Cost of Home Insurance (Melbourne, Cocoa: car insurance, mortgage, new home)

[Carrie8038]

Looking at moving to the Melbourne/Viera area but I'm concerned with it being on the coast, that the cost of home owner's insurance is going to be really high. What are we looking at for insurance and is hurricane insurance included or is it a rider to your policy?

[Rabflmom]

Originally Posted by Carrie8038

Looking at moving to the Melbourne/Viera area but I'm concerned with it being on the coast, that the cost of home owner's insurance is going to be really high. What are we looking at for insurance and is hurricane insurance included or is it a rider to your policy?

We pay about !$1400 for ours on the maineland about 8 miles from ocean, fire hydrant on next lot, fire station within 2 miles, home built in 1989 (1560 square foot), concrete block home, shingle roof, $90,000 on structure, $100,000 liability, & $80,000 contents. Out of pocket is $500 for fires and damages not caused by hurricane. . Hurricane deduction is 3-5% on most insurance depending on price of home or something like that. Every policy also has a charge for hurricane to help cover the Florida Citizens insurance that the people on the coast get since all the national companies have deserted the state almost. You will also have a hurricane fee on car insurance, and FPL I think Then you have to buy flood insurance to cover water coming in which is about $300-400. Other people have said theirs was cheaper even on the coast but I wasn't able to get anything lower.

[Carrie8038]

Originally Posted by Rabflmom

We pay about !$1400 for ours on the maineland about 8 miles from ocean, fire hydrant on next lot, fire station within 2 miles, home built in 1989 (1560 square foot), concrete block home, shingle roof, $90,000 on structure, $100,000 liability, & $80,000 contents. Out of pocket is $500 for fires and damages not caused by hurricane. . Hurricane deduction is 3-5% on most insurance depending on price of home or something like that. Every policy also has a charge for hurricane to help cover the Florida Citizens insurance that the people on the coast get since all the national companies have deserted the state almost. You will also have a hurricane fee on car insurance, and FPL I think Then you have to buy flood insurance to cover water coming in which is about $300-400. Other people have said theirs was cheaper even on the coast but I wasn't able to get anything lower.

Thanks for responding. You mentioned you are 8 miles from the ocean, does your proximity to the beach affect your rate? If you were 15 miles from the beach would that make a difference than your current 8 miles or 5 miles from the beach?

Your premium rate is much lower than I expected to hear. I have heard many people tell horror stories about how high insurance is along the coast, but your rate is only about $500 more per year than what we pay and we are in the PNW where the most violent weather we get is heavy drizzle!! LOL Well that may be exaggerating a bit, but not by much.

I'm not surprised there's a hurricane fee for car insurance although I've never heard of it. That's interesting.

By the way, I noticed you're on the Disboard too! I guess it's a small world after all!! LOL

[Carrie8038]

Originally Posted by jennifersmith17

When you take any home insurance policy then check that it provides you all the coverage or not. Read all the information and if required take help from insurance agents. Most of the companies provide insurance for area that is prone to floods and other calamities. Cost of insurance increase more the coverage you take. But if you want to protect yourself, then make sure that your home insurance provides you full coverage.





Home insurance plans

Thanks for the advice!! : )

[Rabflmom]

Originally Posted by Carrie8038

Thanks for responding. You mentioned you are 8 miles from the ocean, does your proximity to the beach affect your rate? If you were 15 miles from the beach would that make a difference than your current 8 miles or 5 miles from the beach?

Your premium rate is much lower than I expected to hear. I have heard many people tell horror stories about how high insurance is along the coast, but your rate is only about $500 more per year than what we pay and we are in the PNW where the most violent weather we get is heavy drizzle!! LOL Well that may be exaggerating a bit, but not by much.

I'm not surprised there's a hurricane fee for car insurance although I've never heard of it. That's interesting.

By the way, I noticed you're on the Disboard too! I guess it's a small world after all!! LOL

It will vary by what you choose to insure. It will vary by when your home was built, what it is built with-wood frame, concrete, etc. . If you are on the island or closer to the river it might be more. because not many companies will even write a policy and they have to go with Citizens or without if they don't have a mortgage that requires it. Being an older home we don't have shutters and hurricane clips on all the roof. I also don't have flood insurance but got a quote of $388 on that from 2 insurance companies( we aren't in a flood plane) I have the city coming out to trench the swale in front of the house next week, though, so hopefully the water standing from past heavy rains this summer won't happen when and if we have a tropical system come through this year. Shutters and the clips are the next expense on our remodel of this old house.
I know if you go inland about 75 miles rates are cheaper but don't know if being 15 miles inland makes a difference or not. A cat 3 hurricane is probably still a cat 3 hurricane anywhere in Brevard when it hits so insurance probably calls it all on the coast. Don't know.....we closed on our house so fast I just had to find quick insurance so we could close. If we really had to tear down and start over I doubt the insurance would be enough. I know the $80,000 contents wouldn't cover what is inside because of my parents experience and my brother's experience when their homes burned.

[Chuck12020123]

I tried the on line insurance quote system for a property I'm looking at and for coverage of house and contents it showed a range from $550 to $2,900 which made it totally useless. Just a marketing scam I guess.

[avmiami2]

Does anyone know if shutters have to be installed or roof upgraded on home near Indian River, Cocoa. (1 block)
I want to purchase an old home and the roof has not been replaced in some time.

[Rabflmom]

Originally Posted by avmiami2

Does anyone know if shutters have to be installed or roof upgraded on home near Indian River, Cocoa. (1 block)
I want to purchase an old home and the roof has not been replaced in some time.

Roof needs to be good so probably due a new roof. The insurance on older homes will always be more than a new build. BTW The price of our insurance has gone up to about $2200 since I posted in 2012. Rebuild cost has been upped to $120,000 but the rest stayed the same. We do not have shutters that we can put up on this house and the law only specifies shutters must be included in all new builds.

What we found out in 2004, the surge from the river filled the tennis courts up to the top of the nets a block away. Also boats ended up across the highway. All of our windows on the 3rd floor were broken even though we had plywood on them and a nail from the outside wall of the building ended up across the room leaving a mysterious hole in the wall till we realized it was a nail.

[clnewman]

We recently got a great deal from Progressive by bundling car/home insurance. Homeowners+hurricane dropped from $2,400 to around $1,950. Our roof is new (replaced just a year ago). Dwelling coverage is $290k. Deductibles are: Hurricane-2%, all other perils-$2,500. We're about 100yds from Sykes Creek on one side, and 1/4 mile from the Banana River on the other.

[TN Tin Man]

Need to find a costal zone chart.. this will show the zone and how they compute the insurance. This all changed after the Hurricane season of 2004 -- 2005 and also what is required for new home construction per zone.