How much should you budget for annual insurance costs on a house in Key Biscayne ?

Asked by JCG, Key Biscayne, FL Mon Sep 13, 2010

Property taxes are more or less 2% of the appraised value. I've heard insurance is higher in coastal areas like KB, but how much should I budget to pay for insurance costs ?

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Chad Prey - Insurance Broker’s answer
Chad Prey -…, Other Pro, Miami Beach, FL
Sat Mar 9, 2013
I would also add that their are a number of mitigation credits that many insurance agents are not applying to their clients' policies. In addition, you can also obtain discounts by bundling in autos, watercraft, etc.... There are only a handful of markets that cater to these types of high-end homes. Feel free to contact me if you would like to discuss your options in greater detail, (786) 393-8331.
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Lourdes Luac…, Agent, Key Biscayne, FL
Mon Apr 4, 2011
I own a 2,000 sf home on the island and pay $14,000 per year for my insurance. You should get a quote from an agent to be sure of the costs because all homes have different conditions. Best of luck.
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Linda Lorenzo, Agent, McKinney, TX
Mon Sep 13, 2010
You can go on the internet and get quotes. It always pays to shop around and eventually talk to a "real" agent. Be sure to find someone who will explain to you what all the terms mean. I recently shopped around and found someone who went over in detail all the costs involved, I had been paying way too much for stuff I didn't need. It pays to find a good agent.
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Anna M Brocco, Agent, Williston Park, NY
Mon Sep 13, 2010
In order to get a clear picture of insurance costs, why not contact a few local insurance companies and ask for quotes based on your needs--then choose the package that best suits those needs.
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