Home Buying in Lillian>Question Details

Stokes1941, Home Buyer in Lillian, AL

i am interested in 1765 cristo loop, but need APPROX. cost of insurance on it. whats reqd & how much.

Asked by Stokes1941, Lillian, AL Tue Jan 10, 2012

tried talking to a local ins. person but cant get them to understand im only asking for approx. cost of all reqd ins.we are in our 70s and retired military.we have the 20% down & closing costs. but need this info to make a decision. on a fixed income. im aware of the various costs of living in spanish cove but have heard some horror stories about ins. are they true? thanx

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Hi Mr Stokes. Insurance on that home will be estimated between $1200 to $2000. depending what amount is put on the policy. This also includes hurricane & wind. the good news is your real estate tax will be in the $100 range or less per year if this will be your full time home.
Please give me a call @1-251-752-9949 if you have any questions.
Becky Pangallo
ERA Class.Com
http://www.eraclass.com/bpangallo
0 votes Thank Flag Link Wed Jan 11, 2012
I strongly recommend Jeff Powell with First Baldwin Insurance. 251-943-6677. He should be able to provide you with what you need. I frequently receive quotes from him for my buyers prior to making an offer, and my clients love his service. It is possible to make an offer contingent on satisfactory insurance quote if you are concerned about missing an opportunity on this property.
Web Reference: http://tiastanley.com
0 votes Thank Flag Link Tue Jan 10, 2012
Some of my clients in the Cove have told me they have been happy with Morris Insurance Agency in Gulf Shores, phone 251-979-3360.
0 votes Thank Flag Link Tue Jan 10, 2012
Sounds like you talked to the wrong insurance agent.

Ask your Realtor for some recommendations.

I don't know specifically about your area, but it's true that there can be some horror stories. The worst situation--and this goes house by house--is when a house is uninsurable because of the number of claims by the previous owner. So you could have two side-by-side identical homes. One owner has made repeated claims and the other hasn't. It could turn out that the one house is uninsurable, while the other one qualifies at a nice, low rate.

There are also issues dealing with flood plains, coastal areas, etc. That would affect all the nearby houses.

Finally, of course, there are variations based on all sorts of factor pertaining to the house--size, proximity to a fire station and a fire hydraunt, type of construction, age, etc. But you already know that. Those, though, shouldn't produce horror stories, just some variation in rates.

So, again, ask your Realtor to recommend an insurance agent who can help you. That should do it. If it doesn't, you can always ask to see the seller's insurance policy. It might not be quite the coverage you'd be looking for (the deductibles might be different, for instance), but it would at least give you a ballpark idea.

Hope that helps.
0 votes Thank Flag Link Tue Jan 10, 2012
Don Tepper, Real Estate Pro in Fairfax, VA
MVP'08
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