Home Buying in 33180>Question Details

Nmcd2009, Home Buyer in Miami, FL

What sort of house insurance rates should I expect? And is there any truth to the rumours of insurance companies being reluctant to issue policies?

Asked by Nmcd2009, Miami, FL Tue Nov 20, 2012

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Brian Morgenstern’s answer
Yes the rumors are true.South Florida has always had a problem with many insurance companies reluctant to/and/or do not issue policies due to hurricanes.If you are working with a realestate agent who utilizes the MLS ,the service provides a link to give you an estimate of insurance costs as well the insurance company to contact.You will find that the cost for insurance for condominiums is a lot less than for single family homes.If you want to know the cost for a particular property:if it is listed in the MLS I will be happy to furnish you with thew insurance quote.Brian Morgenstern agent for Beachfront Realty Inc.C/T#954-937-6777 O#305-933-3377 email brianmorgenstern1@gmail.com
0 votes Thank Flag Link Wed Jan 30, 2013
I can recomend a few insurance companies and they will provide the rate. They do insure Florida Properties.

Please, let me know any questions you might have

Realtor NAR, SFR
Direct: 305-842-4500 Fax: 866-240-6244
Email: lmeyerkov@gmail.com
0 votes Thank Flag Link Sat Feb 21, 2015
It is prudent to get quotes from several insurance companies. I can recommend a couple off line, if you'd like. These companies were selected by my clients who shopped around intensely.

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,

Irina Karan
Beachfront Realty, Inc.
0 votes Thank Flag Link Tue Feb 19, 2013
Make sure you shop around. Get multiple quotes. Insurance companies are weighing a lot of different variables, so sometimes one company can offer you a much lower rate than the others.
0 votes Thank Flag Link Wed Nov 21, 2012
Hi again Nmcd2009,
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.

Beth Jenkins
South Florida Brokers
0 votes Thank Flag Link Tue Nov 20, 2012
Hello ,

with home insurance rates can be high as we are in hurricane prone state. Please contact e if you have any other questions.

Thank you,
Tamika Moses
Keller Williams Realty Partners SW
0 votes Thank Flag Link Tue Nov 20, 2012
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