Home Buying in 33952>Question Details

Pamela H, Home Buyer in Port Charlotte, FL

What's the story on insurance in southwest florida? What features should I look for to get the best deal on Homeowners insurance? Port

Asked by Pamela H, Port Charlotte, FL Fri Jan 28, 2011

Charlotte I recently put an offer on a home in Punta gorda fl and got quotes from $1500 to $3000. The mortgage was only $30000. So I was expecting to pay about $800 - $1000. I'm currently in Ohio and looking to retire on a budget.

Help the community by answering this question:


Why am i paying a higher home ins. premium for a 2/2 no garage/ no lanai/ no porches and only 960 sq. footage on a 16 year old house. My premium costing me over 3200.00 per year.

When my nieghbor has a newer 3/2/2 1400 sq. feet plus a screened lanai. There house is 3 years newer and they are paying just over 1500.00 per year.

My mortgage company states i have to have a minimium of 166,000 for the dwelling when the house is valued at 60,000.00. Also states i must carry 83,000.00 for personal property when i could replace all the contents for less than 7,000.00 and that is high. Yet they insist i have to keep this coverage.

So lets say god forbid something happens and my house were destroyed and its contents. There is no way that the ins. co. is going to pay me the 166,000.00 plus 83,000.00 along with the 16,610.00 for the other contents which would be my shed and the items in it. I could buy a brand new 3/2/2 with patio, repace all of my valuables, including my car. The house is not valued at that price nor are the contents. So they are charging me a high rate of which they would never pay out as all of my assets would not valued as such. Why charge me for something they could nor would ever have to pay out?
0 votes Thank Flag Link Tue Jan 15, 2013
If you want to shop and compare insurance rates in Florida, go to the following web site.


Tammy Hayes, Sandals Realty, Punta Gorda, FL tammyhayesre@gmail.com
0 votes Thank Flag Link Wed Mar 23, 2011
The first thing your realtor should recommend and you should do if you haven't already is have a wind mitigation inspection/report done, you can have them done for as little as $45.00. For the savings you should reap (appx. $200 minimum) it is well worth it. Then of course all the usual items that woud get you a discount in most states, security, hip roof, age of windows, etc. If you need a good reference for wind mitigation feel free to contact me I know of several for around that price I noted above.
Kelli Geddeis
Web Reference: http://www.kelligroup.com
0 votes Thank Flag Link Mon Mar 14, 2011
Hi Pam,
We use 3 local insurance companies and are always on the look-out for new ones with a good rating (solvent/strong). Keep in mind that homes in a flood plane may need flood insurance, especially if the home is being financed. Other considerations are wind mitigation features and velocity zones. The age of the home can sometimes affect rates along with type of construction.
If the home does not meet the latest codes and is not structured to handle 130 MPH wind, you may want to consider adding shutters, suring up the roof and tie-downs etc. (Gable roofs for example have to be sured up with certain bracing installed when positioned a certain way.) This easily done and a Wind Mitigation Report can check to see what may or may not need to be done. This will substancially reduce the cost of the insurance. Of course the value of the home comes into play as well.
Perhaps I raised more questions than I answered however if you use a good, experienced Realtor, they can help guide you through the process. It's simple really and don't be intimidated by it.
Good luck and you are wise to be buying right now.

Bill Hoyle
The According To Hoyle Group
0 votes Thank Flag Link Thu Feb 24, 2011

The official website for the State of Florida is http://www.shopandcomparerates.com

Trust this will give you a starting point. If you need an agent I am sure your Realtor will be able to point you in the right direction. If not call or email me and I would be very happy to help.

Genevieve Ramachandran
Broker Associate / Realtor®
Cell: 941-268-1511

Thomas Ryan Associates, Inc
252 West Marion Ave
Punta Gorda, FL 33950

Toll: 866-866-7926 X 206
Tel: 941-833-4777 X 206
Fax: 941-833-5777





0 votes Thank Flag Link Sat Jan 29, 2011
I too was new in this area, as of about 2 years ago. I received quite a few and wide ranging quotes; especially since I have two dogs. I do have a list of reputable Insurance Companies and I also can reccomend the Company I use. If you are a full time resident vs a part time resident; where the property is located-Flood Zone or not; Pets on Premises?; Amount of personal property, replacement value of the home and how much of a deduction you are willing to bear: all will effect your Premium. If you want to easily drop your Premium: don't forget to do a Wind Mitigation Survey and ask for Pictures when you do your Home Inspection and foward this to your Agent of choice. I used Amberg Insurance (Voted Best of Charlotte County) 941-743-5300: My Agent is Hester Dallemand ext #4. If you would like a list I can email you. My email is :sandrarubinstein5050@gmail.com
0 votes Thank Flag Link Fri Jan 28, 2011
Hi Pamlea,
The Office of Insurance Regulation for the State of Florida has a great website, where you will find loads of information and links to other informational sites and News. Just us the link below to take you to Their official site.

0 votes Thank Flag Link Fri Jan 28, 2011

The state of Florida offers an official website that provides people like yourself with rate quotes for the area you are located in. Consider visiting: http://www.shopandcomparerates.com

Florida's home insurance is quite different from northern states. In Florida there are three phases of coverage: windstorm, hazard, and flood.

If you would like additional insurance information we would be happy to put you in touch with an area insurance broker.

Good luck,


0 votes Thank Flag Link Fri Jan 28, 2011
Many question require additional answers BEST refer to insurance agents who have your documentation.

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
0 votes Thank Flag Link Fri Jan 28, 2011
Hi Pamela - If the seller of the home has had a wind mitigation inspection done since Hurricane Charley (2004), see if they'll pass the paperwork along to you for your insurance company to review and see what credits will apply towards your premium. If not, I would suggest having one done as that will most likely save you some money on your homeowner's insurance premium. This shows how well the home would be protected from wind damage. The coverage you're getting quotes on is for replacement at current building costs, not just to cover your mortgage balance. If you had a fire or other disaster to the home and had to rebuild, you'd want sufficient coverage to do that, and it would have to be to current codes. I've seen the unfortunate stories of neighbors and others who were underinsured and did not have enough to repair their homes after that storm. You picked a very nice area to retire to. You're going to love this lifestyle! (I'm a former Buckeye.) Lorrie Tanksley, Realtor - Coldwell Banker Sunstar Realty (800) 409-9657
Web Reference: http://www.HomeInSWFL.com
0 votes Thank Flag Link Fri Jan 28, 2011
I'd get estimates from several reputable insurance agents and compare apples to apples.
Web Reference: http://truesarasota.com
0 votes Thank Flag Link Fri Jan 28, 2011
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