House insurance in florida/sarasota

You don’t have many options. There are a lot of companies that have pulled out of Florida or have gone out of business. You may want to see what companies will actually write a policy. Depending on the age of the home, location to the water you may not find any company willing to insure it ( at which case you’d be stuck with the state backed Citizens). Best advice is to call an agent and they can shop it.

 

Depending on home value, second home status, and net worth I’d recommend PURE over anyone else. If you’d like an agency to discuss with PM me and I’ll send you a contact.

 

I would agree with that. I have PURE as well and they are great.

 

Good luck!

As a long time resident I can tell you with 100% certainty no matter who you pick they will increase your rate by nearly 100% the following year. I change my insurance company almost every year. They all give you a "reasonable" rate to get you signed and then try to bend you over come renewal.

 

I have Frontline. They are terrible.

 

I have had State Farm for over 10 years for a house in Bradenton. all was good until this year when it doubled. I may be looking as well.
If you aren't aware there are a few things that are VERY important. Whether the house is either built to the most current code ( I think it was 2002) or a wind mitigation report. They also look at the type of roof you have. They typically get on google earth and figure that out for you. It is also important how far away you are from a fire station. I have found it best to have all of this information ready before getting quotes.

 

I’m probably late in answering but if you can qualify for USAA call them. They seem to be the most stable for price in comparison to most companies insuring in Florida at this time. The insurance game is crazy here. I know that all insurance companies expect residential roofs to be under 15 years old, water heaters under 10 years old, and the home location having never had a sink hole within 20 miles radius. Some companies have left homeowners scrambling for coverage with little notice. Good luck! While USAA has raised my rate a bit each year it is nothing in comparison to my neighbors with other companies. I’m in Celebration, Florida.

 

We use State Farm in the 34239 zip (2 blocks from the bay ) in Sarasota for our homeowners. We have windstorm through the state which is Citizens I believe. State Farm also has my 3 vehicles. ~ 13k or 14k all in.

 

I have USAA for homeowners. THEY ABSOLUTELY WILL NOT COVER WIND. So I'm covered for fire, liability and that's about it. My premium payment is a gift to USAA. I may drop it totally.

 

Hmmm I have coverage for hurricane from USAA….had three other insurance companies over the years and settled for USAA. About 4k lower than the rest. Here is a sample of my coverage:

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I don't see wind. It is separate.

 

They refer to windstorm….in this neck of the woods most damaging winds come from tropical storms,tornados and hurricanes. Language is pretty boiler plate but worth a call to flush the interpretation out just in case.
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I have American integrity for the past 12 years in NE Florida... zero claims.
Just received a letter saying they are dumping me "Reduction in high concentration area due to catastrophe exposure management"
What the hell

 

They DO cover wind and hurricane damage on my policy. In fact, I receive a “Windstorm Loss Mitigation Credit” of $336.18 as an annual premium credit as an acknowledgement of the installation of fixtures to reduce the amount of loss in the event of a a windstorm. In other words I had a $22,000. Roof installed and insisted on hurricane clips and proof that it was all secured to the structure in such a way that it is secure and meets current Florida code.

One thing I learned when I moved to Florida from the Pacific Northwest is that the very minute a storm receives a name, the insurance deductible shifts to a less favorable structure (understatement) if a claim is made.

For the casual onlooker wondering why the insurance discussion is taking place, Florida homeowner’s insurance has, in many cases become a nightmare of unexplainable cancellations and ridiculous rates.

 

There should be an explicit Wind Damage rider on your policy that has a separate premium quote and a deductible. Last time USAA quoted me wind in Pensacola, the wind premium was $7,000 with a $10,0000 deductible.

 

Flood too!

They don't make you get it if you aren't in a designated flood zone but most people aren't aware that most policies don't cover flooding here.

 

Season's 2004 and 2005 had a fair amount to do with the debacle.

Re Dale's comments re wind, do double check (but you read to be a pretty savvy on FL insurance) as every coastal policy I've seen has three distinct "buckets": wind, flood and "general" (the kind you get inland).

One thing I have found over the years is that a good independent broker can be a godsend; many "major' carriers just don't understand coastal...so one either is paying waaay more than they should or...they believe they have a great rate and find out, when they do have to file a claim, the named storm carve outs and/or other restrictions leave them a little "bare".

 

I’m a weird duck. I read insurance policies and so should you. Don’t just read the binder page. Read it all.


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