SW Florida homeowners insurance

[Brad_Ct]

We are going down to the Cape Coral/Punta Gorda area next month to start looking in person for houses. Been looking on Zillow for 6-8 months and contacted a realtor a couple of weeks ago to get listings. Long story short, I called my insurance company (USAA) that I have used since 1976 to get a quote on a house we are interested in so I had some idea of costs. They quoted me $4,900. On a 2000sqft house with a pool and on a canal. This seems very high to me, I know there are a bunch off members living in Florida and I’m looking for some input if that is a normal yearly premium.

 

[Dean P]

I'm in St. Petersburg. Taxes on 1800# on a canal (no pool) are $4600. Home and flood Ins ~$3700.. Hope this helps.(??)

 

[Gym]

My aunt lived down there for about 20 years. After several hurricanes her insurance nearly tripled and they capped the amount of coverage. She ultimately moved back to her roots in NH. Punta Gorda is a beautiful location both for living and boating.

 

[FLBulldogger]

We are going down to the Cape Coral/Punta Gorda area next month to start looking in person for houses. Been looking on Zillow for 6-8 months and contacted a realtor a couple of weeks ago to get listings. Long story short, I called my insurance company (USAA) that I have used since 1976 to get a quote on a house we are interested in so I had some idea of costs. They quoted me $4,900. On a 2000sqft house with a pool and on a canal. This seems very high to me, I know there are a bunch off members living in Florida and I’m looking for some input if that is a normal yearly premium.

@Brad_Ct We have been in FLA since 2010 after moving down from Northern VA, I to have banked with USAA for over 25+ yrs and had their homeowners policy when we first got down here, after the first year the policy almost doubled and they started using a 3rd party company (ASI) as they informed us they no longer soley underwrote FL homes. We have found it best after buying and selling 4 homes to deal with local insurance agents to get the best deals on homeowners insurance. Lots of things go into the insurance down here to include age of the house, homes built prior to 2001 or 2002 that don't have proper wind mitigation will cost more, flood insurance if you are in a flood zone that requires you carry it (can be very expensive" and last but not least the age of the roof. We have just recently bought a house near the areas you are looking at and have a couple things we have found out that may influence your choices, 1. If the house is older than 15 yrs old, then there is a good chance that the insurance companies will require a new roof be put on, depending on the type of roof that is on the house, rule of thumb we have found out is on a 3 tab (flat shingle) roof 15 yrs is the max, a 30 yr dimensional roof will get you 20yrs. The sneaky thing to watch out for is that we have been told by agents and insurance folks that even if you get a home inspection and the roof is declared solid that the insurance at their discretion may inspect the roof "after" you close and then declare you must replace the roof, sticking you with a very costly repair (on a 2000 sq ft home with about 2500 under roof it could cost you $12 to $20K depending on the roof)-So please be aware of this. If you are going to buy new then its not a problem, but don't assume that if the home has a "20 or 30 yr roof" that the insurance companies won't demand they be replaced after you close. 2. Also, in the Cape Coral area make sure you know the status of the "special assesment" on water and sewer. Most listings will tell you if they have been paid, some don't and it can cause your taxes to be higher. I'm sure a good real estate agent will advise you but wanted to make sure you were aware. If you need any other info just PM me I can tell you what we paid for homeowners on a new home and who we used or if you have anyother questions, I'm sure the other SW FLAers on here will chime in to help also. This is just our experience in buying down here in the last 60 days. Good Luck!

 

[Ratket]

That phrase “ Special assessment” is a fancy phrase for “ Bend the F**K OVER”.

 

[Adrian @ JB Solutions]

I have guy that gets the best prices around. PM me if interested for contact info. My house is 1700sq ft with a pool, not by water, and not in flood zone. Although I do live on a peninsula. Insurance is $650ish. We fought the flood zone as about 3 feet of my property that slopes down is flood. If we had it, I think it was 2k a year.

 

[Brad_Ct]

@FLBulldogger Thank you, that information will be very helpful during our search.

 

[Coryd]

Not sure if you're aware but there's a big difference between Cape Coral and Punta Gorda (about an hour's drive or more). I've lived in Englewood for a little over 3 years so I can't say firsthand what it's like to live in Cape Coral but, from what I've heard, that city is like living in a giant HOA with a ton of bullsh*t rules. You won't have any easy or quick access to coastal waters and beaches, by car or boat. I would say unless your job is there or you're not interested in spending time at the beach or boating outside of inland waters, look elsewhere. Punta Gorda is better, more of a small town feel, but still not very close to the Gulf and beaches (it's more inland on Charlotte Harbor). It doesn't look very far on a map but it takes me 45 minutes to get to Punta Gorda and I live about 15 min south of Englewood Beach. So if you want to be fairly close to beaches and boat ramps with quick access to the ICW and Gulf, look more towards Englewood, Rotonda (although super strict HOA there), Placida areas. Real estate prices are very reasonable in those areas, as well as taxes and insurance. I live across from a canal in a 4bd/2ba 2,300 sq ft house that's around 10 yrs old, with a pool, and I pay $1,600/yr for homeowner's, $600 for flood, and $3,200 for taxes. I use a local agent for my insurance.

