Advice Topics
- Buying (206)
- Selling (216)
- Renting (41)
- Market News & Trends (12)
- Finance & Legal Info (97)
- Tips & Advice (98)
- Working With an Agent (54)
- Marketing (4)
- Investing (16)
- Affordable Housing (19)
- Green Housing (2)
- Schools (1)
- Remodeling (32)
- International Real Estate (8)
- Terms & Definitions (27)
- Home Loans (16)
Top Contributors (View All)
Find a Top Real Estate Agent Near You
Insurance went way up can’t afford it?
My home insurance went up $300/month. It’s so unexpected and out of my budget. Now I can’t afford my house payments. What are my options? I really don’t want to sell, but am I forced to since I can’t afford this?
Asked By Maria | Tampa, FL | 488 views | Finance Legal Info | Created 11 months ago
Answer(4)
Holly Fullerton
Keller Williams On The Water
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.
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.
- 11 months ago
Helpful (1)
Unhelpful (0)
Amanda Courtney
REP Realty Group
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.
- 1 month ago
- Helpful (0)
- Unhelpful (0)
Are you ready to find a top agent near you?
Browse profiles of the highest ranked agents in your area and find one that meets your specific needs.
Get some other insurance quotes...
- 6 months ago
- Helpful (0)
- Unhelpful (0)
Tabitha Westmoreland
RE/MAX Preferred Properties
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.
- 10 months ago
- Helpful (0)
- Unhelpful (0)
Related Questions
-
If I sell my home, will my boyfriend receive part of the sale?
I wanted some clarification before deciding to put my home on the market. My boyfriend and I purchased a home together several years ago. We split up so he signed a quitclaim deed but is obviously still on the loan. If I want to sell my home that I have been making payments on myself for the last 8 years. Does he need to sign anything and would he be entitled to any of the sale money?
- Asked by Eileen K.
- 1427 views
- Finance & Legal Info
- Updated 1 month ago
-
Can the new owner of the rental property I live in kick me out?
The rental property that I'm living in now was sold to a new owner. The new owner wants to kick me out, remodel the unit, and re-rent the unit for a higher price. Is that legal?
- Asked by Mario S.
- Los Angeles, CA
- 1424 views
- Finance & Legal Info
- Updated 3 years ago