New house--homeowner's insurance (Sarasota, Port Charlotte: new construction, cost, floor)

[VA2FL]

I have been looking for homeowner's insurance for a few weeks and have received quotes of around 10k. This seems a bit high to me.
So I am curious, which insurance companies are people using that provide more reasonable rates?

Thanks for any help!

[photoman_6]

sorry, you've given us too much information to make a detailed comment. Please delete some of the extraneous information provided

[macrodome2]

I got insurance on a 2400 sq ft single story concrete block with hip roof built in 2008 non-flood zone for $1200 last year. This year's renewal was about the same. Since you didn't tell us how big, what age, how built, can't really compare.

[Obrero]

Originally Posted by VA2FL

I have been looking for homeowner's insurance for a few weeks and have received quotes of around 10k. This seems a bit high to me.
So I am curious, which insurance companies are people using that provide more reasonable rates?

Thanks for any help!

I think it should be lower. 2k sounds reasonable based on the information provided.

[SoFLGal]

I am insuring through:
Kim Wilson
Vice President of Sales
Parquette & Associates, Inc.
1475 Collingswood Blvd., Suite F
Port Charlotte, FL 33948
(941) 235-7776 Fax (941) 235-3330
kim@parquetteinsurance.biz

I've found her rates to be pretty reasonable when comparing.

[VA2FL]

Sorry for the lack of information. I don't appreciate the smart ass comments...I was just curious which companies people were using and happy with.

Anyways, here is some info:
1. Home is still under construction. So new construction...Concrete block construction.
2. Hurricane windows everywhere.
3. 5500 sq ft
4. Elevated construction (garage floor, then main floor, upper floor, then attic)
5. Main floor is 4ft above base flood. "A" flood zone on Little Sarasota bay. EDIT: "AE" flood zone.
6. Hip roof
7. Anything else?

[VA2FL]

Originally Posted by SoFLGal

I am insuring through:
Kim Wilson
Vice President of Sales
Parquette & Associates, Inc.
1475 Collingswood Blvd., Suite F
Port Charlotte, FL 33948
(941) 235-7776 Fax (941) 235-3330
kim@parquetteinsurance.biz

I've found her rates to be pretty reasonable when comparing.

Thanks!

[beninfl]

Originally Posted by VA2FL

Sorry for the lack of information. I don't appreciate the smart ass comments...I was just curious which companies people were using and happy with.

Anyways, here is some info:
1. Home is still under construction. So new construction...Concrete block construction.
2. Hurricane windows everywhere.
3. 5500 sq ft
4. Elevated construction (garage floor, then main floor, upper floor, then attic)
5. Main floor is 4ft above base flood. "A" flood zone on Little Sarasota bay.
6. Hip roof
7. Anything else?

Smart ass comments are what forums are for, I thought? All jokes aside, welcome to City-Data, 99% of us here are good folks.

Quite frankly, with the specs you listed above, you got a pretty fair rate.

[Obrero]

But look on the bright side. At least that 10k isn't going to go up 25% each year.

[Sunshine Rules]

Actually, newer construction homes in flood zones can still see premium increases. FEMA sets rates each year according to a set of cost analysis criteria. 18% is the absolute annual cap on how high FEMA can raise flood insurance rates per year under the latest revisions to the flood insurance program. However, historically rate increases have been closer to 5% per year.

Remember, the flood insurance program is sitting on a 24 billion $ deficit, which is why the revisions were initially made to the program in 2012. The rate increases of that legislation are not going away under this year's revisions, just being spread out over a longer period of time. But eventually the flood insurance program is supposed to become self sufficient, so anyone who buys a home in a flood zone that wants flood insurance will be contributing to reduce that deficit.