Finding a home without deed restrictions.....

[Linn310]

What are the insurance rates going for in that area? Most areas (like Naples) that I looked into, the taxes on a home go for around $4500 & the "wind" insurance adds another $4500. People have told me it's really hard to get flood insurance. Does that sound about right for the Venice area? As I started looking at homes in Venice, I noticed that taxes weren't as high as alot of other areas...basically around $2500...is that correct?

[Skunk Workz]

Originally Posted by Linn310

What are the insurance rates going for in that area? Most areas (like Naples) that I looked into, the taxes on a home go for around $4500 & the "wind" insurance adds another $4500. People have told me it's really hard to get flood insurance. Does that sound about right for the Venice area? As I started looking at homes in Venice, I noticed that taxes weren't as high as alot of other areas...basically around $2500...is that correct?

Taxes are going to depend upon the millage rate of the city / county that the house is located in, and of course the value of the property. I would guess that insurance would be the same all over FL, but will vary based on a number of things about the property. These include age (specifically what building code it was built under), type of construction, location, etc. The cost can vary greatly and may or may not be anywhere near the cost of taxes (My insurance is almost 4 times more than my taxes are).

It's not hard to get flood insurance anywhere. It's mandated if you are in a flood zone, and you won't have any choice in the matter (as long as you have a mortgage).

[=^..^=]

Originally Posted by tommy-105

The age of a house is VERY important. Older homes were not built to today's much tougher codes and will not hold up as well in a storm. This fact will result in higher insurance rates, as well.

What age home should we be looking at? Give me a rough idea.

[Randy Forbes]

Most recent hurricane standard revision was homes permitted to be built 2007 and newer.

I've been led to believe that is the latest revision, and included impact-resistant glass windows.

There are other things to be concerned on newer construction though, not the least being corrosion/breathing issues from the out-gassing of Chinese drywall.

Do your homework

[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.

Here's website that talks about insurance that may be of help: Compare Homeowner's Insurance Rates

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.

[KathyA11]

Originally Posted by Skunk Workz

I would guess that insurance would be the same all over FL,

Insurance rates vary by county due to risk factors. Your rates will be much lower in Marion County, for instance, than if you lived in one of the counties along the coast.

Compare Homeowner's Insurance Rates (maintained by the State of Foorida) will give you an idea of what different companies are charging in the different Florida counties.

We're in unincorporated Dunnellon and we're not paying anything near what you are -- less than $900 annually for a house built in 2006, with $500K liability. It's less than what we paid in NJ for a older, smaller house with lower liability.