Apparently our insurance isn’t that high.
 

According to a study by The NY Times, homeowners in Sumter County paid an average of $1,826 last year for insurance, 24 percent less than other counties with the same level of very high risk.

Broward County is $5579; Miami-Dade is $5451; Lake is $2331; and Marion is $2114.

Same level? You do realize you’re comparing coastal counties with central inland ones? Where is the same risk factors you speak of?

We are paying a lot more than that

And we are paying a lot less.

We were used to paying a LOT more in Arizona.

I just bought a CYV near Spanish Springs this past January. Our Home Owners Insurance is just under $2000.00 a year, 20 years old, 1300 sf. Much higher than our condo in Michigan. We had to scramble to get insurance for the closing. I have many months to shop around for a renewal policy. Any advice would be helpful.

Same here - I’m paying less than the Sumter County figure quoted here. I think having a newer home contributes to a lower premium.

When did Lake and Marion Counties become “coastal counties”?

The OP post clearly made mention/comparison to Broward and Miami Dade Counties....last I checked, they were still coastal counties! So again, where are the similarities in risk factors. I’ll leave the median home listing and purchase home values alone....for now

The NY Times used the phrase “24 percent less than other counties with the same level of very high risk.”

The Times did not say that Sumter was being compared to Miami and Broward. Sumter is not 24 percent less than Miami and Broward. It is about 65% less than those counties.

I put those counties in as comparison because people are complaining about the cost of insurance in Sumter County and they may have to move.

The NY Times also said that for Sumter, insurance costs are 0.4 percent of typical home values, much lower than average.

I’d like to add that this was an amazing interactive study that lets users check the insurance rates in every county in the country and compare insurance rates. I was shocked to see how low the insurance rates in Sumter County are comparatively and in fact, as they seem plenty high to me. And this doesn’t include the Homestead Allowance. It was interesting to check the insurance rates for every county where I’ve lived, around the country. No political content or bias in the article.

Tower Hill Insurance Exchange. Contact Fay at The Villages Insurance office. My 13 yr old Villa (1100 sqft) premium for 2024 is about $1250.

I pay $313 quarterly which is a slightly higher way to pay. The total premium would be less if I paid it all at once.

Your current premium doesn't sound all that bad to me. For sure T V should not be compaired to coastal counties. Apples to Oranges.

May I ask which insurance co you use? Thx!

Much factors into an insurance premium. I’m wondering if the older homes are built to a different/older construction standard. I.E.- not as robust to withstand a storms high winds.
We are closing on a new construction block house October in East Port/Shady Brook. I just tried getting a quote, but the automated system would only allow the start date 2 months out, I’m 3 months out. I’ll post back when the time comes on our insurance price.

The study was making the point that insurance has risen significantly around the country. States that have normally seen low insurance rates are seeing dramatic increases. So moving may not solve your insurance costs.