When buying a condo on Marco Island, does the HOA cover flood insurance? If not, can you give me an estimate of what the monthly cost would be?

Asked by Smythe, Marco Island, FL Sun Mar 18, 2012

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Maria C. Tob…, Agent, Marco Island, FL
Mon Feb 2, 2015
Call us at John R Wood Brokerage to answer all your questions related to properties, insurance, taxes, homestead, etc. We will guide de you in the process and recommend experts on each particular area. Maria Tobin - John R Wood Agent 954-292-0312
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Maria C. Tob…, Agent, Marco Island, FL
Mon Feb 2, 2015
Call us at John R Wood Brokerage to answer all your questions related to properties, insurance, taxes, homestead, etc. We will guide de you in the process and recommend experts on each particular area. Maria Tobin - John R Wood Agent
0 votes
Rparlin, Home Buyer, Marco Island, FL
Tue Dec 18, 2012
Not usually. However, you may wish to call the association HOA and ask them. Flood insurance is a Federal program and the cost will be the same where ever you get it. Check with the agency that you placed you homeowners insurance with. Most likely that will be able to write it.

Roger Parlin, Ph.D., CA, ACA
Southern Association Insurance School
239-257-5977
0 votes
David H Schu…, Agent, Naples, FL
Wed Jul 25, 2012
In a condo, your HOA fees cover outside maintenance including insurance and that is why the fees are sometimes very high. We can help you to compare the condo fees for different buildings and also their amenities and restrictions. You can look at the Marco Island condo options at http://www.agent4naples.com. As each building varies in exposure, age, repair and proximity to the ocean the costs for each building insurance will vary. However the building insurance cost will be built into your HOA fees. The benefit to owners in a condo is the low maintenance living- where you own the interior of the living space between the finish on the walls. As your agent we would put you in touch with a local insurance agent for quotes for insurance coverage for contents or the interior part of the condo for which you would need to be covered.
Web Reference:  http://www.agent4naples.com
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SandlinRE, Agent, Marco Island, FL
Mon Mar 19, 2012
Please contact us at the Sandlin Team and one of our agents on the Sandlin Team will be more than happy to answer your question about HOA fees in depth.

Thank you very much,
The Sandlin Team
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Buy The Beach…, Agent, Marco Island, FL
Sun Mar 18, 2012
The monthly condo fees cover insurance, including flood if required, on the exterior portion of the condo. The owner generally obtains a policy to cover the contents of the unit, including flood, if necessary. It is difficult to give an estimate of what that policy would cost. Once you have decided to purchase a particular condo, it would be wise to contact an insurance agent familiar with the area to get an estimate of costs.
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Rich Homer, Agent, NAPLES, FL
Sun Mar 18, 2012
Assuming flood is required, it would be in the association fees. http://www.naplesrealestateguys.com/marco-island-florida/
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Dale Glon, Agent, Marco Island, FL
Sun Mar 18, 2012
Normally, the condominium association will provide flood insurance for the common building. Condo owners are responsible for insuring the contents of their individual condominium unit.
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