Home Buying in Orange Beach>Question Details

Adagwen, Home Buyer in Orange Beach, AL

How much is insurance on a 400 sf condo on the beach..just a ballpark figure.

Asked by Adagwen, Orange Beach, AL Tue Jan 25, 2011

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Usually your condo fees will include the insurance that covers the building and is most often referred to as "from the studs out". Content Insurance will cover "from the drywall in" and your contents for as low as $400 per year.

Some of the condo associations have decided to eliminate the insurance to keep the condo fees low so be sure to ask if insurance is included in the fees. In this case, check with a local insurance provider that is knowledgeable of the area.

Hope this helps.

Francine Turner, Realtor
ReMax of Orange Beach
251-979-7053
francineturner@remax.net
0 votes Thank Flag Link Tue Jan 25, 2011
Adagwen,

A local insurance agent familiar with Gulf Shores or Orange Beach can quote you on a HO-6 Condo Insurance Policy if you are looking at a complex with a POA (Property Owner's Association) and monthly condo dues.

An HO-6 policy is the form used for condominium insurance when the building is covered under the POA insurance policy. The condo policy will provide for coverage from the interior walls into the unit and for personal property held within the dwelling. This policy will usually also provide liability coverage for the owner.

Teresa King
RE/MAX of Gulf Shores
http://www.CoastalAlabamaProperties.com for Condo Foreclosures and Luxury Homes
0 votes Thank Flag Link Tue Jan 25, 2011
Monthly condo owners association dues usually cover insurance for your condo as far as replacement of the building from storm damage, fire, etc. Content insurance coverage may be what you are asking about. This would be a separate policy from your condo association for your interior coverage.

Your interior coverage would include items such as an interior fire in your unit, water damage from plumbing leaks, theft, etc. An insurance agent is your best source and would be able to provide you with an accurate quote. Strictly 'ballparking' what some of our clients report they pay for their condo is a cost of about $1000 - $1500 a year depending on the replacement value of their contents. Your findings may be different, so be sure to call an insurance professional.

Teresa King
251-223-4343
RE/MAX of Gulf Shores
http://www.CoastalAlabamaProperties.com for Condo Foreclosures and Luxury Homes
0 votes Thank Flag Link Tue Jan 25, 2011
Try contacting any local insurance company and provide them with the property address.
0 votes Thank Flag Link Tue Jan 25, 2011
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