How expensive is Homeowner's insurance for a 1600 square ft. home in Broward county?

Asked by Bethany Marten, Baldwin, NY Wed Jul 8, 2009

I am going to be purchasing a single family home probably in Lighthouse Point, Imperial Point or East Wilton Manors w/a pool. How much should I expect to pay a year for homeowner's insurance? If I purchase on the water how much more can I expect to pay?

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6
Jennifer, Renter, Lighthouse Point, FL
Thu Mar 7, 2013
I am not an official anything...agent, broker, insurance salesperson. I can only tell you that i have been looking for a home for years...and what always pulls me back is the homeowners insurance. I have looked on the east and west side...usually at 1200-1500 sq ft homes. For flood and wind i have gotten quotes varying from 4200 to 6800/year. Big factors include home value (cost of replacing the home), flood zone, construction type, age of the home, age of roof, the deductible you choose. But i think what mostly impacts the price is the four point inspection and your hurricane protection (either impact windows or shutters). And with hurricane protection it's all or nothing. If you have an exposed skylight, bathroom window, whatever, that doesn't meet their standards, you do not get the credit.
Again, this is all in my experience (with shopping around, even tapping into a family resource who owns an insurance company).
I have a friend in Wilton Manors on the water who pays less then 4k/year...go figure. I do think he was grandfathered in before the last big hurricane. Also, be aware...Citizens is in the works to up their rates currently.
By the way, the last two houses i almost purchases, both in good condition with roofs under 5 years old, both west of 95, came in at 6400...one in Riverland, one in Palm Aire.

Good luck. I don't know how much longer i can afford to live here at those rates.
0 votes
Jennifer Sus…, Agent, Boca Raton, FL
Tue Feb 21, 2012
Dear Bethany,

I'm happy to put you in contact with my Insurance Broker
http://www.gatewayinsurance.com/

Sincerely yours,
Jens Sommers
Web Reference:  http://www.AgentBoca.com
0 votes
Tammy Hayes, Agent, Port Charlotte, FL
Mon Feb 13, 2012
Go to http://www.floodsmart.gov web site. Type in the address of the home that you are interested in. It will give you the flood risk, the rates, and insurance companies to call.

Tammy Hayes, Realtor
Green Lion Realty, Port Charlotte, FL
tammyhayesre@gmail.com
0 votes
Mikel DeFran…, Agent, Canton, MA
Tue Nov 8, 2011
Nobody on this board can properly answer the question without much more info. You are much better off getting one ( or several ) free quotes that can take into account all the specifics of the property, location, condition and insurance co rates.
0 votes
Jennifer Sus…, Agent, Boca Raton, FL
Mon Nov 7, 2011
Dear Bethany,

I have a great Insurance Agent...it really depends on so many variable. It really is imperative that you contact a licensed agent:

Jonathan D. Rausch,
218 & 220 FL Licensed Insurance Agent / 520 Adjuster / Notary
LMI dba Alexander Insurance / World Wide Ins. & Bonding, Inc.
Board Member, West Boca Chamber of Commerce
Florida First Insurance of Pembroke Pines, Inc.
7625 Pines Blvd. Pembroke Pines, FL 33024
Phone: 954-322-7800 ● Fax: 954-843-0842
Cell. 561-584-0732
Efax 954-208-0011

http://www.DoesInsuranceMatter.com
http://www.HighValueBonds.com
http://www.DentalNorthAmerica.com

Good Luck!
Jen Sommers
0 votes
Kelly Reark…, Agent, Boca Grande, FL
Wed Jul 8, 2009
Before I became a real estate agent, I was an insurance agent here in Florida for 5 years. Insurance is a very personalized matter and I would recommend contacting a local licensed insurance agent that can guide you on the various points of coverage. The rates will vary depending on a number of factors, including how you plan to use it (full time, part time, or rental), the age and condition of the home, whether it is in a wind or flood zone (important - especially if you are purchasing waterfront), the contents of your home, and your personal information (most run a credit report) - just to name a few. Don't settle for cookie-cutter policies. Talk to someone that is local and knows the neighborhood that you are interested in (just as you would to find a real estate agent). You will get more customized coverage and a greater peace of mind by discussing your concerns with a local agent.

The Florida Department of Financial Services has a website with an Insurance Library that you might want to check out.
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