A few weeks ago, I spoke to a woman who purchased a home in Citrus County, Florida. She and her husband were planning on retiring to Florida from New York. She was telling me how her home insurance has increased substantially since purchasing their home. With the concern of the rate continuing to increase, she just wanted to be done with the home and sell it fast.
I wanted to write on this topic not to scare people from moving. I want anyone considering the move to have an idea of what they could expect. This is important if they make the decision to move to Florida.
According to a Realtor Magazine article, States Where Home Insurance Cost Are Surging Highest, Florida has the highest insurance prices in the country. The prices are expected to increase more by the end of the year.
If you are planning to move to Florida, I want you to be informed of what you may expect. Floridians Lawsuit Reform wrote an article of the highest and lowest insurance rates by county. As a resident in Citrus County, insurance prices in my county are one of the lowest in the state. The 8th lowest to be exact.
If you are one of the many people planning on becoming a homeowner and moving to Florida, consider the following:
- If you are moving to the coast, check to see if you are moving to a flood zone. Rates could increase or coverage may be denied if there have been a history of three floods or more.
- Check to see if the area you are moving to has a history of crime.
- Contact several insurance companies to see who will give you the best rates.
- Go over the quotes by reviewing the cost and coverage. Some companies may give you a better rate by not providing you with coverage that is important to you.
If you have friends and family in the area, talk to them. They may be able to help you with your transition or answer any questions you may have. If you are purchasing your home with a Realtor, give them a call. They are there to help you.
Alternative Solutions
If you have a story that is similar to the woman I was trying to help, contact us. If you are ready to sell your home, reach out to us. We are ready to discuss what is important to you and come up with a solution. We buy homes for cash as well as provide creative solutions to purchase properties.
Just provide us with your contact information and property information by going to www.WilsonEstates.org. We will give you a no obligation consultation for free!
