If no lender is involved, a homeowner is not required to have any insurance whatsoever. However, beware that you are totally at risk if something were to happen.
If I can be of service to you, please feel free to call me direct at 813-716-3997.
I have several units listed. Please call me directly to answer any of your questions or to submit offers at 727-688-8885 or 1-866-888-4565 Thank You! Helen Marie Lee Keller Williams Realty Suncoast, Search and Save anytime at http://www.HelenMarieLee.com ( This market area information is given in response to question posted, if you are already working with a Realtor please disregard and please have your excellent agent contact me. If you are not working with an agent, I do accept new customers. Thank you.)
The right waterfront (point) location would merit the risk. If the improvements exceed the land value, you should take care regarding your financial exposure. As others have stated, it is the lender who REQUIRES the insurance. Many who have paid off their mortgage do maintain home insurance coverage.
Need more 'beaches' information just give a call.
Annette Lawrence, Broker/Associate
Remax Realtec Group
I live on the beaches and work out of our Indian Rocks Beach office and would be happy to be of assistance in your home search. Feel free to call me any time (727) 569-2785.
Century 21 Beggins Enterprises
1511 Gulf Blvd.
Indian Rocks Beach, FL 33785