[markjames68]

Originally Posted by Momma_bear

How do you get homeowners insurance for $450 per year in FL?

I was in Stamford from 1988-1995 and in Westchester from 1995-2000. When we lived in Westchester we had a 2500 sf colonial. We sold it for $368K in 2000. Our homeowners was $600 per year.

When we moved to Broward we bought a home for $375K in 2000. Our homeowners, was around $2,500. It was about 4X the price.

Flood insurance is ~$450 a year in Zone "X". Homeowners to my knowledge NEVER includes flood insurance.

If the home you bought in Broward didn't have many wind mitigation credits (roof ties, hurricane windows, hip roof, etc.) that would explain the cost. I am close to a 100 score with my new home and pay about what you pay for homeowners with a much higher replacement value.

Also, if you left Westchester in 2000 you missed the huge run up in the market. Things are a LOT different in Stamford than they were 20 years ago, and with the increase in home values the insurance costs have kept pace. A small house in North Stamford now routinely goes for $500-600-700K+

Finally, many insurers have left the market in NY/CT - especially for homeowners within a certain distance of the shoreline. I was dropped by State Farm and Allstate and had to go with a more expensive insurer.

[tjarado]

If you don't need a job, or are a doctor, lawyer, cpa, then YEAH, it IS cheap...
Especially if you are retired from the NE corridor or SoCal, as I am, (Long I$$$land).
Oddly, mani-pedis are more expensive here, and possibly home insurance, but housing is a pittance compared to NY, NJ, CT, MA, ... and I mean in a good neighborhood, too.

Plus utilities are way less.
YMMV.

[Momma_bear]

Originally Posted by markjames68

Flood insurance is ~$450 a year in Zone "X". Homeowners to my knowledge NEVER includes flood insurance.

If the home you bought in Broward didn't have many wind mitigation credits (roof ties, hurricane windows, hip roof, etc.) that would explain the cost. I am close to a 100 score with my new home and pay about what you pay for homeowners with a much higher replacement value.

Also, if you left Westchester in 2000 you missed the huge run up in the market. Things are a LOT different in Stamford than they were 20 years ago, and with the increase in home values the insurance costs have kept pace. A small house in North Stamford now routinely goes for $500-600-700K+

Finally, many insurers have left the market in NY/CT - especially for homeowners within a certain distance of the shoreline. I was dropped by State Farm and Allstate and had to go with a more expensive insurer.

A few notes. The house I bought in Broward was brand new in 2000. It had all the credits.

The house I bought in Weston was roughly the same price as the house I sold in Westchester. There were huge runups in price in both places. The same house I bought in Weston for $375K would sell for over $600K today.

Many insurers left the FL market years ago. It's hard to get good insurance when you are new to the state. Our current home is much larger/more valuable than the one we had in Weston and our insurance is roughly the same as we paid in 2000.

Still-anyone moving here from other places needs to understand that insurance costs here are significantly more expensive than it is in most places

[Elbig]

Originally Posted by tjarado

If you don't need a job, or are a doctor, lawyer, cpa, then YEAH, it IS cheap...
Especially if you are retired from the NE corridor or SoCal, as I am, (Long I$$$land).
Oddly, mani-pedis are more expensive here, and possibly home insurance, but housing is a pittance compared to NY, NJ, CT, MA, ... and I mean in a good neighborhood, too.

Plus utilities are way less.
YMMV.

Having moved from Boston area, I agree completely. Housing in a good neighborhood is waaay less.

[bigh110]

my 2200 sq ft 1983 built two story house in southern NJ within 2 miles of coastal tidal water is $1400 for flood and homeowners combined it allows $360,000 of rebuild coverage $60,000 of content coverage


my 1967 860 sq ft modular home in lower Florida keys for windstorm is $3100 for flood is $1480 and regular homeowners is $900
for $111,000 max coverage plus 20,000 to raise house to BFE. I have zero $ contents coverage.

Florida costs $4000 more per year for way less coverage. so in my humble opinion it is a tad bit more to insure your home in Florida I am not complaining because my Florida house although not as nice as my NJ home is in a prime location and sits on an open water canal. paradise (too me) costs money its the price you pay for it but to me its worth every penny until i pay it off and drop the insurance on it!!

I have never filed a claim on either house.


these are my 2015 rates

[85rx-7gsl-se]

Comparing insurance on a nearly 50 year old mobile home on an island to a real house on the mainland is really apples and oranges.

[Arcenal813]

Originally Posted by tjarado

If you don't need a job, or are a doctor, lawyer, cpa, then YEAH, it IS cheap...
Especially if you are retired from the NE corridor or SoCal, as I am, (Long I$$$land).
Oddly, mani-pedis are more expensive here, and possibly home insurance, but housing is a pittance compared to NY, NJ, CT, MA, ... and I mean in a good neighborhood, too.

Plus utilities are way less.
YMMV.

CPA? Really?
Average CPA pay isn't really good...

[markjames68]

Originally Posted by bigh110

my 2200 sq ft 1983 built two story house in southern NJ within 2 miles of coastal tidal water is $1400 for flood and homeowners combined it allows $360,000 of rebuild coverage $60,000 of content coverage


my 1967 860 sq ft modular home in lower Florida keys for windstorm is $3100 for flood is $1480 and regular homeowners is $900
for $111,000 max coverage plus 20,000 to raise house to BFE. I have zero $ contents coverage.

Florida costs $4000 more per year for way less coverage. so in my humble opinion it is a tad bit more to insure your home in Florida I am not complaining because my Florida house although not as nice as my NJ home is in a prime location and sits on an open water canal. paradise (too me) costs money its the price you pay for it but to me its worth every penny until i pay it off and drop the insurance on it!!

I have never filed a claim on either house.


these are my 2015 rates

So net-net what that says is that you're in a high-risk flood zone in the Keys and were in a low-risk zone in NJ. A modular home has next to zero ability to survive a Cat 2+ so the risk is a lot higher in a windstorm, which doesn't factor in as a risk in NJ.

Momma_bear's comparison was more like for like.

[markjames68]

Originally Posted by 85rx-7gsl-se

Comparing insurance on a nearly 50 year old mobile home on an island to a real house on the mainland is really apples and oranges.

Exactly.

BTW, love your user name - I had an '85 GSL-SE and it was an awesome car - one with the rare targa-kit roof.

[markjames68]

Originally Posted by Momma_bear

Still-anyone moving here from other places needs to understand that insurance costs here are significantly more expensive than it is in most places

I agree with this statement, and it should factor into anyone's cost of living calculation.