South Tampa Insurance (rent, condo, townhome)

[jdvalle]

Can anyone please give me a ballpark figure for what insurance and taxes would cost on a 350-400K home/townhome/condo in Palma Ceia or Hyde Park??

I've searched the forums, but there are very few numbers thrown around... most people suggest getting quotes from the companies, but this requires a lot of info. I just want an approximate idea of what people are paying on top of their mortgaes down there -- especially with the extra flood/hurricane insurance costs I keep hearing about.

Please help. We're trying to plan ahead and see if it would be better to just rent a townhome in So Tampa (longterm), instead of buying, then just invest the difference in cost.

[Dee74]

Sorry can't help you. You really do have to call at least 2 independent agents as they have many carriers and rates are all over the place. If we had not lived/ owned here for years I would most likely rent. At least for the next year for sure.

[Keeper]

Here's a link --> Compare Homeowner's Insurance Rates.

[jdvalle]

Thanks. That website is great.

Only thing is, I'm not sure how that extrapolates to a home of higher value (is it pretty much a linear relationship?). And is it true that South Tampa in particular has much higher insurance than the rest of Tampa??

Originally Posted by Keeper

Here's a link --> Compare Homeowner's Insurance Rates.

[gypsychic]

There is no way anyone but an agent can answer, and it will be different for every individual home. It depends on age, size, type construction, whether or not in a flood zone, type roof, and on and on. You will really have to contact an agent about houses you are interested in.

[jdvalle]

I've now contacted 3 companies who refuse to give me a quote since they are no longer writing new policies in Tampa. A fourth one requires me to use the services of an agent in order to communicate with them.

Basically, it seems like insurance companies won't talk to you if you're just trying to get an estimate. They think I'm not serious or something.

I'm also under the impression that they can increase the premiums pretty much at will. I hear of a lot of people basically forced to move out of So Tampa just because their insurance is skyrocketing.

Renting longterm is starting to appeal to me.

[gypsychic]

Originally Posted by jdvalle

I've now contacted 3 companies who refuse to give me a quote since they are no longer writing new policies in Tampa. A fourth one requires me to use the services of an agent in order to communicate with them.

Basically, it seems like insurance companies won't talk to you if you're just trying to get an estimate. They think I'm not serious or something.

I'm also under the impression that they can increase the premiums pretty much at will. I hear of a lot of people basically forced to move out of So Tampa just because their insurance is skyrocketing.

Renting longterm is starting to appeal to me.

jd - homeowner's is hard to get all over Florida. More and more companies have pulled out, and many of us can only get Citizen's. We live in Manatee County, and I have low costs all the way around except for insurance which is astronomical, as I imagine it will be if you were to purchase an older home in South Tampa. It is true that companies and even agents will hardly just give you an estimate on anything unless you are writing a contract on a specific house.

Good luck to you.

[rtjr]

2,000sf home in Virginia Park built in 1990 valued somewhere in neighborhood of $375-400K: Homeowners is $2,100/year - not including flood insurance which is not mandatory. We had no problem getting insurance and our premiums have actually dropped slightly over the past couple of years. I can tell you from experience that obtaining insurance on an older home in South Tampa can be difficult and expensive (but not impossible). And if the home requires flood insurance, that will obviously increase your costs