Hi folks,
For those who don't know, FL homeowners insurance is very expensive. We pay ~$2400 for $220K of insurance. We've got our highest deductible (which is just $2500) but we have a separate hurricane deductible. Currently, it's at 2% (or $4.4K). If we go up to 5% ($12.1K) we save $259 per year. We've got plenty in our emergency fund, (~25K) but I'm not sure if it's worth taking on the risk. If I did my math right, we'd come out ahead as long as we didn't have a claim within the next 16 years.
Any thoughts?
Thanks!
Dave