 

[FLBulldogger]

Not sure if you're aware but there's a big difference between Cape Coral and Punta Gorda (about an hour's drive or more). I've lived in Englewood for a little over 3 years so I can't say firsthand what it's like to live in Cape Coral but, from what I've heard, that city is like living in a giant HOA with a ton of bullsh*t rules. You won't have any easy or quick access to coastal waters and beaches, by car or boat. I would say unless your job is there or you're not interested in spending time at the beach or boating outside of inland waters, look elsewhere. Punta Gorda is better, more of a small town feel, but still not very close to the Gulf and beaches (it's more inland on Charlotte Harbor). It doesn't look very far on a map but it takes me 45 minutes to get to Punta Gorda and I live about 15 min south of Englewood Beach. So if you want to be fairly close to beaches and boat ramps with quick access to the ICW and Gulf, look more towards Englewood, Rotonda (although super strict HOA there), Placida areas. Real estate prices are very reasonable in those areas, as well as taxes and insurance. I live across from a canal in a 4bd/2ba 2,300 sq ft house that's around 10 yrs old, with a pool, and I pay $1,600/yr for homeowner's, $600 for flood, and $3,200 for taxes. I use a local agent for my insurance.

I agree entirely with @Coryd and his information, although the water around the Pine Island area is very nice, IMHO the further north towards Anna Maria Island the nicer the water, we've launched out of Pine Island and Placida and I would have agree the water is much nicer, if you like to fish then there is great fishing in Port Charlotte, water just isn't that nice but it's world class tarpon during the season. Englewood is a nice town, we live in Rotonda now in a short term rental and it's nice but to many rules, and it's a PIA to get out of the damn circle....Punta Gorda is nice but there are sections that are really restrictive so make sure you check on the HOA rules. Again good luck and if I can be of help just let me know.

 

[Coryd]

I agree entirely with @Coryd and his information, although the water around the Pine Island area is very nice, IMHO the further north towards Anna Maria Island the nicer the water, we've launched out of Pine Island and Placida and I would have agree the water is much nicer, if you like to fish then there is great fishing in Port Charlotte, water just isn't that nice but it's world class tarpon during the season. Englewood is a nice town, we live in Rotonda now in a short term rental and it's nice but to many rules, and it's a PIA to get out of the damn circle....Punta Gorda is nice but there are sections that are really restrictive so make sure you check on the HOA rules. Again good luck and if I can be of help just let me know.

I haven't been down around Pine Island yet, North Captiva is about as far south as we've gone. We launch at the Placida Park ramp about 99% of the time and either go out around Boca Grande or head up to Stump Pass. The water around Stump Pass is usually very nice too. Haven't been up as far as Anna Maria Island, Snake Island in Venice is cool and water up there is usually nice too.

Anyway, good luck with your search and feel free to let me know if I can help in any way as well.

 

[n1111z]

I'm in St. Petersburg. Taxes on 1800# on a canal (no pool) are $4600. Home and flood Ins ~$3700.. Hope this helps.(??)

These prices are about right for the Cape. While we have used USAA since 1989 we were unable to use them for our CC house as it was a vacation home. We use a company called Frontline. We recently discovered water damage under our floor during a remodel and they cut us a $40k check no questions asked. We are 30 minutes by boat from some of the world's most beautiful beaches and they are mostly deserted as they can only be accessed by boat. Also we desired quick access to the international airport.
We picked CC over PG because we prefer city over town. CC is almost 200k population, big and noisy. Yes there are rules, mostly concerning fresh water usage and application of lawn chemicals. We are situated in the middle of a delicate estuary and the more rules, the better. Hoping to postpone an ecologic disaster.
PG is more the small town feel which many prefer. Not much beach access though.

 

[Brad_Ct]

@Coryd Thanks for the tip on CC as far as restrictions, it looks like PGI is the same way and that will not work for us. So far we are looking at ten houses in Port Charlotte, two in PG, and one in Alva. Alva is way up the Caloosahatchee river but the house is on almost a acre of land with no restrictions at all.

 

[veedubtek]

@Brad_Ct - you better say hi while you're here, you've got my number still.

I live in PGI, it's not as bad as it seems really. Of course I have a shop for my toys/hobbies. PG is definitely small town, which is perfect for us. Very small business oriented, with an awesome chamber and more events than you could ever attend. Our canal dumps into the Peace River, takes us 45 minutes to get to a good beach (boating or driving really). PC will be pretty much the same by boat, little shorter drive. No matter where you go, one thing we didn't know/overlooked coming here - you will absolutely want a pool home with a nice cage. Our first one didn't, we sold it after 5 months. All our time is spent in the Lanai now.

And, as said a few times - get a good local agent. Insurance is a crazy game here, you need an insider. I also know a real good one now if you need one.

