[Catalina36]

Originally Posted by retiredguy123

My insurance with Progressive is $829, including sinkhole coverage.

You obviously did not get your increase this year 2022. Sorry but there is no way your getting homeowners insurance with sinkhole coverage for $829.00.
More likely your sinkhole coverage alone is $829.00 for 2022.
I recently spent 3 days getting quotes with and without sinkhole coverage. First off, 85% of the insurance companies are not even offering sinkhole coverage and if you do find one then the cost is through the roof. You are most likely are talking about "Catastrophic Ground Coverage Collapse' which all insurance have to include in their homeowner policies mandated by the State of Florida. There is a big difference in coverage between the two. Google it and you will know!!

[MrLonzo]

Originally Posted by Catalina36

I found a PDF on line called "Florida Homeowners Property Stability Report"
There are 67 counties in the state of Florida. This report was dated July of 2022.
This report stated the average cost of homeowners insurance in all of the counties.
Sumter County has the lowest cost of homeowners insurance in the State., follwed by Marion County and then Baker County.

Thank you for that citation! The report shows Miami-Dade, Broward, Palm Beach, Monroe, and Martin Counties with average homeowners insurance premiums over $4,300/year. It appears the news report I heard was based only on south Florida rates. Yes, Sumter County had the lowest rates at $1,438.

[bimmertl]

Originally Posted by RiderOnTheStorm

I think you have bad information. We have a $500K+ designer home and our annual insurance is about $1400. It includes full replacement, sinkhole and termite protection. Suggest you shop around.

Hard to believe you have termite protection. HO policies pay for "direct and accidental" damage. Termites cause damage over time. Never heard of an HO policy that covered termite damage. It's usually specifically excluded.

My State Farm policy states losses caused by "birds, vermin, rodents, insects or domestic animals" are not covered.

[kkingston57]

Originally Posted by MrLonzo

Thank you for that citation! The report shows Miami-Dade, Broward, Palm Beach, Monroe, and Martin Counties with average homeowners insurance premiums over $4,300/year. It appears the news report I heard was based only on south Florida rates. Yes, Sumter County had the lowest rates at $1,438.

After seeing destruction in the Fort Myers area, it is clear as mud as to why there rates are 3X higher. Lee, Collier and Charlotte counties are probably the same as SE Florida counties. Insurance in Central Florida is getting harder to get and it appears some insurance companies are going to try and charge people more in the inland areas so that costs on the coasts are more reasonable. This has already strarted.

[keepsake]

We are just starting to get the renewals where the insurance company has had a chance to adjust their rates from Ian. No claims here. 2021 was $2500. 2022 was $3500. 2023 renewal just came in at $7400. No changes, no claims.

[JSR22]

Originally Posted by keepsake

We are just starting to get the renewals where the insurance company has had a chance to adjust their rates from Ian. No claims here. 2021 was $2500. 2022 was $3500. 2023 renewal just came in at $7400. No changes, no claims.

Our insurance bill doubled from last year to $6400 from AAA. Switched to State Farm and it is lower than last year's bill.

[GpaVader]

Also, keep in mind the age of the house will have something to do with it. If you are buying a new property, the costs are significantly less and you don't have to have your roof inspected....

[chet2020]

I don't pay close to $4,500 in Florida, but I will say my home insurance here is almost exactly 3X the cost of my home insurance up north. My northern home is worth at least double what my TV home is worth. Home insurance rates are much more expensive in Florida, no doubt.

[drbales]

Just received my 2023 bill from Progressive. Designer home in St. James. 2022 was $1545 with sinkhole, replacement cost and $500 deductible. 2023 went up to $2464. 60% increase. Will be shopping around but not great expectations.

[Babubhat]

Agent today said Progressive offering aggressive pricing on new homes in tv starting Nov 28 due to hurricane rule