Home Buying in Indialantic>Question Details

Ann, Home Buyer in Pennsylvania

I am looking to buy a beach property in Florida (southeast area) and am concerned about hurricaine insurance

Asked by Ann, Pennsylvania Wed Mar 12, 2008

Is hurricaine insurance available and what kind of cost would I be looking at?

Help the community by answering this question:


Hi Ann,

I would search the net and search on Hurricane insurance to find the lowest cost. Most home owners insurance plans have a 2% Hurricane deductible or $500, $1000, or $2,500 depending on what you choose your deductible to be when you purchase your insurance. I have one of the lowest prices homes listed on Sebastian River in Micco (Little Hollywood) which has removable hurricane shutters. You may want to shop for homes with shutters to keep insurance cost down. Thank you for the opportunity to help you find your beach property. I can be reached anytime at 352-267-7758. Thank you, Michelle Maddy
0 votes Thank Flag Link Wed Apr 9, 2008
Call an insurance company ad see if they areeven insuring the area you are considering. Many insurance companies have given up beach properties.
0 votes Thank Flag Link Mon Apr 7, 2008
Hi Ann: Our firm refers real estate clients to Insurance Icon in Melbourne, FL. So far, all of our clients have successfully received what is called wind insurance (also known as "Hurricane Insurance").

Feel free to contact us regarding any questions, comments and/or concerns you may have.
Best, Mark Palace, CEO/Founder Palace Properties International, Inc.
0 votes Thank Flag Link Sun Mar 30, 2008
My understaning that insurance does not apply to any storm with a name
0 votes Thank Flag Link Wed Mar 12, 2008
Hi Ann, Hurricane insurance is not available per-se. You would insure your home for the maximum cost of replacement value and insurance to cover your contents within. It would be wise to acquire windstorm insurance as well as flood insurance. If you are b uying the house CASH then any type of insurance is your choice, however, if you are financing your property your lender/bank will require cetain types of coverage aside from coverage that you can elect on your own. If you need further information feel free to contact me. Best of luck! Jose Gomez - Miami Realtor http://josegomezfl.sef.mlxchange.com
0 votes Thank Flag Link Wed Mar 12, 2008
We don't have exactly "hurricane insurance" per say. But we have flood insurance and wind policies, in addition to your regular policy. Unfortunately, the policies sometimes have the "act of God" clause, to help the insurance companies not have to pay. Your best plan of action is to start calling insurance companies and compare rates. And ask lots of questions!

Good luck!
0 votes Thank Flag Link Wed Mar 12, 2008
Hi Ann,

You are smart to be considering your options for windstorm protection when thinking of a Florida Beach side home. Your insurance costs will vary depending upon the size, amenities, age and construction of the home you are considering and it's exact location.

If the home is over 50 years old it will be required to have a 4 point inspection prior to closing (usually about $150). This covers the main operating systems of the home - roof, plumbing, A/C and electrical system.

I am attaching a link to the Florida Office of Insurance Regulation. I think you will find the information here beneficial. If you follow the links it will take you to local insurance agents and you can get an online figure for insurance.

On the website there is information about My Safe Florida Home Program. Homesteaded properties are eligible for a wind mitigation inspection of the home, at no cost. It is conducted by a certified inspector for the State of Florida and it includes 8 questions about the property, namely the roof, trusses and any gable reinforcements. One question pertains to the type of shutters (if any) that are included with the home. We are seeing homeowners saving anywhere from $200 to over $400 a year on their premiums, depending on the outcome of the inspection!

Best wishes to you,

Sandy Shores, Realtor
M & M Real Estate Inc.
Residential & Investment Property
Serving Melbourne, Palm Bay, Viera, Rockledge, Indialantic, Ind. Harbour, Satellite & Melbourne Beaches

I Also Buy, Sell, Rent, Own & Manage Investment Property

0 votes Thank Flag Link Wed Mar 12, 2008
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