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This site is completely free and there are no costs. Please enjoy and provide feedback.Mines about $3200, but I live in the tonado belt.My home owners policy is now over $2900/year.
Maybe dropping ins isn’t a good idea then, ours is around $2K a year not financing, biggest reason we’ve kept ins is the Oak trees over the houseNot getting insurance is one thing if you have built your own fund out of the proceeds you would have paid to them originally, but insurance covers much more than just the house. It covers loss of use (they fund you to live someplace else while it's being rebuilt), all your personal belongings are covered, and then there's the cost increase on materials over the years. Consider this, if you had to rebuild your house now, don't you think St. Pete building would force you to comply with updated regulations to bring everything up to code? I promise you it'd be a nightmare. One of my clients lost their home (60% destroyed) and he's on year 3 waiting for building permits and the county to approve his plans to rebuild. He bought the place in 2005 for $600k, and it's valued at over $3 million, and the cost to rebuild will surpass $4 million. His insurance company has been paying for the condo he's staying in for the past 3 years. His out of pocket will be about $300k for upgrades, but when finished, it'll be worth more than $5 million. He plans to finish it and then sell it, buying something smaller and away from the water.
My FIL owns an insurance agency, and he said premiums are going up across the board. I haven't seen mine yet, but his warning doesn't give me a good feeling.
If he did, I don't remember.Did he happen to mention the direct cause?