Hurricane Insurance/Sarasota area (Miami, North Port: home owners insurance, mortgage, new)

[Debidew]

Does anyone know what the latest is on housing insurance and taxes? We left Florida in 2005 and that was just after the three hurricanes and insurance was skyrocketing. We've been told that if you live coastal that insurance is almost impossible and if you can get it, it is out of most peoples price range. That's hard to understand since there are a lot of people who love living there and I can't believe if it was so unreachable, people would be exiting quickly. Also, the housing taxation is rumored to be very high. We would love to come to the West coast area and have vacation in that area for years but scared now we couldn't be able to afford it. Any feedback would be very appreciated from people in that area.

[coastal chic]

There is a recent post here in the Ft. Myers area about this topic. There is some good info here, and rates would be about the same in both places.

//www.city-data.com/forum/fort-...insurance.html

[SoFLGal]

You might find this website helpful: Compare Homeowner's Insurance Rates

This website explains how you will be taxed in Sarasota county: Ad Valorem Taxes and Non-Ad Valorem Assesments

[d4g4m]

Basically, wind insurance is based on when the house [upgrade improvements will lower the cost] was built and how close to the Gulf. You also have to consider if the house is in a flood zone and which flood zone.
House built pre 1994 - be sitting when you get the quote and don't have a heart condition and that's if they will give you a quote. House is more insurable and less expensive with each four year building code improvement. Year groups are 94, 98, 02, 06.

[nphomeowner]

The home we just closed on in North Port was built in 2010, not in a flood zone. Homeowners premium for the YEAR is $545. $3400 deductible for hurricanes, $1,000 deductible for all other things. To me that is very affordable. We refused to look at any homes built prior to 2006 knowing insurance rates are cheaper for newer homes.

[coastal chic]

Also, be sure to get a wind mitigation inspection so you can qualify for some of those famous "wind mitigation discounts". You truly can save hundreds, if not thousands on your premium. The only homes that usually don't benefit much are those built after 2002 since they are already getting the maximum mitigation discounts. Only a hip roof will improve your rate at that point.

[SoFLGal]

Here are some things that insurance agents take into consideration-the age of the home, style of roof(hip roof is best), how close the home is to a natural body of water or fire hydrant, how the roof is tied on, if the home has hurricane shutters or impact resistant glass, if the home has a Miami-Dade rated garage door, if the home is frame or block. These are just a few of the criteria they use to give an insurance quote. There are more but these are some of the biggies.

Another thing that's important to look at when talking insurance is the www.MySafeFLoridaHome.com program. It's important to have a wind mitigation report done on the home. This usually costs around $150 and some home inspectors include it in the home inspection for free. I'll give you an example of how this can effect your insurance. I live in North Port (southern Sarasota county). My home was built in 2003, has hurricane shutters, 2127 under air, hip roof, concrete block, close to a fire hydrant, no pool. Before the inspection my insurance was $1987 per year and after the inspection it was $727. Big difference.

Then you have flood insurance. 95% of North Port is not in a flood zone. There is a very specific area that is. The other areas of Sarasota and Charlotte county would be hit or miss. Generally west of US 41 and on the islands would be more likely to require flood insurance. The only way to determine the amount of the insurance is to have an elevation certificate. This would show the elevation of the home and what flood zone the home is in (if any). If the previous owner had home owners insurance and had a mortgage they probably have an elevation certificate. I always recommend getting flood insurance even if your home is not in a flood zone. If it's not, the price would be much cheaper for the insurance.

[coastal chic]

SoFLGal, since you have a 2003 home, I would assume you had a Miami-Dade impact-rated garage door, full shutters (they weren't required in 2003) and a hip roof in order to get those huge mit discounts! Normally we don't see that big of a difference in a new home. Even homes that have shutters on all windows, normally do not have a Miami-Dade IMPACT rated garage door as they are NOT required by code, even today!

NOTE TO ALL: When replacing your garage door, ask for a "Miami-Dade County IMPACT RATED DOOR". They are a couple hundred $$ more, but well worth it!

[SoFLGal]

Originally Posted by Edgewater Homes

SoFLGal, since you have a 2003 home, I would assume you had a Miami-Dade impact-rated garage door, full shutters (they weren't required in 2003) and a hip roof in order to get those huge mit discounts! Normally we don't see that big of a difference in a new home. Even homes that have shutters on all windows, normally do not have a Miami-Dade IMPACT rated garage door as they are NOT required by code, even today!

NOTE TO ALL: When replacing your garage door, ask for a "Miami-Dade County IMPACT RATED DOOR". They are a couple hundred $$ more, but well worth it!

Excellent point! Yes, I do have a Miami Dade garage door. Makes a big difference on the wind mitigation.

[41mag]

we live in the bradenton area (county ) 2006 house 3900 sq. ft low valued at 450000.00 premium is 1265.00 optional flood 200000.00 coverage 100000.00 personal property is 365.00