South Florida Hurricane Insurance (Hollywood, Weston: real estate, renting, homeowners insurance)

[kevinandjane]

I know this topic has been covered but still can't seem to find straight answers.

We have just purchased a property in Ft. Lauderdale and are being told by insurance agents that the only company (in South Florida) that will offer hurricane insurance is state run Citizens insurance. Citizens, as some may know, is inflating replacement values in order to up the premiums. We are looking into obtaining a replacement cost appraisal by a state licensed appraiser, and challenge Citizens figures, to try and bring the replacement cost and thus the premium down.

My questions for you smart folks out there 1) Is that absolutely true that no one else will provide (new) hurricane insurance, any way around this?

and

2) any advice in fighting Citizens to bring the replacement cost valuation down to a reasonable level?

Thank you.

Kevin and Jane

[tankev]

What about Universal?

[SouthAfrica75]

Kevin and Jane

I have been dealing with a company in Hollywood for over 25 years for insurance...... It was a State Farm agent - Ken Finney...... Ken has since retired and his son took over the business and it's now called Nationwide..... Most if not all personnel that worked with Ken, now work with his son.... If they can't give you straight and truthful answers no one will....
They are located in Hollywood at the same location for over 30 years at.... Sheridan Street and 56th Avenue.... If you p.m. me I'll give you their phone number

You could give Florida Peninsular Insurance a call as well and see what they tell you.... Florida Peninsula Home : Florida Peninsula

[jhlcomp]

We just got our renewal (state farm) from 3300 to 10919.00. I can not sleep at night. We have had our home inspected 3 times to reduce our insurance. We have done everything one can to a home to make it hurricane compliant. No claims ever. We live in the bonaventure section of Weston. My husband and I are still shellshocked. We were prepared for an increase but not this. Good luck.

[Rismiller]

Hi Kevin and Jane,

Welcome to South Florida.

Some of what you are being told is true.

If the home that you are buying is east of Interstate 95 most private companies won't cover you, and Citizens may be your only option. However, there are still about 3 companies that "may" cover you depending on where your home is located.

The hardest part about finding homeowners insurance in Florida is that we're all chasing scraps of information - one agent says this, one consumer found this out, here's one good company or one good agent.

I had excellent results using this site to find Florida homeowners insurance in the private market - I'm going to try to avoid Citizens for as long as I can.

Good luck with your search and again welcome!

[sathlin]

Would your advice be then to not buy a home east of i 95?
just curious, not buying anything anytime soon, but planning on renting.
but this is good information to have.

We want to live close to the beach, but if it is very costly especially with home insurance, adding some commute time to the beach is well worth it.

thanks,

Originally Posted by Rismiller

Hi Kevin and Jane,

Welcome to South Florida.

Some of what you are being told is true.

If the home that you are buying is east of Interstate 95 most private companies won't cover you, and Citizens may be your only option. However, there are still about 3 companies that "may" cover you depending on where your home is located.

The hardest part about finding homeowners insurance in Florida is that we're all chasing scraps of information - one agent says this, one consumer found this out, here's one good company or one good agent.

I had excellent results using this site to find Florida homeowners insurance in the private market - I'm going to try to avoid Citizens for as long as I can.

Good luck with your search and again welcome!

[rusty78]

Buyer Beware......for two of the Hidden Secrets in purchasing real estate in Florida is the costs of hurricane/flood insurance and Chinese Drywall......which is usually kept a secret until you start looking for financing......and then every lender will bring it up......my neighbor knew about the hurricane/flood insurance but was surprised about the fee for Chinese Drywall......apparently all new policies written in Florida have a Chinese Drywall add-on due to all the problems it has been causing...

His suggestion...when filling out the offer to purchase agreement with the real estate agent...that you add a comment regarding the availabilty of reasonable hurricane/flood insurance as well as lack of Chinese Drywall...or you could just spend a little more and hire an attorney to protect your next investment...

[Rismiller]

Originally Posted by sathlin

Would your advice be then to not buy a home east of i 95?
just curious, not buying anything anytime soon, but planning on renting.
but this is good information to have.

We want to live close to the beach, but if it is very costly especially with home insurance, adding some commute time to the beach is well worth it.

thanks,

If you buy a home East of I95 you'll be located in what is known as the Citizens Wind Only zone.

I'm not an agent but you'll find that you have fewer options and in many cases may have to buy Wind coverage from Citizens and coverage for other perils from a private company.

It is not a good situation and Citizens is looking to scale back even further along the coast in this zone which is going to make finding insurance for homes East of I95 even harder to find.

Good luck with your decision.

[PatMirabelio]

For homes along the coast, Frontline Homeowners Insurance is an option. You can get a real homeowners quote and have it forwarded to an agent near where you are located. Their website is Homeowners Insurance for Coastal Homes in Florida and South Carolina and you can quote your coastal home at Frontline Homeowners Insurance