Home Buying in North Port>Question Details

Dreamhomesee…, Home Buyer in North Port, FL

Hurrican Katrina taught some hard lessons. Just how much insurance do I need for a $100K non waterfront home?

Asked by Dreamhomeseeker, North Port, FL Mon Aug 17, 2009

Many homeowners were told, they had coverage for Wind, but not for Rain. Some were told they had flood damage but not enough coverage. I currently live in a high rise apartment and have never looked at these types of situations before. (I have CoOp insurance but that's hardly the same thing).
How can I determine exactly how much coverage to buy to protect me from any and all disasters? I'm thinking, Wind, Flood, Fire, Theft, Lightning, Vandalism, Acts of God, Job Loss and/or Disability. . . Guess it shows I am a first time home buyer and am obsessed with covering every base? (lol)

Help the community by answering this question:


As a homeowner myself and originally from Connecticut I too made sure that I was covered as much as possible with insurance. You want to make sure that you have enough coverage on a FULL replacement value policy that would cover the expense to rebuild the house should god forbid it was totally destroyed. Make sure the policy has a wind mitigagion provision (most of the Florida policies now have them) and if flood insurance is necessary (a good portion of North Port is not in a Special Flood Hazard area and would therefor not require flood insurance. If flood insurance is needed then you would need to get a seperate flood insurance policy which can run you $400 per year on up depending on the home and area.. I have a great insurance agent that can walk you through the ropes when the time is right. I hope this helps

Jason Stevens, REALTOR®, GRI, ABR
Graduate Realtor Institiute
Accredited Buyers Representative
Real Estate Broker Associate
REOTrans Platinum Certified
Kevin Flynn Realty, Inc.
Cell - 941-662-0379
Email: jasonstevens@embarqmail.com
Home Office - 941-698-0973
Home Fax - 941-698-0973
Website: http://www.jasonestevens.com
0 votes Thank Flag Link Mon Aug 17, 2009
Insurance is based on the replacement cost of the property and depends on the amenities of the house. If everything is custom yo will want to insure it for more than if it was considered builders grade. We use replacement cost estiators when we do a quoe on a home to tr to get an accurate value.

If you would like a quote on a property give me a call and I will happily help you .

Christopher Lyon
We Insure Florida Inc
0 votes Thank Flag Link Mon Aug 17, 2009

Check out the website below. It should shed some light. You might consider talking to a few Insurance companies and get their take. Check out what Insurance your apartment building carries and go from there.


Good luck.

0 votes Thank Flag Link Mon Aug 17, 2009
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