Home Buying in Weston>Question Details

Bpw18, Home Buyer in

On average how much will homeowner's insurance cost in Weston,FL on a home priced around 300k-400k?

Asked by Bpw18, Wed Jul 3, 2013

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Dear Bpw 18,

Homeowners Insurance is usually estimated at 1% of your purchase price. Keep in mind to get the best insurance rates you need to look for a home with shutters or panels. Weston does have homes with these specific criteria. Please call me to help you with a Weston home.

Susan Penn, PA, SFR, CDPE http://www.susanpenn.com
EWM Realtors® | A HomeServices of America Company | An Affiliate of Berkshire Hathaway
2000 Main Street, Suite 103 | Weston, FL 33326 penn.s@ewm.com
Office: 954.306.7337 | Cell: 954.557.5993 | Fax: 954.515.0200
0 votes Thank Flag Link Thu Jul 4, 2013
Homeowner insurance – Insurance rates vary by age of home, size of home, conditions of home, and location of home.  Insurance is more expensive if you live near any type of water – pond, lake, river, Gulf.  Insurance is more expensive if home was not built to current hurricane standards.  You can get discounts the home qualifies for by having a wind mitigation inspection done at the same time as your home inspection.  Discounts are available for building features that reduce damage during high wind events.  Overall discounts include things such as age of home, style of roof, how close the home is to a body of water, how close to a fire hydrant, how the roof is tied down, if the home has hurricane shutters or impact resistant windows, frame or block home, etc.   If the home is in a flood zone, the insurance company will require a flood elevation certificate. That can be obtained by paying a survey company to prepare it.  To check Flood Zones go to http://www.floodsmart.gov and type in the address of the property.  It will give you the flood zone, rates, and insurance companies. 

It is best to shop around with a minimum of 3 different agencies. I would go with agencies that reprsent several different companies such as AAA.

Tammy Hayes, Realtor
RE/MAX Palm Realty
0 votes Thank Flag Link Thu Jul 4, 2013
You need to be very aware of the Florida insurance policies. I had a home in Florida that was built in 1958. I upgraded the wiring and put on a roof that exceeded all hurricane standards. The only insurance company who would give me insurance was Citizen's. These guys are complete crooks. You get a quote, the insurance is bound, you give them your banking information and they take as much (in my experience) as 45% more than the quote.
Flag Thu Jul 4, 2013
Oscar Correra who responded after my response, has given pretty good factors.

I use .75 to .95 myself on GFEs

0 votes Thank Flag Link Thu Jul 4, 2013

please feel free to contact

Yunier Ruiz
Capital Insurance Group, Inc.
Ph. 954-431-9423
Fax 954-431-9432

Yunier can answer all your questions regarding Hazard and Flood Insurance coverage.

Have a wonderful 4th of July!

Best Regards,

Beate Rodriguez
Mortgage Specialist
NMLS# 299 244

Cell: 954.695.4849

1921 NW 150 Ave - Suite 103 C
Pembroke Pines, Fl. 33028
0 votes Thank Flag Link Thu Jul 4, 2013
Hello Bpw18.

Insurance, taxes and HOA maintenance are expenses that you will have when buying a home, so I can see that you are doing your homework. If you are financing, your mortgage broker will take them into account when you get prequalified, so you would learn how much you can afford to invest in your home.

The cost of your policy may vary depending on the insurance company and coverage you choose, so the best for you is contacting an insurance agent with the specifics. Please feel free to contact me for a list of trusted insurance agents my Weston clients have been using with great satisfaction, just email me to Marisac2506@aol.com or call me at (954)309-6593. I will be happy to assist you with everything related to the purchase of your Weston home, puting my 10 years of experience to work for you. I've lived in Weston for over 18 years, raised my family here, and I loved it!

Best of luck and I hope to hear from you soon,

Marisa Costoya, Realtor with Three Palms Res. R.E.
email: Marisac2506@aol.com
cell: (954)309-6593
0 votes Thank Flag Link Thu Jul 4, 2013
The Florida Office of Insurance Information has a website for consumers providing estimates for auto and home insurance. Visit http://www.floir.com/choices/ for more information
0 votes Thank Flag Link Thu Jul 4, 2013
It will be approximately about o.8 to 1.0 % of the purchase price but MANY factors affect this, location, flood zone, age of the house, roof, shutters, garage door reinforcements among many others.

I always suggest all my buyers and clients to get a wind mitigation inspection and this may reduce your policy cost drastically if your home qualifies.

Feel free to contact me and I will have my insurance agent contact you for a free quote.

Oscar Correa. 954 235-1524
0 votes Thank Flag Link Thu Jul 4, 2013
As a Florida Mortgage Broker I would estimate around $300.00 mo for a 400k home.

Among other factors, credit has become part of how much borrowers will pay for insurance.

Make sure you get the extra Flood Policy, even if you're not in a Flood Zone. Its not much more and its well worth the extra costs.

0 votes Thank Flag Link Thu Jul 4, 2013
Homeowners policies vary from carrier to carrier and also the type of plan you purchase.

Even owning certain breeds of dog can affect your rate.

Plans with higher deductibles will have lower premiums. You can also choose a basic policy vs. the superior policy.

Best to ask your auto insurance agent for a quote. You may get a deal if you bundle your policies.

If you bank with a credit union, check to see if they offer insurance services.

Best of luck to you,

Kawain Payne, Realtor
0 votes Thank Flag Link Wed Jul 3, 2013
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