Homeowners Insurance Premiums

[Sunset]

Quote:

Originally Posted by ShokWaveRider NE Florida, Home Value $900k House Insurance: $1250 Flood: $400.

Wow.. I thought FL had high insurance, any reason yours is so low (high deductible, built on a hill on stilts) ?

[skipro33]

I want to also suggest that your deductible be priced at a limit that you could afford to walk away from. If you can afford to loose $5,000 on an asset worth around $750,000 to replace after a loss, then set your policy at $5,000 deductible. The more you can afford to take a hit on, the lower your premium is going to be.

In other words, set the deductible at a level that doesn't damage your quality of life if you had to exercise your policy.

[ShokWaveRider]

Quote:

Originally Posted by Sunset Wow.. I thought FL had high insurance, any reason yours is so low (high deductible, built on a hill on stilts) ?

2 miles from the beach, 10ft above sea level, Concrete main structure. $10k deductible.

For a "Stick" house the insurance would be double even more. 1 mile closer to the ocean and that would be anyone's guess.