Lower Florida Keys Home Insurance Cost...How Much?

Asked by Mike, 33040 Wed Jan 16, 2008


Does anyone have any idea what the high and low estimates are for insurance on a 2-3 bedroom stilt home on a canal either frame or CBS costs per year... Home value around $450K.

Thanks for your input!

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Chanel’s answer
Chanel, , Murrieta, CA
Thu Jul 12, 2012
There are a couple of factors that would affect the cost.
Replacement cost of the home which is determined by the type of building materials used to build the house, territory or zip code, your insurance history such as insurance score and claims history if any, and a few other factors depending on the company. Its always best to get a couple quotes and compare not just rates but also coverage. Some policies are broad form and some are special which are very different contracts. You really need to get some quotes from insurance agents and compare them. Its a bit of work but hopefully the company you get insured with is the one you keep for a while.
Web Reference:  http://myinsurancenerd.com
0 votes
Dave Wiley, Agent, Big Pine Key, FL
Wed Jan 16, 2008
Hi Mike:

I own a canal CBS home here in the Lower Keys such as you describe for over 20 years. Typically if a mortgage is tied to the property you will be required to carry three separate policies; homeowners, flood, and wind. If you do not have a mortgage tied to the property then you are not required to maintain flood or wind insurance. I would recommend you contact a local Insurance company as they could probably give you a more accurate picture. The Lower Keys Chamber of Commerce website (http://www.lowerkeyschamber.com) would be a good resource. But with that said we have personally paid approximately $1,200 for Homeowners, $2,500 Flood, and $3,000 Wind on an annual basis.
2 votes
I'm in Scotland and we pay 20 a month for home and as little as 5 a month for contents. It doesn't cover acts of God. That's why we build our houses from bricks so they don't float away. And up high
Flag Fri Sep 8, 2017
Bill Eckler, Agent, Venice, FL
Mon Sep 1, 2008
Hi Mike,

Try checking out this website: http://www.flgov.com/shop4insurance

We have also founf this contact reliable, reasonable, and quick: Phil Visali, 1-877-880-1833

Good luck,
the "Eckler Team"
0 votes
Troy S. Hens…, , 33040
Sat Jan 19, 2008
The cost of the insurance for a house like that depends on a lot of things. The age of the house being one of the largest factors. Also, how big of a deductable you are wanting to have as well. Some of my clients take the 10% deductable do to the savings that it allows them and also, they are of the opinion that anything that happens do to wind would more than likely be just above their deductable amount that they would have to pay. Therefore they would rather pay way less for their Wind Insurance and pay for the damage. Still being covered in case of a catastrophic event.

Normally, I would say that a house that was built around 1980 would have insurances of no less than 4000 per year for all of the insurances and more than likely be at around 4500 to 5000. All using the lowest deductables available.

Another huge factor is the MIT form credits. This is a form that a home inspector would provide you that would give you very nice discounts off of your wind policy.
0 votes
just for fun, do a google search on good ol' Troy. damn, did he ever ger himself in trouble...disgusting stuff, y'all. Here's a link. sound advice from a guy who won't be doing any real estate for a while...http://florida.arrests.org/Arrests/Troy_Henson_4321113/
Flag Mon Jun 25, 2012
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