Comments on: Homeowner Insurance – Florida Rates – Not A Lot Of Options

By: Nathan Danielson

Nathan Danielson — Sun, 18 Nov 2007 03:04:58 +0000

I’d like to pass along some valuable info… I live in Palm Beach Gardens, and after shopping around extensively, the best homeowner’s insurance premium I could get for 2007 was $8,670. I was recommended by a neighbor to an inspector who does Wind Mitigation Inspections in Martin and Palm Beach counties. He submitted a report to my insurance companies and 10 days later I received a renewal policy for almost $3,000 less. He specializes ensuring the insurance carriers offer all discounts possible (as opposed to the state-provided inspections). I’d gladly pass along his information if desired.

By: Mark Reinhardt

Mark Reinhardt — Sun, 28 Jan 2007 01:48:08 +0000

In response to Mike Whaley’s comment….did you ever get an answer as to why your insurance went up so much more than others in your area? I have the same exact problem here in Ft. Lauderdale with State Farm. Last year $2300, this year $7300?

By: Not Made Of Money : The Making Of Trailer Park Millionaires

Not Made Of Money : The Making Of Trailer Park Millionaires — Wed, 10 Jan 2007 18:33:01 +0000

[...] I’ve been writing a lot lately about skyrocketing homeowners insurance and property tax increases here in sunny Florida.Â Down in Palm Beach County, Florida, landÂ goes for a pretty penny.Â Â Today millionaires were madeÂ in Briny Breezes, a mobile home park andÂ the smallest municipality in Palm Beach County.Â Briny Breezes is a 43-acre town between the Atlantic Ocean and Intracoastal Waterway. The town boasts 600 feet of beachfront on the ocean and 1,100 feet along the Intracoastal. It is nestled between Ocean Ridge and Gulf Stream. [...]

By: Mike Whaley

Mike Whaley — Mon, 18 Dec 2006 16:20:15 +0000

State Farm just increased my homeowners in Pensacola from $2300 to $7800 for a $200,000 home. When I initially heard that State Farm was given a 59% increase I expected it to go up, up not over 300%. I live over a mile from the water, at an elevation of 57 ft. My home is brick and has never suffered damage in a hurricane. We have never made a claim in 30 years at this address and I have a hard time understanding why we are being charged so much. I have checked with my neighbors who have different companies and they are paying between $1700 and $3000 for similar or larger homes. My boss has State Farm, lives in an older home located two blocks from the water and suffered extensive damage in Ivan and his policy increased by only $400 to $3000. My mother lives on the water at an elevation of 16 ft. and pays a fraction of what I do. There just seems no rhyme or reason to the increases. I just wish someone could explain the reasons for the differences in costs. Obviously it has nothing to do with living near the water or claims for damage.

By: joseph c

joseph c — Mon, 11 Dec 2006 04:36:04 +0000

Effective Jan. 1, 2007, Citizens Insurance (now the largest property insurer in FL, and the “insurer of last resort” where an increasing # of homeowners in coastal FL must go for property insurance since it’s not available from any private company) is raising rates 25-35%, and was scheduled to have another 56% increase in March. But he Mar. increase has been delayed until after a special legislative session in Tallahassee. But the CEO of Citizen’s is on record as saying that the 56% increase WILL occur; it just may be delayed or phased in over 2-3 years to ease the pain.