 

[Mjones]

ok.... so I do property claims in Florida and there are only a few companies that are worth anything. Amica, USAA, Florida Farm Bureau and Florida Family. Remember you get what you pay for..... cheap means coverage limitations. When you buddy says use this company, he does not have a clue as the real truth. Insurance is nothing until you have a claim. Go cheap get cheap. Spend the extra because it's a matter of time before we get hit with a good hurricane. The earth is angry and you can see it getting worst every year.

 

[Brad_Ct]

@veedubtek I was planning on getting in touch with you while we were there. I need to return your 7-5 trailer adapter the shipper borrowed from you?. PGI sounds really nice but I don’t think I can deal with the restrictions, you have a unique situation in that you have your shop. The only houses we are looking at have caged pools, that is one of my wifes must haves.

 

[Brad_Ct]

Update: We didn't buy any of the houses we had on our list and ended buying one off the water in Alva, it's only 8 miles from the Sweetwater Landing Marina and I know there is at least one other Yamaha Jetboat there because I saw the stern of it in the storage building.

Anyway house was built in 2004 and is 2,300 sq ft with a caged in ground pool, a 2 car attached and a 3 car detached garage on almost 1 acre of land. USAA wants $3,400 to insure it but went to a local agency that a friend who owns a house in Port Charlotte uses and was quoted $1,500 for the same coverage. Also it's not in a flood zone so no flood insurance.

Had the home, septic, roof, and wind mitigation inspections done while we were there and the only issue is that the roof is original and needs to be replaced.

Let the fun begin!!!

 

[n1111z]

Congratulations! You are gonna love living in Paradise

 

[Coryd]

Congrats!

 

[14SX190]

Wish I searched this topic earlier

My agent called to tell about lower Citizens rate. Paid the 100 dollar 4 point and failed for 18yo flat roof.
I assume they should of known

I asked if weather sealing was option as it looked worn and dirty with cracks and crumbles when they came. He said to replace it and that was it but if it looked bad to weather seal it and maybe get a few more years but Citizens prefers new.

So I seal it pass 4 point. Get 2 to 3 years more but Citizens will flag me for non renewal.
WTF!

So pissed I sealed a good roof and still stay with more expensive policy as I have had no problems with them for 3 years.

I want to change if I feel comfortable my good flat roof is not my Achilles heal but I really want to change agents....

@Brad_Ct We have been in FLA since 2010 after moving down from Northern VA, I to have banked with USAA for over 25+ yrs and had their homeowners policy when we first got down here, after the first year the policy almost doubled and they started using a 3rd party company (ASI) as they informed us they no longer soley underwrote FL homes. We have found it best after buying and selling 4 homes to deal with local insurance agents to get the best deals on homeowners insurance. Lots of things go into the insurance down here to include age of the house, homes built prior to 2001 or 2002 that don't have proper wind mitigation will cost more, flood insurance if you are in a flood zone that requires you carry it (can be very expensive" and last but not least the age of the roof. We have just recently bought a house near the areas you are looking at and have a couple things we have found out that may influence your choices, 1. If the house is older than 15 yrs old, then there is a good chance that the insurance companies will require a new roof be put on, depending on the type of roof that is on the house, rule of thumb we have found out is on a 3 tab (flat shingle) roof 15 yrs is the max, a 30 yr dimensional roof will get you 20yrs. The sneaky thing to watch out for is that we have been told by agents and insurance folks that even if you get a home inspection and the roof is declared solid that the insurance at their discretion may inspect the roof "after" you close and then declare you must replace the roof, sticking you with a very costly repair (on a 2000 sq ft home with about 2500 under roof it could cost you $12 to $20K depending on the roof)-So please be aware of this. If you are going to buy new then its not a problem, but don't assume that if the home has a "20 or 30 yr roof" that the insurance companies won't demand they be replaced after you close. 2. Also, in the Cape Coral area make sure you know the status of the "special assesment" on water and sewer. Most listings will tell you if they have been paid, some don't and it can cause your taxes to be higher. I'm sure a good real estate agent will advise you but wanted to make sure you were aware. If you need any other info just PM me I can tell you what we paid for homeowners on a new home and who we used or if you have anyother questions, I'm sure the other SW FLAers on here will chime in to help also. This is just our experience in buying down here in the last 60 days. Good Luck!

I have guy that gets the best prices around. PM me if interested for contact info. My house is 1700sq ft with a pool, not by water, and not in flood zone. Although I do live on a peninsula. Insurance is $650ish. We fought the flood zone as about 3 feet of my property that slopes down is flood. If we had it, I think it was 2k a year.

Any chance getting his contact info?

 

[Brad_Ct]

Reviving this to see if anyone has recommendations. We have been using Tower Hill Insurance since we bought our house here, first year premium was $1,500, second years was $2,000 and next year they want $4,500. I have inquired about a alternative company but it sounds like pickings are very slim and premiums are ridiculously high.