Question : How much is home insurance per year in South Florida ?
Were purchasing a home around 300,000 how much is insurance yearly ? Anyone pay around this much ?
- asked by ISRAEL R
All Answers:
Answer #1
It doesn't work that way. It's ALSO based on theage of the house, YOUR CREDIT SCORE, the claimshistory of both you and the house, etc. And thebad news is, there isn't any competition forhomeowners insurance in FL - you're GOING to endup with the state fund, Citizens. The HOMEOWNERSpart of it will cost you about $3,000 a year. TheFLOOD insurance part will likely cost you about$1500 - but the MOST flood coverage you can get is$250,000, so you'll be needing to put at least$50,000 down on the house or you won't be able toget the mortgage. Then the WIND coverage isprobably going to run you about $5,000. Totalinsurance cost . . . budget $10,000, and youshould be slightly under.
- answered by mbrcatz17
Answer #2
It depends entirely on where in South Florida youlive (i.e. close to the water is more), whetheryou have a gable vs. other sort of roof, what yearyour house was built in (which tells us which codewas applied to your house when it was constructed.THose built after 1992 have tougher buildingstandards post hurricane Andrew) and the size ofyour house and whether it has one story or two andif you have hurricane shutters. Your insurancecould be a couple thousand dollars to $6,000 -$8,000 depending on your answer to these manyquestions.
- answered by kikidismom
Answer #3
Its going to be more than you expect Mine is$1800 a yearfor a 2 bedroom condo, 10 blocks infrom the beach inBroward county. Get quotesbefore you commit & keepin mind that many of themajor insurers like Allstate & StateFarm no longerwrite homeowner policies in the state. Citizensis an insurer of last resort only, which means,theywill only accept you if NO other company willtake you.Footnote: As expensive as insurance is,l was very gladl had it when Huricaine Wilma torethe roof off my building.
- answered by rpf5
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