Cost of Home insurance vs Auto insurance (Lakeland, Sarasota: sale, mortgages)

[MortonR]

That and understand that the new owner will see an increase in their property taxes due to a new assessed value and likely an increase in homeowner’s insurance as well.

RM

[Andre D]

On a market value basis, the homeowners insurance premium is around 0.3% where I live in Maryland versus Tampa which seems around 1.2%. That's a huge difference maybe attributable to more common natural disasters in Florida like hurricanes, tornados and sink holes? Really, in Maryland there are no material natural disasters to worry about.

[OneMainPoint]

The more people move to FL, risk increases

The more houses built next to each other, like about 20 ft, the higher the rate is going to be becuase of risk
There are too many people moving to the Bay area, period. Crowded roads, bad drivers, too many attorneys too many lawsuits.

[sinatras]

Originally Posted by OneMainPoint

There are too many people moving to the Bay area, period. Crowded roads, bad drivers, too many attorneys too many lawsuits.

This ^^^^^^^^^^^^^^^^

[Kluch]

Originally Posted by sinatras

This ^^^^^^^^^^^^^^^^

I feel like everyone who's moving to Florida these days (ourselves included) are thinking to themselves about every other person who's considering moving to Florida "please don't move and drive up the prices more!"

[mrviking]

Originally Posted by Kluch

I feel like everyone who's moving to Florida these days (ourselves included) are thinking to themselves about every other person who's considering moving to Florida "please don't move and drive up the prices more!"

Then 6 months after they buy their house they start complaining about the roads being too crowded.

[hokiepoke]

My home insurance of 10 yrs just notified us they're dropping our policy due to all the ongoing roofing fraud and gave me 30 days to find new insurance. I got a new quote from new insurance Citizens with the value of the home on the original policy at $325k increased to the "new" value of coverage for $550k. Needless to say it cost a bit more than what I was paying. Also comes with the caveat that if Citizens ran out of money on the next big hit claims in Florida, they have the right to up the premium 45%. Or I can consider the next private insurance at about $1500 more. It's nice to be offered choices lol.
I moved here 10 years ago, pretty sure I wouldn't be able to afford to move here today.

[sinatras]

Originally Posted by mrviking

Then 6 months after they buy their house they start complaining about the roads being too crowded.

As I said in another post, Florida is a state that will always be chock full of complainers. Because it attracts so many transplants and the vast majority of transplants complain that Florida is not like where they came from, from the food to the roads to the schools and everything in between.

[LKJ1988]

Originally Posted by hokiepoke

My home insurance of 10 yrs just notified us they're dropping our policy due to all the ongoing roofing fraud and gave me 30 days to find new insurance. I got a new quote from new insurance Citizens with the value of the home on the original policy at $325k increased to the "new" value of coverage for $550k. Needless to say it cost a bit more than what I was paying. Also comes with the caveat that if Citizens ran out of money on the next big hit claims in Florida, they have the right to up the premium 45%. Or I can consider the next private insurance at about $1500 more. It's nice to be offered choices lol.
I moved here 10 years ago, pretty sure I wouldn't be able to afford to move here today.

It will get cheaper again stan once things crash.

[sinatras]

Originally Posted by hokiepoke

My home insurance of 10 yrs just notified us they're dropping our policy due to all the ongoing roofing fraud and gave me 30 days to find new insurance. I got a new quote from new insurance Citizens with the value of the home on the original policy at $325k increased to the "new" value of coverage for $550k. Needless to say it cost a bit more than what I was paying. Also comes with the caveat that if Citizens ran out of money on the next big hit claims in Florida, they have the right to up the premium 45%. Or I can consider the next private insurance at about $1500 more. It's nice to be offered choices lol.
I moved here 10 years ago, pretty sure I wouldn't be able to afford to move here today.

Yep, tale as old as time. The property insurance situation here is forcing many people to flee the state.