Hi Richard, You really should contact and insurer or insurers to get the answers about rates and whether east of 181 would be less than west of 181.
Personally, I think decent rates can be found based on lots of different issues - age of the property for example.
Good luck...... more
If the owner doesn't reside at the property then a traditional homeowners policy will not suffice. The best type of policy would be a landlord policy. Similar to a homeowners with an allowance for nonowner residents. We write these all the time but the situtation is usually reversed where the parents buy a house and the adult children live in the home.... more
I can't answer about the Gulf, but I am oceanfront here in the Nags Head Kitty Hawk, NC coast. 80% of all homes here are in a flood zone and are required by the lender to have flood insurance, so it's very common here to have it. It's not all that expensive and it is all based on elevation above sea level. Higher is better and cheaper, this is the height of the ground, not the house on stilts (pilings). My house is about 200 ft from the ocean and is 1 lots back from it and I pay $430/yr for the max coverage of $250k. If you go back farther flood ins rates drop slowly and $250 is not uncommon. Those oceanfront homes can pay $2000 in some cases if the elevation is not high enough to reduce it. And again, FEMA flood only covers to a max of $250k. Those owners that must have flood to cover a million dollar home must go to Llyods of London, or some other private insurance co, and that can easily run $10-20k / year.... more
I have a home in Gulf Shores within 600 yards of the beach with about 1600 to 1700 sq feet of living space. Insurance is $4700.00 this year with taxes running $1250.00 with a homestead exemption. For rental purposes the tax would be twice this amount. Larger homes would have higher taxes and insurance costs.
Hope this helps!
RE/MAX of Gulf Shores