How crazy is home owner insurance in SW Florida? (Lee: mortgage, buy)

[DaniCR]

It seems like insurance rates vary so much and are pretty outrageous. Before i call around does anyone have any suggestions or recommendations on where to start. Any help is appreciated.

[mary54mi]

Also get wind mitigation assessment on your property and check to see if need sinkhole coverage. Wind mitigation can save $. Sinkhole evaluation if purchasing very important.

[CCRESI]

I posted a similar post, but it moved to the FL forum for some reason.

Property insurance can be very expensive here in FL. When we first moved here, it was a little over $1100/yr for just homeowners. $500 for flood.

Now it is up to $2009, and $638 for Flood. Raised my mortgage payment nearly $200/mth.

Know that insurance companies can raise rates. Buy a home you can afford, and expect with ins and taxes for your payment to increasse. Banks don't take this into account. No matter how strict they say lending is.

Buy a home that is newer. That will save you. Get a wind mit done at the time of inspection, this will save you. If you buy an older home, this may be a requirement anyways for your financing.


Good luck to you! Insurance everywhere is Crazy. We just happen to live in FL at the time.

[rikoshaprl]

Originally Posted by CCRESI

I posted a similar post, but it moved to the FL forum for some reason.

Property insurance can be very expensive here in FL. When we first moved here, it was a little over $1100/yr for just homeowners. $500 for flood.

Now it is up to $2009, and $638 for Flood. Raised my mortgage payment nearly $200/mth.

Know that insurance companies can raise rates. Buy a home you can afford, and expect with ins and taxes for your payment to increasse. Banks don't take this into account. No matter how strict they say lending is.

Buy a home that is newer. That will save you. Get a wind mit done at the time of inspection, this will save you. If you buy an older home, this may be a requirement anyways for your financing.


Good luck to you! Insurance everywhere is Crazy. We just happen to live in FL at the time.

My homeowners went up $118 to $2120, My flood went up about $30 to $380. I have a 1976 home but it is out of the worst flood plain.

[DaniCR]

Can anyone tell me is all of CC on the flood plain or is there only certain areas?

[rikoshaprl]

Originally Posted by DaniCR

Can anyone tell me is all of CC on the flood plain or is there only certain areas?

https://msc.fema.gov/webapp/wcs/stor...mmunity=339615

You need to check the different areas. Generally in SE CC west of Del Prado and all areas north of about 1/2 mile south of Veterans are in a lower risk zone.