Home Buying in Huntington>Question Details

Kieran Rodge…, Real Estate Pro in 11747

I have a client who is buying a condo in Hollywood Florida... I understand and know that we need a master insurance policy. We are getting different

Asked by Kieran Rodgers, 11747 Thu Nov 15, 2012

types of responses for dwelling insurance for the contents of the condo...is this optional...? I might need it in order to clear the loan...trying to figure this out , please help !

thank you in advance !

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2
Annette Levinson’s answer
For the master insurance policy, you need replacement of the building. You also need hurricane coverage (wind) and fidelity (fro fraud on employees). For the buyers' personal home owners insurance, they do not need it for the mortgage but for the rules and regulations of the condo association. They will need replacement value (including the cabinets and appliances) plus liability of at least $100,000.
When I bought my condo in WPB, I had alot of difficulty with the insurance agents not knowing what a condo was.
0 votes Thank Flag Link Thu Nov 15, 2012
Call Denise Kelly 631-813-0203 or dkelly.ins4u@gmail.com; she is my insurance guru!
0 votes Thank Flag Link Thu Nov 15, 2012
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