way less then all of the other quotes I got and I shopped around.

So, in the end I went with Parquette for insurance because of the better rates and superior companies that the policies would be written with. As I said before, I have been talking with Kim Wilson.

[1dobiedude]

Thank you very much. I will call her.