Insurance went way up can’t afford it?

Don't panic and don't rush to sell. There are steps to take before it gets to that point. Shop your insurance immediately. Get quotes from at least five different insurance companies. Rates vary dramatically between carriers, and the company that was cheapest last year might not be this year. An independent insurance agent who represents multiple carriers can run the comparison for you in one call. Increase your deductible. Going from a $1,000 deductible to a $2,500 or $5,000 deductible can significantly reduce your premium. You're trading a higher out-of-pocket cost if you file a claim for a lower monthly payment. If you rarely file claims, this is a smart move. Ask about discounts. Bundling home and auto insurance, installing a security system, having a newer roof, and being claims-free for several years can all reduce your premium. Some carriers offer discounts for wind mitigation features or updated electrical and plumbing. Contact your mortgage servicer and explain the situation. If your insurance is escrowed, the higher premium created a shortfall that's being spread over your monthly payments. Some servicers will let you make a lump sum payment to cover the shortfall instead of spreading it out, which can reduce the monthly increase. If you've exhausted all options and the insurance is still unaffordable, look into your state's insurance program. Many states have a last-resort insurer like Citizens Property Insurance in Florida that provides coverage when private carriers won't or when rates are prohibitive. Selling should be the last resort, not the first reaction to a rate increase.

I’m so sorry to hear about the unexpected increase in your home insurance—it’s incredibly frustrating when something like this happens and puts such strain on your budget. Please know that you’re not alone, and there are steps we can explore to find a solution that works for you. First, let’s look at your insurance policy. It’s worth reaching out to your insurance provider to ask for a review and shop around for competitive quotes. Sometimes there are discounts or adjustments you might qualify for that could bring the cost down. Next, we could connect with your mortgage company. They might have programs or temporary solutions to help, such as restructuring payments or adding the insurance cost into your loan. If those steps don’t resolve things, we can also explore other options together. For example, if you’re open to it, renting out a portion of your home could help offset costs. Additionally, I’d be happy to connect you with a financial advisor or housing counselor who can offer specific strategies tailored to your situation. Selling your home is always a last resort, and if it does come to that, I’ll be here to guide you every step of the way to ensure the process is as smooth as possible and helps you get back on solid ground. Please don’t hesitate to reach out to me—I’m here to support you through this.

Have you shopped around for a new home insurance company? Given that Florida is consistently reassessing due to natural disasters, unfortunately this is the new normal. Keith Jean-Pierre Managing Principal The Dapper Agents Operations In: NY, NJ, FL & CA

Florida homeowners insurance has increased dramatically across the state, and Spring Hill in Hernando County is no exception, with many homeowners seeing premiums double or more over the past three years due to reinsurance costs, litigation history, and storm exposure. If your current premium is no longer manageable, the first step is shopping the market through an independent insurance broker who can quote multiple carriers simultaneously rather than a captive agent limited to one company. Upgrading your roof, installing hurricane shutters or impact windows, and improving your wind mitigation rating can produce meaningful premium reductions in Florida because carriers price heavily on wind exposure and roof age. Citizens Property Insurance, the state-backed insurer of last resort, remains an option for homeowners who cannot find affordable private market coverage, though it comes with its own limitations and depopulation program pressures. If insurance costs are making your current home financially unworkable and you are considering selling, this is actually a market conversation worth having because buyers and appraisers are now factoring insurance costs into purchase decisions. Understanding all your mitigation and carrier options before making a sell-or-stay decision gives you a clearer picture of the real numbers. Kevin Neely & Kaitlynd Robbins | K2 Sells, Keller Williams Elite Partners

You’re not alone! Florida homeowners have seen major increases in insurance costs. Start by getting quotes from multiple carriers, reviewing your wind mitigation credits, and increasing your deductible if possible. If that doesn’t help, consider Citizens Insurance or explore bundling policies to save. Making updates like installing impact windows or replacing an old roof can also lower premiums. As a local real estate professional, I can connect you with trusted insurance agents who specialize in Southwest Florida homes.

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Hi, have you shopped around to different insurance companies? I would look at other insurance companies before you decide to sell your home. I would hate for you to lower your coverage to get a cheaper policy then something happen. Shop around.