Talk to a homeowner in Florida. Average premiums are $8,000 for the flood policy, $1,200 for the windstorm policy, & then the Homeowners policy for only $800 on a $250,000 home. If it floats, Flys, or is a fixed building, its cheaper to lease it.

 

No, but the same agent handles all the policies. I worked with the guy for years, so I'm pretty sure he's doing his best to find a good rate.

Nick,

Our area is pretty close to the water too. One guy I know had his premium go to 6K for a house on the water, then add in all the other clauses/exceptions and your out of pocket $ gets pretty steep, both for premium and deductibles if you have damages

 

Try this premium on for size. $4800 With my house vacant and under major renovations, the only way I can keep it insured is with a Builder's Risk policy. That's no typo. $4800! I'm so looking forward to having it finished and moving in sometime in the next 60 to 90 days. I could have replaced my motorcycle with what I've spent on premiums since I started the project.

Hey insurance company, this is for you --->

 

i would have put a cot in there and said i live there

 

It was tempting. The worst part is that even with that BS premium, they gave me a hard time about renewing the policy. And it's a "100% earned premium" policy which means that if I switch to homeowners before the current policy expires, I'll get zilch zip zero nada refunded to me. They just get to keep the whole premium.

This is one of those times when I realize it's a good thing I don't own firearms anymore.

 

Erick, I think that is standard practice. I paid mine up front last year, and they withhold monthly still. I think they want to collect the money in escrow prior to the renewal next year so it can be paid off all at once in advance.

 

barb thought our premiums were too high and wanted our agent to shop them ariound.
so she filled out all the paperwork with detailed information on the house and contents.

yep replacement cost of the house on the basis of the new information...up 35%

DOH !!!

premium change wasn't as bad as expected but my wife didn't find that discount she was expecting.

 

I don't get why u guys are having problems maybe i'm just missing something here. Who do you guys carry for insurance? I have had no problems what so ever which is kinda suprising cause i do know insurance co very well. I'm at $740 with Quincy and have good coverage. I pay it all once a year and done, I don't escrow in the mortgage or any of that crap. I'm not sure if u know this or not but if escrow or make payments vs. one lump sum they charge more, one of those hidden costs but of course that depends on your finances.

 

lainey, what do you have for a deductable? i keep mine at $2500 and it makes a big difference. it's not worth putting in a small claim because they will probably dump for it.

 

Just $500.00, but that's the same as in previous years. The increase is still substantial with only a minor change in the total coverage.