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  #16  
Old 09-25-2021, 10:45 PM
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Quote:
Originally Posted by dlong View Post
Question for the folks that live in Florida. Have you seen your home owners insurance sky rocket? This question is for anyone else that either lives in flood prone areas or near water. Thanks.
Doubled and can’t get coverage Your neighbor in Pompano
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  #17  
Old 09-26-2021, 01:45 AM
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Originally Posted by dlong View Post

Yes, everyone’s insurance will go up, not only in Florida. Plus you have to keep up on replacement costs on your homeowners. What cost 500k to replace 3 years ago, might cost 600k to replace now.
Bingo! I live in Northwest Florida, have a 2000 sq. ft. house on 5/8 acre in a nice neighborhood. I am on high ground, 25 miles inland from the Gulf and not in a flood zone. Ten years ago when I paid $185,000 for it, the house was 11 years old, today's replacement cost is $325,000. My homeowners Ins. jumped an additional $1000.00 from 2020 to 2021. Checkout the cost of construction materials in your local Lowe's or Home Depot since the Covid-19 pandemic. The jump in the price of gasoline from $2.00 to $3.00 or more a gallon has also helped the increase in cost of just about everything you purchase.
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Old 09-26-2021, 07:18 AM
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Everyone in the country that pays insurance on a home are paying for coastal storm damage, especially if your ins. co. insures those in the coastal regions. Its how ins. works.
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Old 09-26-2021, 07:56 AM
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H.O. Insurance in Florida

Homeowner Insurance (H.O.) covers the cost of the house above the foundation as a rule and usually requires you be insured to 80% of value to avoid a co-insurance penalty. H.O. also provides liability coverage. The use of deductibles can help with the cost of the insurance. In many cases a person might elect to go uninsured as to the first party coverages but will still want the liability coverage. I do not know if it is possible to get a liability only policy. If it isn't, you can probably get a stripped down policy, like an H.O.-1, and use the largest deductibles possible. If you have a mortgage, the bank will have requirements for your coverage. Until most of the fragile homes are replaced, expect high costs. In an ideal world, the home you live in would be pretty bullet proof as to hazards. In that case, your premium would be low. And explore multiple companies and try and use the exact same application in getting quotes so you are fairly comparing costs.
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Old 09-26-2021, 09:07 AM
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Originally Posted by Al the Infidel View Post
Everyone in the country that pays insurance on a home are paying for coastal storm damage, especially if your ins. co. insures those in the coastal regions. Its how ins. works.
You don't have many tornados up there, do you? Everyone pays for everyone else. Socialism at its best!
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  #21  
Old 09-26-2021, 10:08 AM
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Originally Posted by FlysAlot View Post
Doubled and can’t get coverage Your neighbor in Pompano
Ah, Pompano, named after the fish. Just north of us. We are in Harbor Inlet in the group of buildings on the Point. The Point of Americas is our neighbor. You can see the buildings coming over the 17th street bridge.

Are you in a house or one of the many buildings on the beach along A1A?
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  #22  
Old 09-26-2021, 06:53 PM
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Are you in a house or one of the many buildings on the beach along A1A?
House, just west of A1A
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  #23  
Old 09-26-2021, 08:09 PM
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Ugh! I can’t imagine being stuck with a condo near the coast right now. How many were poorly designed and/or built? How many have suffered poor maintenance for decades? Yikes!!
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