FL homeowners insurance... - Page 2

CMP · 10-22-2009, 08:29 AM

Thx for all the input, guys. I was lucky enough to find a guy right here on THT. Lat Farr of the Farr agency in Venice, FL walked me through all the wind imtigation stuff, flood zones, etc and got me a great coverage package for far less than I imagined. Highly recommend...

CMP

Soflabob · 10-22-2009, 07:39 PM

Quote:

Originally Posted by billinstuart

Lotsa smaller companies are forming and taking over/buying desirable policies from Citizens, the JUA insurance pool. Being in the keys you may still have a problem. There are various deductibles available which may help.

Remember, you only haveta insure the value of the IMPROVEMENTS, without the land.

Does anyone know if most homeowners policies have an umbrella for boater liability. I hate buying 2 policies and we just bought a place on Hutchinson Island in Martin county with waterfront access. I've heard that you can sometimes cover the boat and house with one policy.

Dry Rot · 10-23-2009, 03:59 PM

Someone mentioned taxes. Figure out a way to declare residency while values are down. That way when values return you have a Save Our Home basis established. It will save you big bucks later on when values (and taxes) go up.
Dry

billinstuart · 10-23-2009, 05:10 PM

uh..Save Our homes was voted out!

Dry Rot · 10-25-2009, 08:19 AM

uh...it's still on my Real Estate statement. When was it voted out? I tend to agree it is unfare to out of state residents because their taxes will ultimately double, but I heard that the portability has been challenged just this month.
http://www.miamiherald.com/news/flor...y/1291692.html
Dry

billinstuart · 10-25-2009, 02:45 PM

It was voted out last year. Existing SOH will remain until the property sells. Portability allows you to take some of your reduced assessment with you. New homes/residents go on the rolls at 100% valuation.

Those of us with SOH and low assessments are locked in. Whoever buys our homes is gonna be in for a shock!