Cost of Living in Florida

 

 Cost of Living in Florida

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Cost of Living in Florida
Florida Cost of Living
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Association Totals
 
Fees & Assessments Tracked at:
 
 HOAs, COAs & POAs: 3550
 CDDs: 577
 Condo Hotels: 63

Florida Home Insurance

    Florida's property insurance market has gone through the worst crisis in history, with property insurance premiums at historic highs.  The factors responsible for the current situation include the multiple hurricanes and tropical storms in 2004 and 2005, together with the reactions of certain private insurance companies.  In recent years, certain insurers have adopted programs of policy cancellations and non-renewals in Florida, restricting the availability and affordability of residential property insurance.

  Understandably, homeowner insurance premiums are significantly higher in coastal regions and lower inland.   The highest premiums are in the southern coastal counties, Broward, Collier, Lee, Martin, Monroe, Miami-Dade, and Palm Beach. 

    Florida requires insurance companies to offer discounts for homes protected against damage from hurricane winds.  The well publicized house in Gilchrist, Texas that remained standing after hurricane Ike landfall (see picture above) serves as dramatic proof that  wind mitigation techniques can work.  In Florida, wind mitigation discounts can be substantial.   We found average discounts for maximum wind mitigation to be greater than 51% in the seven southern most Florida coastal counties.  Wind mitigation upgrades to your home are a great investment with quick payback.  Click here to learn more about Florida
Wind Mitigation.

    Estimating homeowner insurance premiums across any given county is a difficult proposition, as private company pricing is all over the map.  To simplify the process and make it meaningful, we followed a model of  basing rates on a standard (sample) house, averaging premiums across the insurance companies in each county, and scaling the result to bring it into alignment with selected house prices.

    Feel free to select and complete the Inquiry form on the left if you would like more unbiased information about insurance premiums around the state.

   

Florida from our Lanai

Florida Homeowner Insurance Estimate
 
County: Pasco  
House Type: Single Family  
Estimated Dwelling Cost: $300,000  
Lot Size: 1/3 acre  
 
Estimated Average County Insurance Premium*: $2,209  

*For illustration purposes only. Florida masonry home, with current dwelling replacement value of $300,000, $500 non-hurricane deductible, a 2% hurricane deductible, minimum discounts for wind mitigation features.

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Article Archive

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Florida Gardening and Yard Care

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->Florida CDDs

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->Florida Condo Hotels

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Florida Home Maintenance

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->Florida Population Decline
 
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