Murphjup

Been with State Farm now for 20+ Years and just got my New Homeowners Bill Increased about 60 Percent.... I guess we are lucky to have any...

What about you guys?

billinstuart

I'm with Encompass and it's about $3000, up may 10% for 4000 sq. ft. waterfront....but I'm extremely lucky. Insurance is Florida is a serious problem. 'course state farm was hemmoraging money after the storms....

RI Builder

Bill:

Only 3k for 400 Sq ft waterfront? Wow, even with the Florida increases, I wish I was paying those rates.

__________________
Move along, nothing to see here.

r.waddill

You must be living right. I paid more than that when we lived on the water in Pompano in 1900sqft built in '66. Live in Stuart now very near the water not it in 1700sqft and our rates went from 1400.00 per year to 2800 with Allstate

__________________
"God is not our side because he hates idiots" TGB and U

"There are 2 kinds of people in this world those with guns and those who dig..........you dig"

Shag

Just curious, do those prices include wind coverage or does Florida have a wind pool similiar to NC?

__________________
The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people.

Murphjup

Well talked to State Farm today and they told me, that if you have a "Hip" Roof, which we do they can give us a lower rate...About $1000 less Not sure what that really means, and why they don't tell you that when they end out your new amount...

I guess the point of this is, that if they increase your rate, give them a call and see if you can get any discounts...

It's alll a big game...

Here's an informative article...

http://www.pensacolahg.com/story_homeinsurance.shtml

HullSlap

I'm insured with Florida Farm Bureau Insurance. I just renewed last week and my rate went up only 6% to $1175 for 2400 square feet no water front. They're no longer writing new policies south of Hillsborough county so I consider myself lucky. I hope they don't follow State Farm's lead with huge increases next year.

My property taxes are a different story. Last year $1775 this year $4060! I hate when the tax appraiser gets around to reassessing the property after you purchase it. The new rate gives you an idea what's happened to the property values in recent years. That's $190 monthly added to my already ridiculous mortgage. 3-4% annual inflation my ass!

__________________

2005 Sea Hunt 202, Honda BF150 2009 Toyota Tundra

165Striper

Our old insurance "canceled" us (the non-renual said canceled and saidthey were reducing their exposure) after one claim on a roof that wasmildly rearanged after Frances. Looked around and couldn't findanything. Called my old agent who I never really liked anyway andgot a quote from our old insurance company for double what we werepaying! Finally found something "reasonable", which is definatelya relative term. Turns out I'm pretty happy paying $5200 for a1600 sq ft house with no waterfront, 12 mi inland, and a $11,000hurricane deductible. Last year we paid less than $3k, but Idon't want to remember the number so the 5k doesn't sound so bad.You think windstorm is bad, try to get insurance in fire code 9 orhigher in S FL

__________________


*Sometimes I sound like I know more than I do. Other times I don't.

greyg8r

I have 5 rental houses - 2 on the water - plus my homestead, so I know all about homeboner's insurance. I just found out the insurance commissioner, Kevin McCarty, was my high school class president, a guy I knew in high school quite well. I am going to send him a letter...

__________________

Menzies

Didn't notice any jump - but we're pretty quiet re the storms where we are (touch wood!).

CThomps

No change yet. Mine came out in August. I'm still paying $3400 for all my insurance's combined on a 2000sqft house not in a flood zone with State Farm.

KeyPineSavage

Shag

Not sure, but I think the posts above yours are from guys who still can get wind in their homeowners, and it is included.

In many parts of coastal Florida, we cannot get wind in our homeowners, and yes, Florida does have a state-sponsored wind pool for people like us (generally, the insurers have quit the wind inclusion on a county by county basis.) My homeowners (which does NOT include flood or wind) is a very reasonable (I think) $460/year.
BUT, wind is $2005 and flood $1200. We are told to expect a big increase in the wind next year.

This BTW is for a 2000 foot plus Florida room ground level 40-year-old house on a canal and about 300 yards from open water. Also I am way underinsured. Those premiums above are for about 240,000 of insurance while the house, even with depressed prices, is probably still worth 575 to 625. But any more wind, say to get 500, would cost about $5,000. And there is no way it will get better.

KeyPineSavage

CThomps

I didn't know State Farm would still write wind into the homeowners in Lee county? How close to the coast are you?

__________________

billinstuart

In Florida, the choice that Keypines has made..to be able to exclude wind coverage from his homeowners..is not allowed in all counties. apparently, several years ago the state insurance commission had each county elect whether or not to allow wind coverage exclusion from homeowners coverage. We in Martin County do not have that option, unfortunately.

tommyr904

i just said fugem.if my shit blow's away back to no money down trailer lot and hook me up another

CThomps

I have a hurricane deductable. But i'm in a 130mph wind zone. So wind insurance is not necessary. But I do have $250K worth of flood insurance even though i'm at 13.5ft and I also have catastrophic insurance which pays off my mortage if my house goes the way of OZ.

My house is probably 2 blocks from the Caloosahatchee but almost 12 miles from the mouth of the river. My neighborhood is actually a "high spot" in the area. And my house sits an additional 2ft above grade.

My insurance with just State Farm is $2900. The other two insurances make up the other $500.

fishnfun007

Depending where you are, your mortgage company may not allow you to pass on wind/flood either.

billinstuart

I'm in the process of having my house "de-listed" from the flood insurance (FEMA) maps. Only a portion of my property, and none of my house, is in the flood zone. I had my foundation survey certified at the elevation above our "flood level", so hopefully I can quit paying that stoopid flood insurance.

KeyPineSavage

bill/fishnfun

As far as I know, in Monroe County it is not a choice. That is, none of the companies will write a homeowners policy that includes wind. If you want/need wind, you have to go with Citizens, the Florida state pool, as they are the only ones who provide it. Besides being under-insured, I also have a huge deductible.

About the mortgages, that's a separate deal. We also have a rental house, which we finally paid off the mortgage on three years ago, partly to avoid having to buy the mortgage-company required wind insurance.

Bill, about the flood zone, had another house where the mortgage company made me buy flood, even though we were 18 feet above sea level, highest point in the Florida Keys. After seven years, finally got them to quit requiring it, but only by threatening to sue them.

__________________

Kajun

i'm so glad i didn't buy here in Fl......in 6 months when my lease is up i'm gonna ask for a rent reduction the same real estate company that manages my house also manages the house next to me thats been vacant for the last 6 months.....i'm thinking they'll agree to a $100 a month reduction

__________________
1990 Wellcraft 18 Sport