Home insurance question (Miami, Lakeland: homeowners insurance, condos, how much)

[JJPNYC]

In SE Florida, is there a price difference in your homeowners insurance if you live in a condo vs. a single-family home? If so, how much of a difference is there? Thanks.

[vpcats]

OK I think I'm pretty sure about this.

Most condos have "associations" (HOA). They cover insurance for the outside structure only. You would need to obtain separate coverage for your condo's contents. These association fees can run very high depending on location, amenities, square footage, and what else may be included - water, cable, etc. Also, whenever anything out of the usual happens, like exterior paint, replacement of anything, asphalting parking areas, new roof, you can get huge assessments.

SFH HOI can be high also and then you either have to take care of everything yourself or hire people for the lawn, pool, pest control, and/or any other maintenance.

[CiXeL]

and they can make you buy resold cable from a cable company they create for the complex. except ours wont answer the phone and noones ever there so we were forced to get directv.

they will also make you only purchase roof tiles from a supplier of their choice while making money on top when you inevitably lose them in a hurricane.

[gregs]

When residing in a condo, the association is usually responsible for the exterior of the building and the common elements of the association. The association holds master policy to cover the exterior and common element, the cost of the insurance premium is included in your maintenance fee paid to the association.

For the protection of your unit, you need a separate policy to cover the interior elements of your unit and your personal belongings. The cost can be a few hundred dollars for an annual policy.

If you are insuring a single family home, the cost can be several thousand dollars. I currently pay $3,500. for my homeowners. Insurance premiums are very costly here in southeast Florida and are not likely to decrease any time soon.

[Floridasunshine]

I am paying 1100 Ho insurance for a 200 new home in Lakeland. My taxes are 2476 this yr.
THis is why i live in lakeland.

[LHBR702]

Can anyone give an example of the range of typical association fees they are paying for condos or attached townhomes in the nicer/safer areas of Miami (greater miami/ft. lauderdale).