Florida Homeowners Insurance

[lets-retire]

Even after getting hit by those back, to back, to back hurricanes my insurance was still less living two miles from the beach in Florida than it is now living about eight miles from the beach in Mississippi. I pay almost $1000 more now than I did then.

[pedorrero]

A month late but what the hell? I am considering dropping my homeowner's insurance ... I pay about $1010/year to insure a structure that is worth (maybe) $100K (ex-land). Probably won't drop it, but when State Farm dumps me, I may not like the alernative$. While I'd obviously be taking on a risk (of losing the home), I have $1000 more a year to spend on things i like instead of partly subsidizing those who want to live in a mansion built on a sand bar on the Atlantic

[73ss454]

I just received my renewal from Northern Capital and guess what, up 60%. So I called People's Trust after I received a flyer in the mail. Half the price of Northern Capital with more coverage. My guess is this charge will only be for the 1st year as the scam in Fla. seems to be to get you signed up and after the 1st year hit you hard. I've been moving from company to company for the last 6 years.

[Rich_in_Tampa]

Quote:

Originally Posted by 73ss454 I just received my renewal from Northern Capital and guess what, up 60%. So I called People's Trust after I received a flyer in the mail. Half the price of Northern Capital with more coverage. My guess is this charge will only be for the 1st year as the scam in Fla. seems to be to get you signed up and after the 1st year hit you hard. I've been moving from company to company for the last 6 years.

Yes, but that's not unique to Florida. We occasionally have switched carriers, even coming back to the original one once.

BTW we had a wind mitigation check done by a qualified inspector and got a large credit on our premium - forget the number but it was like $600 a year.

[73ss454]

May not be unique to Fla but when I lived in NY we had the same ins company for 31 years. None of the stupid games that get played down here.

If you remember Rich I told you about the wind mitigation about a year ago.

[Rich_in_Tampa]

Quote:

Originally Posted by 73ss454 May not be unique to Fla but when I lived in NY we had the same ins company for 31 years. None of the stupid games that get played down here. If you remember Rich I told you about the wind mitigation about a year ago.

Oh, yeah... . In fact when we first inquired about it back then, our carrier told us it didn't count. We switched last year and voila. I guess playing musical insurance companies paid off for us in the end.