Home Insurance in 33040>Question Details

Jessie, Other/Just Looking in Miami Beach, FL

How much is the home owner insurance cost (flood & wind as well) Florida Keys for a new (1 year) property?

Asked by Jessie, Miami Beach, FL Wed May 6, 2009

If i'm interested in buying a property in FL what would be the approximately for a homeowner insurance, flood & wind, I would like a minimum & maximum range.

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Insurance is based on the replacement cost for the dwelling you are purchasing. For example, if you buy a property valued at $600,000 and the land has a value of $350,000, the appraiser is assigning a REPLACEMNT COST of the dwelling of $250,000. The current Citizen's windstorm rate is around $14 for every $1000 in value. So using this $250,000 figure you would pay $3500 before discounts. You can amass discounts up to around 40% of the policy for things like shutters, roof straps, etc. You also get discounts for the age of the property. A new building will be cheaper than an historic one, in most cases. The flood insurance dpends on what flood zone you are located in. I would be glad to send you a map of the more flood prone areas if you e-mail me. Im some areas of Key West, flood insurance is not required and if you get it maybe a couple of hundred dollars and in other it is a must. In the most flood prone areas you could expect to pay up to a couple of thousand dollars. Homeowners has a lot of variables like contents coverage and deductibles but I think I pay around $1000. I would be glad to answer any other questions you may have and could give you a more concete price range with a particular property.
Web Reference: http://www.jimmylane.com
1 vote Thank Flag Link Wed May 6, 2009
I can surely get you two great quotes. I own a title insurance company. Are you buying a place. I would love to take care of your closing. I have never had a claim in 10 years and guarantee the best prices!!

Ali Egeli, President
Olympia Title & Escrow
0 votes Thank Flag Link Wed May 6, 2009
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