About Homeowner's Insurance in Florida
As a homeowner for 12 years in Florida, I have seen homeowners insurance rates go up and down during this last years.
When you are looking for homeowner's insurance rates, ask you agent what the insurance covers with the cost you are paying. Price can vary significantly depending of type of insurance you are buying.
Mortgage companies require homeowner’s insurance when you buy a house. As a Florida realtor I suggest you to have a wind mitigation certificate to lower the insurance cost. You can save a few thousands and the wind mitigation cost is about only $250 in Florida.
After Hurricane Wilma hit South Florida in 2006, cost of homeowner's insurance increased almost 50% in FL. Since then the prices are getting lower and more affordable. Some insurance companies closed and Florida residents had a hard time trying to get a new insurance for their homes.
The basic homeowner's insurance usually does not cover your furniture or personal belongs. There will be an extra cost to include that on your insurance.
Homeowner's insurance does not cover flood either. A separated flood insurance will be necessary if you live in Florida specially in evacuation zones.
When buying a condo in Florida, the insurance is usually included on the maintenance fee costs. Most of times it coves roof damages and external problems to the building.
It is always important to ask for different quotes from different companies when searching for the best homeowner's insurance cost. Make sure you know everything that is included and if there is any deductible fee to use the insurance in case you need it.