Home Buying in Cape Coral>Question Details

Doc Watson, Home Buyer in Seattle, WA

I hear homeowners insurance in Florida is extremely expensive. Is that true?

Asked by Doc Watson, Seattle, WA Fri Aug 17, 2012

What is the average homeowners expense for a 225K in Cape Coral located on a canal/waterfront?

Help the community by answering this question:


Hello Doc,

Hello again from the Southest to the Northwest. As the comments you received already stated, a lot depends on the age, roof type and location of the home. My preferred Homeowner Insurance company is Cape Coral Insurance Center; Paul McDaniel at 239-770-8884. Please let him know I referred you and he will take care of YOU!

For additional questions or information please feel free to contact me directly at 239-218-7737 or Ray@TeamSantini.com

Ray Santini
Re/Max Realty Team
0 votes Thank Flag Link Sat Sep 15, 2012
Hello Doc,

I suggest to get quotes from several insurance agencies, with the same coverage (apples to apples comparison), and choose the best.

There is nothing average about homes though. Some have roofs that will pass 4 point and wind mitigation inspections - no problem, and others won't. There could be no-flood insurance areas,
and those where you'd want to do an elevation certification to reduce your premium payment.

Hope this helps,

Irina Karan
Beachfront Realty, Inc.
0 votes Thank Flag Link Sat Sep 15, 2012
Prices can vary quite a bit. For instance, when I was purchasing a new home in the Cape I found a house that I really loved and the price was right but due to it's age (1980's) and location (SE Cape, in flood zone) my overall insurance costs were quoted at $3243 a year.

I pulled a quote for a different property (located about 10 mins further north) that was built in 2007 and even without having a hip roof my insurance is just under $1200.00

Your Realtor should be able to let you know what homes/locations are more likely to have higher insurance costs, and if you don't have a Realtor currently representing you I would be happy to apply for the job of aiding you in achieving your real estate goals.

If you would like, I would be happy to provide you with a flood zone map that may also help with making your decision regardless of who you choose to serve you.

Happy house hunting!

0 votes Thank Flag Link Sat Aug 18, 2012
would you provide me with a flood zone map.thanks Russ
Flag Fri Aug 24, 2012
My experience is that at one time my fee was $2,100 with a famous label company then swith to a smaller label and the cost dropped to $1,200 for a 3/2/2 1400ft. Then we got a larger home 3,200ft 5/3/3 and it only went up to $1,600. So it has to do with "provider" and "region". Is that more expensive or cheaper than where you live, that I don't know. But you will probably save a bundle in taxes anyway by moving to Florida (about 1/4 of taxes in NY and MA), that will make up for any increase in insurance rates. Plus in Florida you will qualify for a homestead tax deduction (not available in every state), making the deal sweeter. Was this answer helpful? If so please click on the "green thumbs up" or the "best answer".

Tony Vega
La Rosa Realty
0 votes Thank Flag Link Fri Aug 17, 2012

I wish I had an easy ball park figure for you but I'm going to defer this question to Emma Moncada at FEDUSA Insurance. Their phone number is 239-573-2463. When I spoke with the insurance company they stated it was impossible to quote without knowing the size of the home, age of the home and replacement value of the home. Most homes are selling for 30% less than it would cost to replace them. A home sellng for $225k might require being insured for $300k if you have a mortgage. If I can answer any other questions, just let me know. Lee Reeves - RE/MAX Realty Team.
0 votes Thank Flag Link Fri Aug 17, 2012
This as more of a question for an insurance agent. Try http://www.tedtoddinsurance.com

0 votes Thank Flag Link Fri Aug 17, 2012
Too many variables are involved for us to answer you. Year built, type of roof, type of construction, hurricane shutters or not etc...give me a call and I can explain all the variables in detail to get the best rates.

Terry McCarley
0 votes Thank Flag Link Fri Aug 17, 2012
It depends on what your idea of "Expensive" is. Florida may be higher than other states and it may be lower than some. It also really depends on where your property is located in Florida, obviously if you are really close to the water in a flood zone or hurricane prone area, insurance will be higher than inland with no water around. Let me know if i can help your further.

Frank Glaab
Gulf Gateway Realty, Inc
0 votes Thank Flag Link Fri Aug 17, 2012
Expensive is relative to what you're used to paying.

Contact a few insurance companies to get some ideas on pricing - year of the home, rebuild cost, age of roof, lot elevation and flood zone will all determine what your annual premium costs. A home built before 2002 will most likely need a wind mitigation inspection for you to be eligible for wind credits on your policy.
0 votes Thank Flag Link Fri Aug 17, 2012
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