Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Florida > West Palm Beach - Boca Raton - Boynton Beach
 [Register]
West Palm Beach - Boca Raton - Boynton Beach Palm Beach County
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 02-11-2022, 07:03 PM
 
3 posts, read 5,830 times
Reputation: 10

Advertisements

Any referrals for condo insurance in Florida?

Why are insurance premiums so high in 2022?
Reply With Quote Quick reply to this message

 
Old 02-11-2022, 10:52 PM
 
Location: Gainesville, FL; formerly Weston, FL
3,233 posts, read 3,186,050 times
Reputation: 6446
Quote:
Originally Posted by FloridaUS View Post
Any referrals for condo insurance in Florida?

Why are insurance premiums so high in 2022?
One word. Surfside.
Reply With Quote Quick reply to this message
 
Old 02-12-2022, 08:20 AM
 
5,424 posts, read 3,482,156 times
Reputation: 9089
How old is your condo? My ex-insurance company was charging me for excessive windstorm and hail damage because they didn't take into account the fact that my condo was newer. Once I looked into why my insurance went up by $800 a year, I found another agent who noticed this error and my premium went back down. I PM'd you the agent's info.
Reply With Quote Quick reply to this message
 
Old 02-12-2022, 10:47 AM
 
3 posts, read 5,830 times
Reputation: 10
Based on realtor.com, it was built 1986. I will check the legal documents. Thanks for the contact. Received.
Reply With Quote Quick reply to this message
 
Old 02-12-2022, 02:23 PM
 
5,424 posts, read 3,482,156 times
Reputation: 9089
My condo is in Miami-Dade and was built in 2009 so it is considered "newer". I don't know if 1986 is newer but contact the agent I used, he was easy to deal with and answered emails/calls very quickly. Good luck!
Reply With Quote Quick reply to this message
 
Old 02-12-2022, 03:04 PM
 
1,333 posts, read 2,197,769 times
Reputation: 2173
1986 is a bad year. Approaching the 40 year mark where they find lots of structural concrete problems and big money assessments like in Surfside. Also, there's legislation to change the inspections to 20 years and every 10 years thereafter statewide for recertifications so owning a condo is going to just get really expensive especially older ones that don't have the best maintenance history.
Reply With Quote Quick reply to this message
 
Old 02-13-2022, 03:20 PM
 
17,280 posts, read 21,998,333 times
Reputation: 29586
Quote:
Originally Posted by FloridaUS View Post
Any referrals for condo insurance in Florida?

Why are insurance premiums so high in 2022?
My agent is a buddy, I usually have dinner with him once a week.

He says if your policy renews at 20% hike or less, pay it in full and be grateful.

Insurance is crazy right now for many reasons, Surfside, then building costs are climbing so your $10,000 kitchen fire last year might cost $14,000 to fix next year (inflation/labor costs).
Reply With Quote Quick reply to this message
 
Old 02-14-2022, 09:06 AM
 
8,005 posts, read 7,211,328 times
Reputation: 18170
I'll be shocked if renewal premiums for master policies on older highrises don't skyrocket this year. That will come on top of expected flood policy increases after April 1. Owners of units in older buildings need to get ready to pony up cause the piper is going to be demanding a check.

Anyone who doesn't like their condo fee right now should be prepared to really not like it by years end.
Reply With Quote Quick reply to this message
 
Old 02-16-2022, 12:48 PM
 
17,280 posts, read 21,998,333 times
Reputation: 29586
Quote:
Originally Posted by 1insider View Post
I'll be shocked if renewal premiums for master policies on older highrises don't skyrocket this year. That will come on top of expected flood policy increases after April 1. Owners of units in older buildings need to get ready to pony up cause the piper is going to be demanding a check.

Anyone who doesn't like their condo fee right now should be prepared to really not like it by years end.


Flood rates were redone Oct 2021 so the increases are coming up now on most renewals
Reply With Quote Quick reply to this message
 
Old 02-22-2022, 07:33 AM
 
20 posts, read 27,507 times
Reputation: 57
I'm moving into King's Point next week, and my homeowners insurance with Kin Insurance is $1250 a year. That's cheaper than insurance on my Margate condo has been.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Florida > West Palm Beach - Boca Raton - Boynton Beach

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top