Floridians - what home insurance company do you use? Help please!

[wildernesslodgelover]

We are with Frontline. We pay 3k a year, and we are in Broward county, about 25 minutes west of the coast/Ft Lauderdale.) Our home was built in the mid 70s. We just purchased it 1 year ago this month, so we have not made any claims yet.

I think my hubby said if we get shutters OR change out our windows for hurricane proof windows, we could get about $600 taken off that amount.


I am thinking of shopping around, so I am glad I opened this thread.

Do you pay based on how much your home is worth? Or how much your mortgage is? Just wondering.

 

[golfgal]

We are with Frontline. We pay 3k a year, and we are in Broward county, about 25 minutes west of the coast/Ft Lauderdale.) Our home was built in the mid 70s. We just purchased it 1 year ago this month, so we have not made any claims yet.

I think my hubby said if we get shutters OR change out our windows for hurricane proof windows, we could get about $600 taken off that amount.


I am thinking of shopping around, so I am glad I opened this thread.

Do you pay based on how much your home is worth? Or how much your mortgage is? Just wondering.

Rates are based on how much it would cost to rebuild your house, not how much it is worth, nor what your mortgage is. In this housing market most people will have their homes insured for well over what they are worth. Then rates move on to claims history in the AREA, then your own claim history and your credit rating. Florida rates are high because of hurricanes.

 

[wildernesslodgelover]

Rates are based on how much it would cost to rebuild your house, not how much it is worth, nor what your mortgage is. In this housing market most people will have their homes insured for well over what they are worth. Then rates move on to claims history in the AREA, then your own claim history and your credit rating. Florida rates are high because of hurricanes.

ahhh, ok. Thanks.

 

[Gabes_mommy]

Thanks everyone! We found a policy last night! I contacted a nice agent through the Citizens of FL website and she got back to us with a quote at about 6:00 last night. We are going to sign the contract this week - what a huge relief!

I never realized that home insurance in FL really is in kind of a crisis right now - not cool!

 

[RadioNate]

Thanks everyone! We found a policy last night! I contacted a nice agent through the Citizens of FL website and she got back to us with a quote at about 6:00 last night. We are going to sign the contract this week - what a huge relief!

I never realized that home insurance in FL really is in kind of a crisis right now - not cool!

Citizens the state insurance? Are you in an area that is totally unavailable for private insurance. My dad is forced into Citizens due to his proximity to the Atlantic and his rates are more than double mine for a house nearly 1/3 of the size.

They can get away with higher rates since they are the option of last resort in the state.

As for rates in Central Florida, my rates are nearly 50% higher than I paid in Texas. That is mostly due to the hurricane insurance and required sinkhole coverage neither of which I was required to have in Texas.

 

[Gabes_mommy]

Citizens the state insurance? Are you in an area that is totally unavailable for private insurance. My dad is forced into Citizens due to his proximity to the Atlantic and his rates are more than double mine for a house nearly 1/3 of the size.

They can get away with higher rates since they are the option of last resort in the state.

As for rates in Central Florida, my rates are nearly 50% higher than I paid in Texas. That is mostly due to the hurricane insurance and required sinkhole coverage neither of which I was required to have in Texas.

Yes, unfortunately we only live about 5 miles west of the Atlantic and they are the only company we could find taking new policies in our area. The premium really isn't bad though - it was way less than we were expecting.

 

[GeorgeG]

We have Travelers and have been happy with them.

Several years ago the whole state had their premiums jacked up a lot, but the state determined that wasn't fair to the inland counties that have less risk of hurricane damage. They provided home inspections at no cost to the homeowner and if the home was built to the latest codes (2005?) and met other wind protection guidelines, the premiums went back to where they were with a six month retroactive refund. The coastal areas weren't so fortunate.

 

[Mickey Fliers]

We just went through this with our move and purchase of our new house.

We are on the panhandle and niether USAA (we are active duty) or State Farm write new policies in FL. USAA will handle your policy, but it will be underwritten by a different company. We went with ASI.

I highly recommend that all FL homeowners look into the financial status of your insurance company. A lot of companies are writing policies that they will not be able to cover if a devastating hurricane comes through.

 

[richsilver]

Here we get a double whammy.Hurricane sure,but mostly sink hole related premiums.

We have Royal Palm as of now.Hearing that they may drop Fl. too.lol
Allstate already did it to us.
Rates aren't too bad.Around $2200.Who knows how good if we need to collect?

 

[RadioNate]

Yes, unfortunately we only live about 5 miles west of the Atlantic and they are the only company we could find taking new policies in our area. The premium really isn't bad though - it was way less than we were expecting.

that's a bummer. I think he is about 7 miles in and he can't get anyone else there either.

That's good that it isn't too bad! His premiums were jut reduced by $700 so that is good news for the area.