The pricing of your policy will depend on many factors - age of the structure, flood zone or not,
hurricane readyness (high impact windows/doors or shutters), how young your appliances are, the size of the building, age of the roof and more.
Also, in FL, insurance companies do their own tests - 4 point, roof, termite etc. inspections.
These help reduce the price of your policy. As you are buying, you can talk to the inspectors,
and find out what you could change in your home in order to get to better insurance rates, once you purchase.
In a flood zone, ask your seller for the elevation certificate - if the house sits higher, you
flood insurance policy will less expensive.
Hope this helps,
Beachfront Realty, Inc.
If you a are looking into condos it is not an issue, as your inusrance is covered in the condo maintenance, and you only need to cover the contents of your unit which is a minimal cost.
As for homes, their are companies that insure do insure, and it you are in a flood zone you will need flood insurance. You many have heard that some insurance companies have left Florda but we do have a company called Citizens that will always insure in Florida, you can access the here:
Here is a website that gives some averages as to what to expect inmajor cities including Miami.
I cannot give a quote becasue there are too many variables to consider, but you may be able to get information if you contact the directly on some basic paramaters for a home in a flood zone or outside of one.
It is not a compeletely unafordable expense, but it is definatly going to be a part of your expense budget. I would budget about $400.00 per month for a moderate home.
I would be glad to assist you further if you decide to look at particular properties.
South Florida Brokers